Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Wednesday February 15 , 2012 09:50 GMT
Technical Major Currencies
Euro


Midday Report

 

Our morning caught positive divergence on MACD traditional continued causing fluctuation where the pair succeeded in touching the previous detected resistance areas of SMA 50 as seen on the provided graph. The bearishness appearing on the longest time scales encourages us to say that the key resistance levels between 1.3190 and 1.3230 will force the pair to move lower once again. Ultimately, the pair should be capped below 1.3230 to keep our constructive bearish outlook valid.

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

Resistance1.32001.32301.32501.33151.3375

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 1.3200 targeting 1.2975 and stop loss above 1.3335 might be appropriate.


Great British Pound (GBP)


Midday Report

 

Only a few pips separated between Cable and the detected entry point around 1.5750 where the pair has moved downwards again as seen on the provided four0hour graph. We still see chances for more fluctuation before clearing the key support levels around 1.5640-1.5630. To summarize, the bearish scenario based in the suggested Elliott count remains valid for the rest of the day as far as 1.5925 remains intact.

The trading range for today is among key support at 1.5460 and key resistance at 1.5975.

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



Support1.56301.55851.55551.55151.5460

Resistance1.57301.57801.58201.58801.5935

RecommendationBased on the charts and explanations above our opinion is, selling the pair around 1.5750 targeting 1.5515 and stop loss above 1.5925 might be appropriate.


Japanese Yen (JPY)


Midday Report

 

The pair continued struggling around the resistance level of 78.60-23.6% Fibonacci retracement of the upside wave from 75.50 to 79.50- as seen on our provided daily chart. Stochastic and RSI 14 are currently reflecting overbought cases and that may bring a mild downside correction before resuming the upside rally supported by yesterday's long white candlestick formation. The classical studies over weekly basis also reinforce the bullish scenario.

The trading range for today is among key support at 77.30 and key resistance now at 80.00.

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

Classical Outlook



Support78.3078.1077.8077.6077.30

Resistance78.7078.9079.1579.5580.00

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 78.10 targeting 79.55 and stop loss below 77.00 might be appropriate.


Swiss Franc (CHF)


Midday Report

 

The pair didn’t show any big move since morning after being resisted as well around 0.9220-0.9230 zones as seen on the provided daily chart. Stochastic shows that the pair started to lose its upside momentum but the positive sign on RVI 14 and stability above the pivotal support of 0.9105 are reasons that force us to stay aside for the rest of the day. A break of 0.9220 will bring the bullish picture back into focus and will weaken the recently drawn minor resistance line -blue line-.

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

Resistance0.91750.92200.92600.92850.9310

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.


Canadian Dollar (CAD)


Midday Report

 

The pair has been trapped within a tight range since morning while RSI 14 over four-hour time scale continues approaching oversold areas. The pivotal support of 0.9925 becomes very close while trading remains within the recently established sideways areas. Risk versus reward ratio is too high for the time being; thus, we hold onto our neutrality of the rest of the day waiting for more confirmations.   

The trading range for today is expected among the key support at 0.9830 and the key resistance at 1.0120.

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

Morning Report

Weekly Report



Support0.99300.98900.98600.98300.9800

Resistance0.99651.00001.00351.00751.0120

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.


Australian Dollar (AUD)


Midday Report

 

We have witnessed the second four-hour closing above SMA 50 -red- and above the key resistance -previous important broken support- at 1.0750 as seen on the provided four-hour chart. Stochastic remains positive encouraging us to suggest further upside actions over intraday basis inside the ascending channel instead of staying aside. Technical targets are seen at 1.0850 zones where this important peak might be retested. Conversely, coming below 1.0670 will give us a reason for concern.

The trading range for today is expected among the key support at 1.0570 and the key resistance at 1.0945.

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

Morning Report

Weekly Report



Support1.07501.07001.06801.06251.0570

Resistance1.07801.08201.08501.09001.0945

RecommendationBased on the charts and explanations above our opinion is, buying the pair around 1.0750 targeting 1.0850 and stop loss below 1.0670 might be appropriate.


New Zealand Dollar (NZ)


Midday Report

 

As anticipated this morning, the pair has moved steadily upwards attempting to clear the key resistance level around 0.8405. Of course, RSI 14 may cause some fluctuation but we believe that the upper line of the strong upside channel might be retested over coming sessions; noting that our previous hinted Crab pattern will be completed there as seen on the provided four-hour graph. Only a break below 0.8320-0.8300 will negate and bring additional downside actions.

The trading range for today is expected among the key support at 0.8220 and the key resistance at 0.8550.

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

Morning Report

Weekly Report



Support0.83800.83500.83200.83000.8285

Resistance0.84250.84600.84900.85100.8550

RecommendationOur morning recommendations remain valid.


 
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