The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated below the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Yesterday's slide failed to break below the crucial 1.3810 support and the bias continues to be bullish on the lower frames, just shy of the 1.3950-80 resistance area. I continue to favor the downside, for break below 1.3820, en route to 1.3650.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated below the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Yesterday's impulsive sell-off bottomed at 1.3799 and sharply reversed, initiating a new uptrend, which broke through 1.3950 resistance area. The outlook is bullish for 1.4150, en route to 1.4270, with support around 1.3950.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Yesterday's break above 1.4038 resulted in a fast impulsive rise to 1.4249, few pips below 1.4270 resistance area. Current slide from 1.4249 is corrective, preceding next leg upwards, to 1.4550 major static resistance. Intraday support can be spotted at 1.4110 and crucial on the downside is 1.3950 area.
The overall downtrend continues to be intact, aiming at new historical lows below 75.95. Technical indicators are still descending and crucial resistance on the daily frame is 80.20.
BOJ intervened unilaterally after this morning's record low at 75.56 and the dollar rose more than 5% to a local high at 79.50. Major resistance on the upside is 80.00 area and intraday a slide towards 77.70 support is likely to occur.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Yesterday's break through 1.3950 support area confirms, that a top is in place at 1.4250 and the whole uptrend from 1.3145 is already over. The bias is negative, for 1.3650 static support with an initial resistance at 1.3820 and crucial level at 1.3872.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
A local bottom has been set at 1.3608 and current rise above that level is a corrective phase, preceding next leg downwards, to 1.3520 and 1.3360. Reliable intraday resistance can be found at 1.3810-20, followed by the major one at 1.3950.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Still in the consolidation pattern above 1.3608 low and the intraday bias is positive towards 1.3890. I think, that current rise from 1.3655 is the third, final part of the mentioned consolidation and it precedes a sell-off towards 1.3520 and 1.3360. Important intraday resistance lies at 1.3717.
November 4, 2011
Current level - 1.3827
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
The recent test of 1.3655 failed and current rise is heading towards 1.3890, but expect 1.3950 major resistance area to cap the upside for a reversal and a sell-off towards 1.3520, en route to 1.3361. Intraday crucial support can be spotted at 1.3787.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
I believe, that last Friday's high at 1.3869 was the final of the consolidation pattern above 1.3608 and currently the downtrend has been renewed for a break through 1.3655, towards 1.3520. The intraday outlook is negative, targeting 1.3608 low and initial resistance is projected at 1.3754.
November 8. 2011
Current level - 1.3778
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Obviously the corrective pattern above 1.3608 is still underway and the intraday outlook is positive, for a rise towards 1.3869 and probably for a tight test below 1.3950 resistance area. Crucial on the downside is yesterday's low at 1.3679.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Yesterday's minor uptrend failed to break above 1.3869 and peaked at 1.3859, setting the beginning of a massive slide towards 1.3520 and later on to 1.3361. The intraday outlook is by all means negative for 1.3608, en route to 1.3520 with a crucial resistance at 1.3814.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
As expected, the the pair suffered a massive sell-off and filled my first target at 1.3520. The recent bottom at 1.3483 has already been confirmed as a reversal point and currently a consolidation pattern is underway, towards 1.3660 resistance area. The overall bias on the mid-frames remains negative for 1.3361 with a crucial level at 1.3860. Initial intraday support is projected at 1.3550.
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.
Still in the corrective pattern below 1.5980 and the overall bias continues to be negative for 1.5853 major support, en route to 1.5680. Later today expect a sell-off for the intraday target at 1.5680.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
The recent break above 1.3660 signals, that a possible bottom is in place at 1.3483, so current outlook is positive while trading takes place above 1.3660, for a break through 1.3814, en route to 1.3950. The intraday bias is still negative with a static resistance at 1.3740.
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.
The downtrend from 1.6092 is still intact, heading for a tight test of 1.5850 support area. I continue to expect a reversal around the mentioned support, which should initiate an uptrend towards 1.6168.
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.
The downtrend here remains intact and after a brief consolidation below 1.5850, a new low has been reached at 1.5690. My outlook is still bearish for 1.5630, en route to 1.5530. Major resistance on the upside remains 1.5850 area.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
The consolidation pattern above 1.3420 is still underway and although the intraday bias is positive above 1.3471, I expect a reversal later today, for a sell-off towards 1.3361. Trigger on the downside is 1.3445.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
The consolidation pattern above 1.3420 is already complete with Friday's peak at 1.3612 and current bias is negative, towards 1.3361 target area. Crucial resistance on the upside is 1.3540.
The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.
The overall bias continues to be bearish towards 1.5510 reversal area and currently the pair trades in minor range below 1.5695 resistance area. Crucial on the upside is 1.5740.
The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.
Yesterday's intraday rise peaked at 1.3567 and currently the downtrend has been renewed towards my target at 1.3361. Initial resistance is projected at 1.3467 and first support on the downside is 1.3420.
