Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Tuesday February 14 , 2012 05:32 GMT
Technical Major Currencies
Euro


Morning Report

 

Adopting a favorable reaction to yesterday's hinted negative sign on Stochastic, the pair has plummeted achieving an obvious negative daily closing below the pivotal support -turned into resistance- at 1.3230. Now, the negative divergence on Stochastic becomes clearer as seen on the provided daily chart; whist OsMA is on the way to hit (0) level. Consequently, further declines could be witnessed over intraday basis and a break below 1.3035 will assist bears to support their short positions.

The trading range for today is among key support at 1.2925 and key resistance at 1.3375.

The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 areas remain intact.

Previous Report

Weekly Report



Support1.31401.31101.30701.30351.2975

Resistance1.32001.32301.32501.32951.3315

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 1.3190 targeting 1.2975 and stop loss above 1.3335 might be appropriate.


Great British Pound (GBP)


Morning Report

 

In accordance with yesterday's proposed bearish scenario, Cable has descended violently as seen on the provided four-hour graph. This decline has been capable of drawing a potential head and shoulders top pattern with a broken neckline. The aforementioned bearish classical probability is another technical factor that matches our suggested Elliott count. A break below 1.5680-1.5665 will trigger panic sell-off actions towards 1.5515 followed by 1.5420 over upcoming sessions.

The trading range for today is among key support at 1.5420 and key resistance at 1.5935.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Previous Report

Weekly Report



Support1.56801.56301.55851.55551.5515

Resistance1.57301.57801.58201.58801.5935

RecommendationBased on the charts and explanations above our opinion is, selling the pair below 1.5730 targeting 1.5515 and stop loss above 1.5890 might be appropriate.


Japanese Yen (JPY)


Morning Report

 

Yesterday's positive closing above 50% Fibonacci retracement of the upside wave from 75.50 to 79.50 zones has assisted the pair to soar during the Asian session as seen on the provided daily chart. Some kind of fluctuation might be seen to relieve momentum indicator but overall, the bullish momentum that started at 76.00 zones is still strong enough to push the pair higher over intraday basis. A break of 78.00 will accelerate inclines.

The trading range for today is among key support at 76.70 and key resistance now at 79.15.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Previous Report

Weekly Report



Support77.6077.3076.9576.7076.40

Resistance78.1078.3078.4578.9079.15

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 77.70 targeting 79.15 and stop loss below 76.80 might be appropriate.


Swiss Franc (CHF)


Morning Report

 

The solid support around 0.9105 has provided the pair with very strong bullish momentum sending it violently upwards as seen on the provided daily chart. Stochastic and RVI 14 continues providing the pair with upside momentum. In result, our bullish scenario suggested in the weekly report remains in favor and a break above 0.9230 will confirm and accelerate the move. On the downside, taking 0.9030 will give us a rational reason for concern.

The trading range for today is among key support at 0.8985 and key resistance at 0.9400.

The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 areas remain intact.

Previous Report

Weekly Report



Support0.91400.91050.90800.90300.9000

Resistance0.92100.92600.92850.93100.9360

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 0.9170 targeting 0.9360 and stop loss below 0.9030 might be appropriate.


Canadian Dollar (CAD)


Morning Report

 

The pair found support and rebounded from the 200-days SMA yesterday (colored in green) where it also settled above the 50(four-hours) average, while stochastic is providing positive signs. The price maybe attempting to test the resistance areas below 1.0070, as it looks like the pair is trying to build a base above 0.9930 level to resume the bullish trend; nevertheless, we prefer avoiding this slow ranging stance, awaiting a clear direction breakout within the upcoming period to jump into a major move.

The trading range for today is expected among the key support at 0.9890 and the key resistance at 1.0075.

The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.


Previous Report

Weekly Report



Support0.99900.99700.99300.98900.9860

Resistance1.00151.00501.00751.01001.0130

RecommendationBased on the charts and explanations above, we recommend staying aside awaiting further confirmations.


Australian Dollar (AUD)


Morning Report

 

The rebound was halted at the resistance of this descending broadening wedge pattern, as the price failed to breach it and reversed; currently attempting to retest the ascending support for the main channel. Stochastic and RSI momentum indicators are negative and still have some room towards oversold areas, thus at the current level we will wait and see how price reacts to this short term pivotal level.

The trading range for today is expected among the key support at 1.0525 and the key resistance at 1.0850.

The short-term trend is to the upside targeting 1.1079 so long as 1.0130 remains intact.


Previous Report

Weekly Report



Support1.06701.06251.05701.05301.0500

Resistance1.07351.07801.08201.08501.0900

RecommendationBased on the charts and explanations above, we recommend staying aside awaiting further confirmations


New Zealand Dollar (NZ)


Morning Report

 

Price retreated yesterday failing to maintain the rally, where the pair is testing the main ascending support of the whole move starting from December’s bottom, RSI is negative and Stochastic as well, we may be headed to trade within a period of range trading among the key support at 0.8220 and the key resistance at 0.8400, unless we see a sustained breach below 0.8220-40. Therefore, we would like to expect an upside rebound from level a little below here and around this support at 0.8240.

The trading range for today is expected among the key support at 0.8220 and the key resistance at 0.8400

The short-term trend is to the upside, targeting 0.8840 as long 0.7600 remain intact.


Previous Report

Weekly Report



Support0.82850.82400.82000.81750.8150

Resistance0.83500.83800.84000.84250.8450

RecommendationBased on the charts and explanations above, we recommend buying the pair around 0.8240 targeting 0.8300 and 0.8385, stop loss below 0.8200.


 
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