Technical Analysis

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Wed, 09 Jan 2013 16:49:28 GMT

AUD/USD closes in on 1.0560/34

Despite the difficulties the pair has been facing lately, the price remains in an up-trend and should soon challenge 1.0560/34, where the it is expected to be strongly bid.

Wed, 09 Jan 2013 16:49:21 GMT

EUR/JPY rapidly approaches 114.89

Bulls are likely to be reassured in the positive outlook on the currency pair by the most recent action of the pair, even though the day is not yet closed and it may be too soon to draw conclusions.

Wed, 09 Jan 2013 08:42:34 GMT

USD/CHF moves along a down-side resistance

USD/CHF pair is bounded by a down-side resistance at 0.9240. The pair has tested this resistance during the previous week, but the Bollinger band prevented a further appreciation. Situation is really vague now, as USD/CHF is just on the resistance line and it is just the second bullish candle after the previous bearish week. Also the price is in the

Wed, 09 Jan 2013 08:41:52 GMT

USD/JPY demonstrates recovered bullish sentiments

USD/JPY pair demonstrates a recuperation of bullish sentiments, as the price increases to the weekly PP level at 87.49. The pair is driven by fundamental expectations to see an expansion of monetary easing by the bank of Japan, therefore market is guided only by the RSI indicator, which sends signals about overbought points. Currently, the RSI has a value of

Wed, 09 Jan 2013 08:41:40 GMT

GBP/USD tests the 55-day SMA

The Cable moves more volatile than the major currency pair, since GBP/USD is already testing the 55-day SMA at 1.6060. Today, the price is already slightly lower than the average and, if the pair closes beneath the SMA, it is likely to see a further depreciation or even a trend reverse. The closest support levels are at 1.6010, the lower

Wed, 09 Jan 2013 08:41:33 GMT

EUR/USD is too weak to overcome a 1.3121 level

EUR/USD was too weak to overcome a 1.3121 level yesterday, where the monthly PP merges with the weekly PP. As the price demonstrates a lack of bullish impetus to proceed a movement till the 20-day SMA, it is likely to see a recheck of the lower Bollinger band at 1.3037. The lower Bollinger band has already changed a direction by

Tue, 08 Jan 2013 16:21:36 GMT

NZD/USD to bounce off 0.8307/0.8286

Recent performance of NZD/USD could be hardly called univocal and steady, with candles having significantly varying sizes and different directions.

Tue, 08 Jan 2013 16:21:18 GMT

USD/CAD consolidates near 0.9837/08

Bullish market participants do not seem to be disposed to giving in easily, but resist debasement of the greenback with 0.9837/08 acting as a springboard and initiating short-covering.

Tue, 08 Jan 2013 16:21:10 GMT

AUD/USD could be forming a double top pattern

AUD/USD finds difficulties in sustaining a constant appreciation and is thus probable to prove to be lacking bullish momentum to successfully challenge 1.0560/34, a scenario which in turn would open a way towards 1.0625 and 1.0680.

Tue, 08 Jan 2013 16:21:03 GMT

EUR/JPY remains quiet

Whereas forecasts for the next quarters are substantially lower than the spot price—107, 108 and 109 for Q1, Q2 and Q3, respectively, technical analysis suggests there is still some scope for extension of the rally.

Tue, 08 Jan 2013 08:46:07 GMT

USD/CHF slips towards the 20-day SMA

USD/CHF pair's rapid appreciation and a spike above the upper Bollinger band made the price to depreciate. The pair gradually slips towards the 20-day SMA at 0.9170, to balance a bullish and bearish movements. However, price has stuck at a 0.9208 level, where the monthly and weekly PP are situated. Therefore, the situation is vague, as the pair has attempted

Tue, 08 Jan 2013 08:45:52 GMT

USD/JPY fluctuates around the weekly PP at 87.49

USD/JPY has performed a notable decrease yesterday, as the price has slightly passed the weekly PP at 87.49. The major Asian currency pair remains in a bullish trend—above the 20-day and 55-day SMAs, but experiences an oversold situation - the RSI has slipped to 69. The closest support levels are at 86.58, the weekly S1, and the 20-day SMA at

