Daily Technical Analysis for Wednesday, January 23, 2013 - by ForexPeoples.Com | use H4-TF chart.
EURUSD
The bulls on here. I see, if the buyer then can move above that pivot 1.3325 = yes of course that make plan again for buy OP here is better idea then. And wise SL for buy is better set at bellow the 76.4 fib 1.3285, I see.
GBPUSD
The GU now look still bearish - but, weak, Truly, as I said on the previous day, I see, the bulls can probably here if then triggered by strong bulls candle - price now on move near that demand zone 1.5800.
USDJPY
Price on sideways. We see - this sideways still play here as long as the price candle can still play on above that 76.4 fib 88.37. And till now no nice idea to take new OP here. just wait and see. But, if we use Supply demand - as long as that 76.4 fib at 88.37 can not be break down again by seller = just be aware with bulls reversal (back trend to bulls).
USDCHF
The sideways and most probably to retrach to bulls on here. So, for better idea - if we want to search again for sell OP here = just wait and see after price was truly can break down to more that 38.2 fib at 0.9283 then. 🙂
Regards.