FXTechstrategy Team: Forex Analysis

[FXTechstrategy Team]

AUDUSD: Price Failure Turns Risk Towards The 1.0422/7 Levels (Forex Technical Analys

AUDUSD: The pair almost reversed all of its recovery started from the 1.0422 level on Tuesday.This suggests that further weakness could follow towards the 1.0422/7 levels with a turn below there aiming at its .382 Fib Ret at 1.0395 level followed by the 1.0366 level, its daily 200 ema. Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to return to its Feb 08'2012 high at 1.0853. Above here will end its present bear threats and open further upside risk towards the 1.0900 level, representing its psycho level. Further out, the next upside target resides at the 1.1000/4 levels and ultimately, its July 27’2011 high at 1.1078. All in all, the pair remains biased to the downisde

 

[Lord Flasheart]

Re: AUDUSD: Price Failure Turns Risk Towards The 1.0422/7 Levels (Forex Technical An

AUDUSD: The pair almost reversed all of its recovery started from the 1.0422 level on Tuesday.This suggests that further weakness could follow towards the 1.0422/7 levels with a turn below there aiming at its .382 Fib Ret at 1.0395 level followed by the 1.0366 level, its daily 200 ema. Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to return to its Feb 08'2012 high at 1.0853. Above here will end its present bear threats and open further upside risk towards the 1.0900 level, representing its psycho level. Further out, the next upside target resides at the 1.1000/4 levels and ultimately, its July 27’2011 high at 1.1078. All in all, the pair remains biased to the downisde

talk about hedging your bets,how does this help us

 

[FXTechstrategy Team]

AUDUSD: Weakens, Breaks Support, Targets The 1.0300 Level (Special Focus)

AUDUSD: With AUDUSD violating its key supports at the 1.0422/7 levels in early trading today, the risk is for it to weaken further. The pair is testing the 1.0366 level, its daily 200 ema and a decisive break of there will turn focus to its psycho level at 1.0300. Further down, support stands at the 1.0253 level, its .618 Feb Ret (0.9861-1.0853 rally). Its daily RSI is bearish and pointing lower supporting this view. The alternative scenario will be for the pair to return to its Feb 08'2012 high at 1.0853. Above here will end its present bear threats and open further upside risk towards the 1.0900 level, representing its psycho level. Further out, the next upside target resides at the 1.1000/4 levels and ultimately, its July 27’2011 high at 1.1078. Until this occurs, our bias remains lower on further weakness. All in all, the pair remains biased to the downside.

 

[FXTechstrategy Team]

Dollar Index: Biased To The Upside Above Rising Trendline

US Dollar Index: Although the Index is vulnerable to the downside, it continues to hold on to its broader medium term upside. As long as it continues to hold above its medium term rising trendline(blue), its outlook remains higher with eyes on the 80.73 level. A violation of here will call for a run at the 81.78 level, its Jan 2012 high. A breather may occur here but if that level breaks, further upside offensive should build up towards the 83.55 level, its Aug’2011 high and possibly higher towards the 84.55 level. Its daily RSI is bullish and pointing higher suggesting further strength. Alternatively, on any pullbacks, its rising trendline currently seen at 78.70 level will be targeted followed by its Feb 06’2012 low at 78.36 level with a breach turning attention to the 77.97 level and then the 76.71 level. All in all, the Index continues to retain its medium term upside bias though vulnerable.

 

[FXTechstrategy Team]

EURUSD: Recovers, Targets Further Upside Strength.

EURUSD: While EUR may be biased to the upside in the immediate term, it will have to break and hold above the 1.3286/8 levels to trigger further upside.Further out, a breach of here will resume its uptrend and call for a push towards its Dec 02’2011 high at 1.3547 where a break will target its weekly 200 ema at 1.3642. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, on any price failure, the pair will aim at the 1.3003 level where a break will bring further declines towards the 1.2975 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. All in all, EUR continues to recover higher.

 

[FXTechstrategy Team]

USDCHF – Sees Bearish Momentum, Risk Shifts To The 0.9000/0.8929 Levels.

