ecPulse.com @ 5:27 AM, Thursday January 07 2010
Euro
Morning Report
The euro versus dollar was able to achieve the primary targets awaited since yesterday and near above the MA25
–currently valued at 1.4385-. Momentum indicators are showing negative
signs that could pressure it to attempt some bearish correction before resuming the expected bullish direction for today.
The main upcoming target is around 1.4500, keeping in mind the
importance of 1.4275 remaining intact to achieve these expectations.
The trading range for today is among the key support at 1.4215 and the key resistance at 1.4565.
The general trend is to the upside as far as 1.4035 remains intact with targets at 1.6000.
| Support |
1.4385 |
1.4345 |
1.4275 |
1.4215 |
1.4175 |
|
| Resistance |
1.4430 |
1.4500 |
1.4575 |
1.4620 |
1.4675 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is buying the pair
from 1.4345 targeting 1.4500 and stop loss below 1.4275, might be
appropriate. |
Great British Pound (GBP)
Morning Report
The
cable is facing strong resistance at 1.6055 – previously breached
support level that turned into resistance – that forces the pair to
bearishly correction, after losing the bullish momentum gained
yesterday. We expect some fluctuation with a gradual slant to the
downside that might touch the pivotal support once again at 1.5925,
following the start of an expected bullish direction for today,
where it breaches through it resistance mentioned and targets mainly
1.6240. It is vital that 1.5915 remain intact for the expected bullish
direction to prevail today.
The trading range for today is among the key support at 1.5800 and the key resistance at 1.6235.
The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7200.
| Support |
1.5925 |
1.5830 |
1.5800 |
1.5745 |
1.5700 |
|
| Resistance |
1.6055 |
1.6140 |
1.6200 |
1.6240 |
1.6325 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is buying the pair
from 1.5925 targeting 1.6055 and stop loss below 1.5830, might be
appropriate. |
Japanese Yen (JPY)
Morning Report
Pivotal
resistance was able to stop the bullish correction that the dollar
versus yen has been attempting since yesterday to start, according to
our awaited bearish trend expectations. The stochastic is still showing
bearish negative signs that encourage us to mention that,the expected direction for today is bearish; targeting mainly 90.75 and requires 93.05 to remain intact below it in the four hour close.
The trading range for today is among the key support at 90.75 and the key resistance at 93.55.
The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.
| Support |
91.90 |
91.25 |
90.75 |
90.40 |
89.60 |
|
| Resistance |
92.45 |
92.75 |
93.05 |
93.65 |
94.10 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is selling the pair
from 92.45 target 91.25 and stop loss above 93.05, might be appropriate. |
Swiss Franc (CHF)
Morning Report
The
dollar versus swissy pair is attempting once again to breach the
pivotal support for the side range at 1.0280, where the upcoming
sideway pressure coming from momentum indicators insists on returning
the pair within this range once again. Meanwhile, trades stabilized
below the MA 50, remaining like our previous expectations for the short term direction while we still see that the expected direction is bearish over an intraday basis;
targeting mainly 1.0055, where chance of achieving this decline will
prevail if we do not witness trades stabilizing above 1.0400.
The trading range for today is among the key support at 1.0055 and the key resistance at 1.0500.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
| Support |
1.0280 |
1.0200 |
1.0170 |
1.0140 |
1.0090 |
|
| Resistance |
1.0375 |
1.0400 |
1.0450 |
1.0450 |
1.0610 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is selling the pair
with the breach of 1.0280 targeting 1.0170 and stop loss above 1.0375,
might be appropriate. |
Canadian Dollar (CAD)
Morning Report
The
dollar versus loonie succeeded in achieving the expected primary
targets around 1.0330, with some bearish movement to test the strength
of 1.0300 and pushes the pair to the upside, due to support from
oversold signs that appear through momentum indicators. From here, we
expect some bullish correction for yesterday's descend that retests the
breached horizontal support level at 1.0360 and then returns to achieve
more possible bearish movement over an intraday basis
heading towards upcoming main targets around 1.0200 – 1.0180. Keep in
mind that these expectations will prevail if 1.0435 remains intact with
the four hour close below it.
The trading range for today is among the key support at 1.0180 and the key resistance at 1.0500.
The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0000.
| Support |
1.0270 |
1.0200 |
1.0165 |
1.0100 |
1.0000 |
|
| Resistance |
1.0380 |
1.0435 |
1.0485 |
1.0550 |
1.0635 |
|
| Recommendation |
Based
on the charts and explanations above our opinion is selling the pair
from 1.0360 targeting 1.0270 and stop loss above 1.0435, might be
appropriate. |
Visit EC Pulse