Tue, 08 Jan 2013 08:45:44 GMT

GBP/USD turns round to retest the 55-day SMA

GBP/USD pair increased sharply yesterday, although has not reached any resistance level. Today the price has unexpectedly turned around and is depreciating towards a SMAs area at 1.6083/60, where the 55-day and 100-day SMA are located. It is very likely to see two scenarios today: the price will make a spike down and increase further at least till the 20-day

Tue, 08 Jan 2013 08:45:37 GMT

EUR/USD breaches the monthly PP level at 1.3121

EUR/USD appreciated firmly during the week's first trading session, increasing to a 1.3121 level, where the monthly PP level intersects the weekly PP level. Currently, the price is consolidating and it is very likely to see a further appreciation till the 20-day SMA at 1.3173, as this level is usually reached after making a spike over the Bollinger band. The

Mon, 07 Jan 2013 17:13:19 GMT

NZD/USD's bias is positive

NZD/USD looks to be poised for additional gains, as the rising trend-line proves to be sufficiently strong to direct the pair upwards.

Mon, 07 Jan 2013 17:13:14 GMT

USD/CAD continuously challenges 0.9837/08

USD/CAD remains unable to break neither the down-trend nor the up-trend lines that currently serve as boundaries of the triangle pattern the pair in turn has been forming since mid-September.

Mon, 07 Jan 2013 17:13:08 GMT

AUD/USD gets a foothold above 1.0462/39

The trading range of the currency pair has decreased quite a bit, as bears are unable to overthrow bulls at 1.0462/39, while the latter ones are wary of entering the market at higher levels, bearing in mind proximity of a declining resistance line.

Mon, 07 Jan 2013 17:13:02 GMT

EUR/JPY hangs at 113.81

EUR/JPY has been moving sideways recently, being underpinned by support near 113.81.

Mon, 07 Jan 2013 09:07:59 GMT

USD/JPY faces a down-side correction

Reaching the monthly R1 level at 88.40 forced USD/JPY to experience a down-side correction. Today the pair moves sharply lower, as the majority of technical indicators imply an oversold situation. Since this is the first day of correction, any short position is very risky, but the closest support levels area at 87.49, the weekly PP, and 86.58, the weekly S1.

Mon, 07 Jan 2013 09:07:54 GMT

USD/CHF consolidates around the upper Bollinger band

USD/CHF consolidates around the upper Bollinger band at 0.9267. The price was appreciating very rapidly throughout the last week, thus technical indicators suggested occurrence of a correction. Currently, the price appreciates further and the next important resistance level will be at 0.9288, where the 55-day SMA is situated. Settlement above this level would be a signal for a buy position,

Mon, 07 Jan 2013 09:07:47 GMT

GBP/USD continues a bearish move

After GBP/USD consolidated during Friday's session just before the monthly S1 level at 1.6060, today the price continues its journey south. The cable moves along the lower Bollinger band and breaches the 55-day SMA at 1.6056 level. If the price settles beneath it, it is very likely to see a continuation of a bearish trend. The closest support levels are

Mon, 07 Jan 2013 09:07:42 GMT

EUR/USD retests an up-side resistance at 1.3034

EUR/USD rebounded from an upside resistance at a 1.3020 level on Friday, as the pair was sharply lower than the Bollinger band. Today, the major currency pair continues a down-side movement drifting along with the Bollinger line and retesting an upside resistance at a 1.3034 level. If a breakout is successful, the closest support levels will be at 1.2996/82, where

Fri, 04 Jan 2013 16:39:20 GMT

NZD/USD underpinned by 0.8207

The price has re-tested the rising support trend-line and thus confirmed its topicality for traders, while 0.8259/36 alone was incapable of halting the recent dip.

Fri, 04 Jan 2013 16:39:07 GMT

USD/CAD adds pressure on 0.9837/18

Yesterday the price returned back above 0.9863, although it appears that a cluster of supports at 0.9837/18 is of greater interest to market participants, as this zone protects positive outlook on the pair.

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