USDCHF: The pair remains vulnerable to the downside as it closed lower reversing its two-week gains the past week. This is coming on the back of a price failure at the 0.9334 level and with bearish momentum remaining intact, further weakness is likely to occur towards the 0.9000 level, its psycho level with a violation of there turning attention to the 0.8929 level, its Feb 24’2012 low. Further down, the 0.8890 level, its Nov 03’2011 low comes in as the next target where a breach will call for further declines towards the 0.8700 level, its psycho level. Its weekly RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return above the 0.9334 level, its Mar 15’2012 high to resume its recovery. This will pave the way for a run at the 0.9504 level, its Jan 13’2012 low and subsequently the 0.9591 level. On the whole, the pair remains biased to the downside with eyes on the 0.9000/0/8929 levels.

 

[FXTechstrategy Team]

Weekly Technical Strategist: EURUSD

EURUSD: Closes Higher, Set To Strengthen Further

EURUSD: The pair closed higher for a second week in a row since halting its recent declines. However, it will have to set a foothold above the 1.3288 level to convince the market of further recovery. 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. An eventual 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]

Special Focus: USDCHF

USDCHF – Risk Points To The Downside Nearer Term, Set For The 0.8929 Level

USDCHF: The pair remains biased to the downside and now looks to return to the 0.8929 level, its Feb 24’2012 low. Further down, the 0.8890 level, its Nov 03’2011 low comes in as the next target where a breach will call for further declines towards the 0.8700 level, its psycho level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to return above the 0.9334 level, its Mar 15’2012 high to resume its recovery. This will pave the way for a run at the 0.9504 level, its Jan 13’2012 low and subsequently the 0.9591 level. On the whole, the pair remains biased to the downside with eyes on the 0.8929 level and beyond.

 

[FXTechstrategy Team]

EURUSD: Maintains Recovery Tone Despite Price Hesitation (Special Focus)

EURUSD: Although the pair halted its recovery started from the 1.3003 level on Tuesday to close lower, it remains biased to the upside. As long as it can maintain above its broken resistance at the 1.3288 level, it should eventually return to the 1.3483 level. A breach will pave the way for a move further higher towards its Dec 02’2011 high at 1.3547 with price extension targeting 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. An eventual break of here 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 biased to the upside on correction.

 

[FXTechstrategy Team]

USDCAD: Sees Upside Risk, The 1.0048 Level To Cap Gains (Forex Technical Analysis).

USDCAD: While the 1.0048 level caps upside gains, our outlook remains lower. In such a case, its major support standing at the 0.9840 level, its Mar 01’2011 low will come in as support where a decisive violation will aim at the 0.9804 level, its Sept 19’2011 low and possibly even lower towards the 0.9779 level, its Sept 16’2011 low. Its daily RSI is bearish and pointing lower supporting this view. On the upside, the pair will have to climb above the 1.0033/48 levels to annul its present bearishness and then bring further gains towards the 1.0146 level. Further out, resistance resides at the 1.0250 level and then the.0317 level followed by the 1.0423 level, its Dec 14’2011 high. All in all, the pair remains vulnerable to the downside in the short term.

 

[FXTechstrategy Team]

USDCHF – Weak, Eyes Further Declines (Technical Focus)

USDCHF: USDCHF remains vulnerable to the downside as it looks to weaken further. This development now leaves the pair targeting the 0.8929 level, its Feb 24’2012 low. Further down, the 0.8890 level, its Nov 03’2011 low will be targeted where a breach will call for further declines towards the 0.8700 level, its psycho level. On the upside, the pair will have to return above the 0.9334 level to resume its recovery. This will open the door for a run at the 0.9504 level, its Jan 13’2012 low and then the 0.9591 level. On the whole, the pair remains biased to the downside on price failure.

 

[FXTechstrategy Team]

GBPJPY: Reverses Weakness, Set To Strengthen Further (Weekly Outlook)

GBPJPY – With the cross reversing its previous week gains to close higher the past week, the risk is for GBPJPY to strengthen further in the new week. In such a case, the 135.09 level will be targeted with a violation of there turning attention to the 136.97 level and subsequently, its April’2011 high at 139.99. Its weekly RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at 130.08 level, Mar 02’2012 high where a breather may occur and turn the cross back up. 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. All in all, the cross remains biased to the upside having reversed its recent corrective weakness.

