FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

EURUSD: Biased To The Upside Nearer Term But Continues To Consolidate (Currency Outlo

EURUSD: The pair will have to break and hold above the 1.3233 level, its Jan 27’2012 high to prevent a return to the 1.3025 level, its Feb 01’2012 low.If the latter occurs, EUR will decline further towards the 1.2930 level, its Jan 25’2011 low. Further down, support lies at the 1.2856/75 level, its Dec 29’2011 low/Jan 2011 low. Its daily RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to return to the 1.3233 level to annul its present price hesitation where a breach will set the stage for further strength towards the 1.3375 level, its Dec 12’12 high ahead of its Dec 02’2011 high at 1.3547. All in all, though still retaining its nearer term uptrend, it faces prices hesitation.

 

[StockHunter]

Re: EURUSD: Biased To The Upside Nearer Term But Continues To Consolidate (Currency O

Sounds like a good assessment to me

 

[FXTechstrategy Team]

Re: EURUSD: Biased To The Upside Nearer Term But Continues To Consolidate (Currency O

Hi,

Thanks. We still believe EURUSD has more upside to go following its rally off the 1.2620 level (nearer term rally). It should head back up on ending its present consolidation.

 

[FXTechstrategy Team]

AUDUSD: shots Through The 1.0749 Level, Sets Up For Further Strength (Currency Outloo

AUDUSD: A strong rally saw AUDUSD pushing through its key resistance at the 1.0749 level, its Oct 27’2011 high to close the week higher on Friday.This development has left the possibility of a return to the 1.0800 level on the cards. Further out, the next upside target resides at the 1.0900 level and subsequently its Aug 02'2011 high at 1.1004. Its daily and weekly RSI are bullish and pointing higher supporting this view. On the other hand, on any pullbacks, the 1.0749 level and the 1.0569 level, its Oct 31 high will be aimed at. A reversal of roles as support is expected to occur at those levels and turn the pair higher. However, a violation of there will open the door for a run at 1.0444 level followed by the 1.0230 level, its Jan 13’2012 low and then the 1.0141 level, its Jan 09’2012. All in all, the pair faces the risk of strengthening further having taken out its key resistance at 1.0749 level.

 

[FXTechstrategy Team]

EURUSD: Bullish Momentum Remains Despite Price Hesitation (Weekly Technical Strategis

EURUSD: Despite a marginal lower close due to price hesitation the past week, its broader upside outlook remains intact.The pair must break and hold above the 1.3233 level to strengthen further with eyes on the 1.3375 level, its Dec 12’12 level. On further price extension, EUR should target the 1.3484 level, its Dec 05’2011 high and possibly higher towards its Dec 02’2011 high at 1.3547. Its weekly RSI is bullish and pointing higher suggesting further strength. Alternatively, on any pullback, the 1.3074 level will be targeted where a reversal of roles as support is likely to occur and turn the pair back up. However, if that level is taken out, further declines is expected towards the 1.2856/75 level, its Dec 29’2011 low/Jan 2011 low. Further down, support lies at the 1.2624 level where a loss will resume its medium term weakness and aim at the 1.2587 level, its Aug 2010 low. All in all, EUR continues to retain its corrective recovery tone despite a hitch the past week.

 

[FXTechstrategy Team]

Special Focus: EURUSD

EURUSD: Broader Bias Points Higher, key Resistance Lies At The 1.3233 Level

EURUSD: The pair may be consolidating its rally from the 1.2620 to 1.3233 levels but continues to hold on to bullish bias with eyes on a return to the 1.3233 level.A clearance of here will see EUR strengthening further with eyes on the 1.3375 level, its Dec 12’12 level. On further price extension, the pair should target the 1.3484 level, its Dec 05’2011 high and possibly higher towards its Dec 02’2011 high at 1.3547. Alternatively, on continued consolidation, downside risk could develop towards the 1.3074 level where a reversal of roles as support is likely to occur and turn the pair back up. However, if that level is taken out, further declines is expected towards the 1.2856/75 level, its Dec 29’2011 low/Jan 2011 low. Further down, support lies at the 1.2624 level followed by the 1.2587 level, its Aug 2010 low.

 

[FXTechstrategy Team]

AUDUSD: Reverses Gains, On The Offensive (Special Focus)

AUDUSD: With AUDUSD reversing its Monday losses and challenging its psycho level at 1.0800, the risk is for further strengthen to occur.This if seen will leave the possibility of targeting the 1.0900 level, representing psycho level on the table. Further out, the next upside target resides at the 1.1000/4 levels and ultimately, its July 27’2011 high at 1.1078. Its daily RSI is bullish and pointing higher supporting this view. On the other hand, on any pullbacks, the 1.0749 level, its Oct 27’2011 high where a reversal of roles as support will occur and then turn the pair back up. However, if this fails to happen, we could see the pair aiming at the 1.0569 level, its Oct 31 high with a violation opening the door for a run at 1.0444 level. Below here will set the stage for further declines towards the 1.0230 level, its Jan 13’2012 low. All in all, the pair faces the risk of strengthening further.

