Forex Technical analysis special report

Posted by 5 February, 2010

Euro / British Pound

The trading EURGBP has strengthened in what is probably a small quarter swing. 8800 is the resistance. As the increase is for fourth oscillation, a triangular possible. Price ideally remains below that of 8853 (minimum level of oscillation i).

Euro / Swiss Franc

From the day of last week’s drop, the price has operated EURCHF divergent. The potential resistance of the channel intersects the level of 14818 (initial peak of the pivot) on 11 February. 14871 (initial medium) is also a potential strength. Continues to favor a decline below the break-in 15000.

Euro / Canadian Dollar

I express the importance of a minimum price last month in the EURCAD. That floor was made just below the minimum level of October 2008 / support line sloping downward trend. The increase from the minimum in January is impulsive (5 variations) so that a promotion is cautiously encouraged. However, a break would be significant and would change the focus to 14405 (at least February 2008).

Euro / Australian Dollar

It is possible that a significant minimum is in place for trading EURAUD equally. We favor the rise compared to 15586. Operating over 15,965 leaflets reinforce the upside.

Euro / dollar New Zealand

The quotation EURNZD is in the same position that trading EURAUD. The decline from 21,267 can be complete in five swings, which means that a minimum level may be more important instead. A move above 20,029 would increase confidence in the promotion.

Euro / Japanese Yen

With 5 complete oscillations in descending 12,522, a figure horizontally expanded to explain the decline a new low (12440). A pressure above 12,713 would meet the minimum expectations for oscillation c. The initial point of rupture in 12,745 is potential resistance. The additional resistance would be 12,841 and 12,954.

Pound Sterling / Japanese Yen

“In the big picture, I still maintain that the entire 16,310 increase to the fourth oscillation of the correction and that trading GBPJPY will eventually drop below a minimum level below 11,879.” In the short term, we favor the down from 14,736. A break below 14,300 / support line would change the focus to 14200 (minimum 12/9/09).

Swiss Franc / Japanese Yen

The pattern of trading CHFJPY is the same as the price EURJPY. A figure can be expanded horizontal path. Operating over 8645 would complete the pattern. Initial support in 8700 is potential resistance.

Canadian Dollar / Japanese Yen

I wrote Monday that “The decline since 9065 may be supplemented as an impulse (5 oscillations) with the oscillation 5 truncated. Look at this week increments. Resistance is at 8650 and 8726. Eventually, a break below 7990 is expected. “The increase in the price CADJPY is approaching the levels mentioned, so look for signs of weakening price CADJPY.

Australian dollar / Japanese Yen

In the larger picture, the increased contribution from the minimum level AUDJPY October 2008 stands at five oscillations and the oscillation is probably a correction to ABC several years. Most important is the oscillation 5 of increase, which is a diagonal terminal. The terminals are often backed by clean diagonal full acutely. This puts a target bass in 7074. The short-term resistance is from 8185 to 8274.

New Zealand Dollar / Japanese Yen

The short-term pattern of trading NZDJPY is similar to the pattern of short-term trading in CADJPY. The decline since 6877 is impulsive if any truncated allows fifth swing. To expect resistance levels are 6499, 6541 and 6633. The biggest trend is considered down versus 6877. In the larger picture, the increase since 5259 is a diagonal and expectations are about a full retreat for the increase.

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