European Forex Technicals: EUR/USD Corrects Higher
16 Feb 2011, 08:41
By Francis Bray
A DOW JONES NEWSWIRES COLUMN
Intraday EUR/USD: the recovery off Monday's low at 1.3428 has scope for the 1.3605/25 area, but is corrective in nature. The push through 1.3551 extends the corrective rally towards 1.3575, but several layers of resistance including a projected target and a lower high suggest upside scope is limited to the 1.3625 area. Loss of 1.3521 would damage the positive outlook, but movement only below the 1.3478/1.3460 lows would bring the focus sharply back onto the 1.3428 low.
Weekly chart EUR/USD trend: Bearish.
Intraday GBP/USD: Tuesday's high at 1.6170 is set to be broken as the recovery off 1.5964 threatens to extend. The Feb. 11 low at 1.5964 is likely to become a false downside break and the Feb. 3 reaction high at 1.6277 is now looking vulnerable. The key November 2010 reaction high at 1.6298 lies just above. Only a reversal below 1.6009 would question the positive outlook and bring the 1.5964 low back into focus.
Weekly chart GBP/USD trend: Bullish.
Intraday USD/CHF: extends the setback off the Feb. 11 peak at 0.9776 to challenge support at 0.9615. Increasing bear momentum suggests there is room for a break below 0.9615 to expose the 1.618 Fibonacci extension target at 0.9573, but the fortified 0.9550 area will limit the scope for weakness. Regaining ground above 0.9680 is required to open the 0.9730 intraday lower high.
Weekly chart USD/CHF trend: Bullish.
I do post this today again ... as I see that many of us are not able to see what the market wants to give us ...
Those who are looking for reliable information ... should have a chance to get some ... mehr kann ich nicht tun ... it's up to you ... I have got not soo much time for Plapperei ...
At least there are only very few here who works with a system that is based on real experience that could work for you as well ...
That's why ...
;-|
16 Feb 2011, 08:41
By Francis Bray
A DOW JONES NEWSWIRES COLUMN
Intraday EUR/USD: the recovery off Monday's low at 1.3428 has scope for the 1.3605/25 area, but is corrective in nature. The push through 1.3551 extends the corrective rally towards 1.3575, but several layers of resistance including a projected target and a lower high suggest upside scope is limited to the 1.3625 area. Loss of 1.3521 would damage the positive outlook, but movement only below the 1.3478/1.3460 lows would bring the focus sharply back onto the 1.3428 low.
Weekly chart EUR/USD trend: Bearish.
Intraday GBP/USD: Tuesday's high at 1.6170 is set to be broken as the recovery off 1.5964 threatens to extend. The Feb. 11 low at 1.5964 is likely to become a false downside break and the Feb. 3 reaction high at 1.6277 is now looking vulnerable. The key November 2010 reaction high at 1.6298 lies just above. Only a reversal below 1.6009 would question the positive outlook and bring the 1.5964 low back into focus.
Weekly chart GBP/USD trend: Bullish.
Intraday USD/CHF: extends the setback off the Feb. 11 peak at 0.9776 to challenge support at 0.9615. Increasing bear momentum suggests there is room for a break below 0.9615 to expose the 1.618 Fibonacci extension target at 0.9573, but the fortified 0.9550 area will limit the scope for weakness. Regaining ground above 0.9680 is required to open the 0.9730 intraday lower high.
Weekly chart USD/CHF trend: Bullish.
I do post this today again ... as I see that many of us are not able to see what the market wants to give us ...
Those who are looking for reliable information ... should have a chance to get some ... mehr kann ich nicht tun ... it's up to you ... I have got not soo much time for Plapperei ...
At least there are only very few here who works with a system that is based on real experience that could work for you as well ...
That's why ...
;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