 

[gfs]

Re: Special Focus: EURUSD

GBP FUTURES


GBP/USD

Date 07/02/2012
Total Open Interest 192,417
Net Marginal Change -246
Marginal Accumulation 3,584
Change in Total OI (%) 1.9

The British Pound futures market remains flat. It has added 3,584 new transactions since the last decline on 25th January. The spot price advanced further upwards. Cable didn’t correct as deeply as EUR/USD therefore there was no opportunity to enter long positions. COT weekly report confirms the similar dynamic to euro futures. Commercials are now dumping their long contracts. With stops triggered and more short covering we should see further advance in this market.

 

[Nigel-P]

Re: AUDUSD: Reverses Gains, On The Offensive (Special Focus)

Hi FXTechstrategy Team

I have no doubt your analysis is appreciated but I was wondering could you perhaps keep it in one thread, or even a thread per currency pair? You are opening a lot of new threads with just one post in them. You have 8 threads on the first page alone!

 

[FXTechstrategy Team]

EURJPY: Risk Continues To Point To The 102.52 Level And Beyond (Technical Focus)

EURJPY- With the cross holding above the 102.19 level and challenging the 102.52 level, its Dec 21’2011 low, further upside offensive looks to continue.Above the 102.52 level will call for a run at its Dec 12’2011 high at 103.86 and possibly higher towards its Dec 02’2011 high at 105.69. Its daily RSI is bullish and pointing higher suggesting further strength. Alternatively, the risk to our analysis will be for the cross to return to the 99.02 level where we could see a reversal of roles as support to occur. However, below here if seen will switch attention to the 97.02/00 levels where a breach will resume its broader downtrend towards the 96.76 level, its Dec 12’2000 low. Further down, support stands at the 96.00 level, its psycho level. All in all, EURJPY faces further corrective recovery risk having returned above the 102.19 level.

 

[Nigel-P]

Re: EURJPY: Risk Continues To Point To The 102.52 Level And Beyond (Technical Focus)

Just repeating from yesterday.

Hi FXTechstrategy Team

I have no doubt your analysis is appreciated but I was wondering could you perhaps keep it in one thread, or even a thread per currency pair? You are opening a lot of new threads with just one post in them. You have 8 threads on the first page alone!

 

[FXTechstrategy Team]

EURJPY: Set To Return To The 109.87 Level (Special Focus)

EURJPY- The cross remains biased to the upside as it looks to resume its broader rally triggered from the 72.05 level. However, it will have to break and close above the 109.87 level to resume that trend. This if seen will pave the way for a run at the 111.52 level, its Oct 31’2011 high. A breather may occur here and then turn it back down probably on a correction. However, if this fails to happen, further strength is likely towards the 112.34 level with a violation of there extending further gains towards the 113.00 and then the 114.14 level, its July 31’2011 high. Conversely, the risk to this analysis will be a return to its Mar 06’2012 low at 105.63 where a violation will call for a run at the 104.49 level, its Dec 09’2011 high and then the 103.27 level. All in all, EURJPY continues to maintain its broader upside tone.

 

[counter_violent]

Re: EURJPY: Set To Return To The 109.87 Level (Special Focus)

EURJPY- The cross remains biased to the upside as it looks to resume its broader rally triggered from the 72.05 level. However, it will have to break and close above the 109.87 level to resume that trend. This if seen will pave the way for a run at the 111.52 level, its Oct 31’2011 high. A breather may occur here and then turn it back down probably on a correction. However, if this fails to happen, further strength is likely towards the 112.34 level with a violation of there extending further gains towards the 113.00 and then the 114.14 level, its July 31’2011 high. Conversely, the risk to this analysis will be a return to its Mar 06’2012 low at 105.63 where a violation will call for a run at the 104.49 level, its Dec 09’2011 high and then the 103.27 level. All in all, EURJPY continues to maintain its broader upside tone.

So, what your saying is, put enough levels on the chart and one of them will get hit !

 

[FXTechstrategy Team]

EURUSD: Extends Weakness, Eyes The 1.2975 Level (Daily Technical Outlook)

EURUSD: EUR remains vulnerable and continues to weaken suggesting a return to the 1.2975 level.This is coming on the back of a break of the 1.3078 level. On continued weakness, the pair will aim at the 1.2930 level, its Jan 225’2011 low with a cut through there allowing for further declines towards the 1.2879 level. Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be for EUR to return above the 1.3484 level, its Dec 05’2011 high. This will resume its uptrend and call for a push towards its Dec 02’2011 high at 1.3547 where a breach will target its weekly 200 ema at 1.3642. All in all, EUR remains vulnerable to the downside.

 

[FXTechstrategy Team]

GBPUSD: Susceptible Within Its Range (Special Focus).

