Euro continued to fall, currently testing 1.4280 support

Written by admin on August 31st, 2009

USD /JPY

In the wake of positive messages and the victory of the DPJ (Democratic Party of Japan) for the first time in fifty years, the yen strengthened, which helped her get closer to the field of support 92.85/70. If the motion to continue and further down to the next level, most likely, will be 92.40. In favor of this hypothesis stands the fact that oscillators and trend indicator OsMA at 4-hour chart (Figure 1) show bearish direction. On the hourly chart (Fig. 2), the picture blurry: Stochastics and SS OsMA confidently rushed up, not excluding the possibility of rollback, but the RSI turned in the opposite direction, confirming our assumption of a break of support.

Thus, in my opinion, the situation can be characterized as uncertain, so it wait for a break of this support, and only after this open positions for sale with a close stop loss.

Support: 92.85/70, 92.40, 92.00, 91.55, 91.00, 90.70, 90.00, 89.70, 89.00, 88.40, 88.00.

Resistance: 93.20/00, 93.60/50, 94.10/00, 94.60/50, 94.90/95.00, 95.30/40, 95.90/96.00, 96.30, 96.60, 97.00, 97.50/75, 98.00, 98.35, 98.60, 98.90/99.00, 99.40/60, 100.00.

USD /CHF

At the moment the prices are kept above 1.0600, and if the movement continues, the next mark will be 1.0650. The situation at 4-hour chart (Fig. 3) indicates this possibility, as both the trend indicator OsMA, and oscillators demonstrate growth. However, the situation on the hourly chart (Figure 4) gives a different picture: all the indicators turned bearish in the direction, not excluding the likelihood of re-testing support.

In light of this, in my opinion, is to wait for clarification of the situation and only after this open positions with a close stop-loss in the direction of the breakout.

Support: 1.0600, 1.0550, 1.0500/1.0490, 1.0400, 1.0350, 1.0300, 1.0250, 1.0200, 1.0175, 1.0130, 1.0100, 1.0070.

Resistance: 1.0650, 1.0700,1.0730, 1.0750/60, 1.0800, 1.0840/50, 1.0900, 1.0935/40, 1.0970, 1.1000/10, 1.1050/60, 1.1100/20, 1.1150, 1.1200/15, 1.1270, 1.1320, 1.1375, 1.1400, 1.1450.

EUR /USD

euro continued to fall, currently testing 1.4280 support. If a breakthrough can be, then the closest level, most likely, will be 1.4250. In favor of such dynamics can say that at 4-hour chart (Fig. 5) and the trend indicator OsMA, oscillators, and flew down. The situation on the hourly chart (Fig. 6) is completely the opposite: all the indicators showed a turn up, not excluding the likelihood of rebound.

In my opinion, is to wait for clarification of the picture and only then consider the possibility of opening positions in the direction of the break with a close stop loss.

Support: 1.4280, 1.4250, 1.4200, 1.4150/40, 1.4100, 1.4070/60, 1.4030, 1.4000, 1.3960, 1.3900, 1.3860, 1.3840/30, 1.3800, 1.3780, 1.3740/30, 1.3700, 1.3680, 1.3630, 1.3600, 1.3560, 1.3500.

Resistance: 1.4320/30, 1.4360, 1.4400, 1.4430, 1.4465, 1.4500/15, 1.4540, 1.4585, 1.4600, 1.4725, 1.4760, 1.4800, 1.4840.

GBP /USD

Nedolgo pound strengthened to a little more positive indicators of GDP. Prices again came under pressure, and the current pair is testing the lower boundary of the range 1.6200 - 1.6600. If the motion continues, the next goal could be 1.6140/30 region. In favor of this hypothesis appears bearish direction of the trend indicators and oscillators at 4-hour chart (Fig. 7). The situation on the hourly chart (Fig. 8) are completely opposite, as both oscillators, and OsMA rushed up, pointing to the probability of reverse

That said, I think we should wait for clarification of the picture and only then consider the possibility of opening positions in the direction of the break with a close stop loss.

Support: 1.6200, 1.6170, 1.6140/30, 1.6100, 1.6060, 1.6000, 1.5975/60, 15930, 15900, 1.5840, 1.5800.

Resistance: 1.6230, 1.6275/70, 1.6300, 1.6340, 1.6370, 1.6400, 1.6430, 1.6470, 1.6500, 1.6540/60, 1.6600, 1.6640, 1.6700, 1.6730, 1.6800, 1.6900, 1.6970, 1.7000, 1.7060, 1.7100, 1.7130, 1.7200, 1.7300, 1.7360, 1.7400.

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