 

[FXTechstrategy Team]

EURUSD: Strengthens, Set To Extend Bullish Momentum (Weekly Technical Strategist)

EURUSD: With a third week of upside gains occurring the past week, further bull pressure is expected towards the 1.3483 level. A breach will pave the way for a move further higher towards its Dec 02’2011 high at 1.3547. Further out, a violation of the 1.3547 level will target its weekly 200 ema at 1.3642. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, the risk to this analysis will be a return to the 1.3003 level, its Mar’2012 low followed by the 1.2975 level. An eventual break of here 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 biased to the upside on further offensive.

 

[FXTechstrategy Team]

EURUSD: Biased To The Upside Nearer Term, Targets Key Resistance(Technical Focus)

EURUSD: The immediate upside target for the pair is seen at the 1.3387 level where a violation will call for further strength towards the 1.3484 level. As long as EUR can maintain above its broken resistance at the 1.3288 level, the above view remains intact. A breach of the 1.3484 level will pave the way for a move further higher towards its Dec 02’2011 high at 1.3547 with price extension targeting its weekly 200 ema at 1.3642. Its daily is bullish and pointing higher supporting this view. 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. An eventual break of here if seen will push the pair further lower towards the 1.2879 level, its Jan 23’2011 low . All in all, EUR remains biased to the upside nearer term.

 

[FXTechstrategy Team]

USDJPY: Stages A Recovery But Vulnerable.

USDJPY: A sharp recovery saw the pair closing higher on Tuesday but it continues to hold its downside vulnerability. Unless we see a return above its key resistance at the 84.17 level, the risk is for USDJPY to return to the 81.86/55 levels. We may see price hesitation or even a reversal of roles as support occurring here thus turning the pair higher. However, if these levels fail to hold, further weakness should build up towards the 80.57 level where a breach will target the 78.18/27 levels. On the upside, a return above the 84.17 level is required to resume its upside towards the 85.49 level and then the 86.88 level. All in all, as long as USDJPY continues to trade and hold below the 84.17 level, there is risk of a consolidation with downside bias.

 

[FXTechstrategy Team]

EURGBP: Maintains Downside Threats (Daily Technical Strategist)

EURGBP- With a follow through lower and a test of its key support at the 0.8263 level seen on Wednesday, risk of further declines cannot be ruled out. In such a case, below the 0.8263 level will set the stage for move further lower towards its Aug’2010 low at 0.8141. Further down, support comes in at its 2010 low at 0.8066 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, a return above the 0.8423 level, its Mar 13’2012 low will have to occur to reverse its present bear threats. This could force further upside towards the 0.8504 level with a violation of there turning attention to its Dec 08’2011 high at 0.8560. Further out, the 0.8616 level will come in as the next upside objective. All in all, the cross faces downside risks.

 

[FXTechstrategy Team]

EURGBP: Weakens, Eyes The 0.8141 level.

EURGBP- With the 0.8263 level broken following the cross’s continued weakness, risk of further declines cannot be ruled out. In such a case, its Aug’2010 low at 0.8141 will be targeted with a loss of there allowing for more declines towards its 2010 low at 0.8066 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, a return above the 0.8423 level, its Mar 13’2012 low will have to occur to reverse EURGBP’s present bear threats. This if seen could force further upside towards the 0.8504 level with a violation of there turning attention to its Dec 08’2011 high at 0.8560. Further out, the 0.8616 level will come in as the next upside objective. All in all, the cross faces further downside risks.

 

[alphadude]

Re: EURUSD: Maintains Recovery Tone Despite Price Hesitation (Special Focus)

you are saying "EUR may go up, down, or neutral."

dudes; this is the most boring post i read today; and the chart is squashy

 

[forker]

EURUSD: As long as it can maintain above its broken resistance .

what broken resistance? what recovery? its ranging......

 

[FXTechstrategy Team]

USDJPY: Reverses Gain, Looks To Extend Weakness (The Week Ahead)

USDJPY: Unless we see a return above the 83.37 level and the 84.17 level, the risk is for USDJPY to continue to weaken in the new week. This is coming on the back of a strong sell off the past week. This development now leaves the pair eyeing further declines towards the 81.08, its Mar 08’2012 low where a violation will call for a push lower towards the 80.57 level. Further down, support stands at the 78.18/27 levels. Its weekly RSI is bearish and pointing lower suggesting further declines. On the upside, a return above the 83.37 level and the 84.17 level is required to resume its upside towards the 85.49 level and then the 86.88 level. All in all, USDJPY continues to face bear threats as it looks to extend its bear pressure.