GBPUSD: Continues to remain vulnerable within its range trading environment. However, the big picture still sees the pair maintaining its medium term uptrend started from the 1.5235 level.To resume that uptrend, it will have to break and hold above the 1.5924 level, its Feb 08’2012 high and the 1.5990 level. This will pave the way for a run at the 1.6074 level, its Nov’2011 high and possibly higher towards its Oct 31’2011 high at 1.6161. On the downside, the risk to the analysis will be a convincing break and close below the 1.5642/53 levels, its Feb 14/15’2012 lows. This zone may continue to hold on tests. However, if violated, further lower prices will shape up towards the 1.5497 level, its Jan 10’2012 high. On the whole, the pair may be vulnerable but continues to hold on to its broader medium term uptrend.

 

[FXTechstrategy Team]

USDCHF – Hesitates Below Recent High (Daily Technical Analysis)

USDCHF: The pair is now seeing weakening following a stall in its recovery strength. However, the pair’s bottom forming process still remains intact as long as it can hold above the 0.9071 level and its 200 daily ema. This could see the pair return to its Wednesday high at 0.9331 level with a break of there opening the door for a move towards the 0.9299 level, its Feb 16’2012 high. Further out, the 0.9504 level, its Jan 13’2012 low and then the 0.9591 level will come in as the next upside targets. Alternatively, the risk to our upside view will be for the pair to reverse its present bull pressure and then retarget the 0.8929 level, its Feb 24’2012 low. In such a case, the 0.8890 level, its Nov 03’2011 low will be aimed at where a breach will call for further declines towards the 0.8700 level, its psycho level. On the whole, the pair remains biased to the upside on correction.

 

[FXTechstrategy Team]

GBPJPY: Resumes Uptrend, Targets The 135.09 Level (Weekly Technical Outlook)

GBPJPY – With the cross resuming its short term uptrend the past week, GBPJPY is entering the new week bullish and targeting the 135.09 level, its May 29’2011 high. Its weekly RSI is bullish and supportive this view. Further upside offensive above the 135.09 level will call for a run at 136.97 level followed by its April’2011 high at 139.99. On the downside, support lies at 130.08 level, Mar 02’2012 high where a reversal of roles is likely to occur and then turn the pair higher again. However, if this fails to materialize, further weakness should follow towards the 126.53 level. Further down, support lies at the 125.45 level followed by the 124.50 level and then the 122.02 level, its Jan 25’2012 high. All in all, the cross remains biased to the upside having resumed its short term uptrend.

 

[FXTechstrategy Team]

EURUSD: Halts Declines, Corrective Upside Risk Develops(Weekly Technical Outlook)

EURUSD: Halts Declines, Corrective Upside Risk Develops(Weekly Technical Outlook)

EURUSD: Having halted its declines the past week, the pair may have signaled a temporary bottom may be forming. If this is confirmed, further upside offensive could develop towards the 1.3483 level. A breach will pave the way for move further higher towards its Dec 02’2011 high at 1.3547 where a violation will target its weekly 200 ema at 1.3642. Conversely, the risk to this analysis will be a return to the 1.3003 level traded the past week followed by the 1.2975 level where a break if seen will push the pair further lower towards the 1.2879 level, its Jan 23’2011 low . Further down, support lies at the 1.2620 level. All in all, EUR remains vulnerable to the downside though halting its weakness.

 

[FXTechstrategy Team]

EURGBP: Bears Dominate Price Action, Eye The 0.8263 Level (Special Focus).

EURGBP- With EURGBP closing lower following a reversal of its gains the past, it now looks to weaken further in the days ahead. This will leave the pair targeting the 0.8263 level, its Feb 06’2012 low initially where a breach will aim at its Aug’2010 low at 0.8141. Further down, support comes in at its 2010 low at 0.8066 level. Both its daily and weekly RSI are bearish and pointing lower supporting this view. Alternatively, in order for the cross to annul its downside pressure, it will have to break and hold above the 0.8504 level, its Feb 2012 high. This if seen will open the door for a move further higher towards its Dec 08’2011 high at 0.8560 with a breach exposing the 0.8616 level. All in all, the cross continues to look susceptible to the downside.

 

[FXTechstrategy Team]

GBPJPY: Bullish, Pressure Builds On The 135.09 Level.

GBPJPY – The cross continues to press higher maintaining its short term uptrend and targeting its major resistance at the 135.09 level. Further upside offensive above here will call for a run at 136.97 level followed by its April’2011 high at 139.99. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at 130.08 level, Mar 02’2012 high where a reversal of roles is likely to occur and then turn the pair higher again. However, if this fails to materialize, further weakness should follow towards the 126.53 level. Further down, support lies at the 125.45 level followed by the 124.50 level and then the 122.02 level, its Jan 25’2012 high. All in all, the cross remains biased to the upside having resumed its short term uptrend.