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 10:35 GMT
Technical Major Currencies
Euro


Midday Report

 

The pair is currently correcting yesterday's violent decline attempting to re-test the previous broken support -turned into resistance- around 1.3230 as seen on the provided daily chart. Actually, the negative divergence on Stochastic still has southern technical objectives to be reached while OsMA continues showing negative signal. Thereby, we hold onto our bearish scenario for the rest of the day and a break below 1.3140-1.3125 will accelerate declines.

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.

Morning Report

Weekly Report



Support1.31401.31101.30701.30351.2975

Resistance1.32301.32501.32951.33151.3375

RecommendationOur morning expectations remain valid.


Great British Pound (GBP)


Midday Report

 

Cable has mildly inclined correcting the collapse occurred yesterday. Areas around 50% Fibonacci of the downside wave from 1.6165 to 1.5360 -IM wave- is under retest while the head and shoulders top pattern hinted this morning remains valid as far as the right shoulder levels remains intact. To conclude, the bearishness will be favored for the rest of the day; noting that a break below 1.5680 will bring more selling interests.

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.

Morning Report

Weekly Report



Support1.57301.56801.56301.55851.5555

Resistance1.57801.58201.58801.59351.5975

RecommendationOur morning expectations remain valid.


Japanese Yen (JPY)


Midday Report

 

Due to facing 38.2% Fibonacci retracement of the wave from 75.50 to 79.50 and the overbought signal on Stochastic, the pair started to achieve some kind of fluctuation as we anticipated this morning. But, we keep our positive scenario intact for the rest of the day as stability is still seen above 50% Fibonacci level. A break above 78.30 will be a very positive indication.

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.

Morning 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)


Midday Report

 

A slight downside correction was witnessed during the previous session after touching areas around 0.9200 levels, but the pair is moving steadily above the initial support of 0.9105. Meanwhile, Stochastic and RVI 14 didn’t change their signs despite the aforementioned correction. Accordingly, our bullish scenario remains valid for the rest of the day; noting that areas around 0.9030 will be our risk limit.

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.

Morning Report

Weekly Report



Support0.91400.91050.90800.90300.9000

Resistance0.91750.92600.92850.93100.9360

RecommendationOur morning expectations remain valid.


Canadian Dollar (CAD)


Midday Report

 

The pair reversed slightly attempting to retest the 200-days SMA once more; meanwhile, an intraday flag-like pattern was breached while Stochastic has crossed over negatively. Therefore, the negative bias may continue and a breach below the latest swing low and the 200-days average at 0.9970 may confirm further losses.

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.


Morning Report

Weekly Report



Support0.99900.99300.98900.98600.9830

Resistance1.00151.00501.00751.01001.0130

RecommendationBased on the charts and explanations above, we recommend selling the pair with four-hour closing below 0.9970 targeting 0.9930 and 0.9890 stop loss above 1.0025.


Australian Dollar (AUD)


Midday Report

 

The pair is attempting to recover after testing levels near the ascending support, while momentum indicators are turning their intraday direction to the upside. A breach of the descending resistance for the broadening flag shall confirm further bullishness for the rest of the session targeting mainly the latest highs. On the other hand a break below the main ascending trend-line shall threaten the current bullish trend.

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.


Morning Report

Weekly Report



Support1.06801.06251.05701.05301.0500

Resistance1.07351.07801.08201.08501.0900

RecommendationBased on the charts and explanations above, we recommend buying the pair around 1.0680 targeting 1.0770 and 1.0850, stop loss and reverse order with four hour closing below 1.0640 targeting 1.0560 and 1.0520 stop loss above 1.0700


New Zealand Dollar (NZ)


Midday Report

 

Kiwi rebounded after touching the ascending trend-line for the main short term bullish trend, while a flag continuation pattern is forming over the four-hour charts hinting further bullishness could be seen, however we need further confirmations by breaching the descending resistance for this flag, and confirmation by RSI indicator breaching its descending trend-line shown on the bottom of the image. Thus, we will wait and monitor developments for the rest of the day.

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.


Morning Report

Weekly Report



Support0.82850.82400.82100.81750.8150

Resistance0.83500.83800.84000.84250.8450

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


 
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