The pair broke below the 76.50 support, thus confirming declines towards the 75.50 low. Breaking below 75.50 would open a fresh downside extension ahead of 70.00 in a medium-term. However, should the pair hold above 75.50, we could see a rebound back towards the 77.15-77.40 resistance area, right where both the 100-Day SMA and the 50-Day SMA reside.
The upside surge was capped by the 200-Day SMA at 78.30. Now we see the risks of a decline back towards the 100-Day SMA by 77.20, with a break below to retest the 76.50 support. Only a daily close above the 200-Day SMA would open a door for testing the key 79.50 resistance.
A recovery was capped ahead of the 50-Day SMA by 1.3090, so we could see a bearish reversal and a new attempt to reach the 1.2590 support, with a break and consolidation below to confirm long-term declines towards the 1.1875 low. Only a clear break and consolidation above the 50-Day SMA would confirm a shift in a medium-term structure and accelerate gains towards the 100-Day SMA by 1.3390.
The pair is consolidating by 77.00. The nearest resistance is still eyed by the 50-Day SMA at 77.40. A clear break and consolidation above this level would extend gains towards the 200-Day SMA by 78.40. Otherwise we could see a new drop towards the 76.50 support, with a break below to confirm declines ahead of the 75.50 low.
The pair managed to hold above the 200-Day SMA, thus confirming gains towards the 1.0750 resistance. Only a break back below the 200-Day SMA would negate our constructive outlook and increase the risks of declines towards the 1.0140-1.0165 support area, right where the 50-Day SMA and the 100-Day SMA reside.
The pair is trading by 77.00. The nearest resistance is still eyed by the 50-Day SMA at 77.35. A clear break and consolidation above this level would extend gains towards the 200-Day SMA by 78.40. Otherwise we could see a new drop towards the 76.50 support, with a break below to confirm declines ahead of the 75.50 low.
ForexSQ.com - The EUR/USD is sizing up to be one of the best trending pairs of 2012. The pair has declined over 1622 pips from its October 2011 high at 1.4246. Today’s price action has brought the EUR/USD off of its yearly lows at 1.2624. As the pair retraces, astute trend traders will utilize the opportunity to establish fresh short positions.
ForexSQ.com - The intraday level at 1.5650 is proving to be an important barrier in today’s European session so far, preventing the pair from slipping to lower levels.
The cross is trading half-way its +24 pips range in the absence of any market-mover, as it remained almost indifferent at the Italian bond auctions.
At this moment the cross is advancing a modest 0.06% at 1.5671 facing its fir
Forex News - USD/CHF continues to move sideways in a tight range near daily highs after upside attempts were capped by the 0.9200 psychological level on Wednesday. Despite the widespread Dollar strength, the pair has been unable to rise beyond that level even after a batch of mixed data for the US.
Instead, USD/CHF has spent the last hours consolidating gains below that mark and it is currentl
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The Canadian economy is anticipated to add spare 20.0K jobs in May following the 58.3K expansion predominance the previous month, and the advancing improvement in the liveliness market is likely to spark a bullish reaction in the proper currency as growth prospects alter
Forex news, Just two months ago, interest rate expectations were the most important fundamental driver because the euro and thereby EURUSD. The push began pipe in constitutional when the market just now to heavily price in an energizing trudge of monetary policy from the European Central Bank (in other language an aggressive series of hikes) over the 12-month forecast
Daily Technical Analysis of USD/CHF for 06/June/2011. Forex Technical Analysis will help you to get more understanding regarding your trading strategy. Market runs on Technical and Fundamental Analysis.
