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EUR/USD Emerging Signal

admin — Fri, 03 Sep 2010 07:59:24 +0000

The pair’s trading between the retested levels at 1.2770 and 61.8% Fibonacci levels at 1.2830 and it found difficulty in breaching due to the negative sings appearing on the four-hour chart momentum indicator. Volatility is projected that might witness another touch for 1.2770 levels before the pair extend the bullish intraday trend, with targets at 1.2950, which requires a daily closing above 1.2770 – 1.2730. keeping in mind the importance of today’s news from the US regarding unemployment, to be published at 12:30 GMT.

The trading range for today is among the major support at 1.2670 and the major resistance at 1.2950.

The short term trend is to the downside as far as 1.3770 is intact with targets at 1.1700.

Support: 1.2770, 1.2730, 1.2675, 1.2625, 1.2600
Resistance: 1.2840, 1.2900, 1.2950, 1.3000, 1.3090

Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.2770 targeting 1.2900 and stop loss below 1.2675 might be appropriate

GBP/USD Emerging Signal

admin — Fri, 03 Sep 2010 07:58:36 +0000

The pair continues to trade within the short-term descending channel, where another subsidiary deprecating channel is forming that is keeping the negative pressures on the pair’s trading, which is supported by SMA 50 and the negativity on Stochastic . A bearish intraday direction is projected today with targets at 1.5295 that if breached would pave the path for additional bearishness to target 1.5160 levels, while noting the importance of stability in trading below 1.5555 in order to achieve the suggested scenario.

The trading range for today is among the major support at 1.5160 and the major resistance at 1.5555.

The short term trend is to the downside as far as 1.6070 is intact with targets at 1.3800.

Support: 1.5385, 1.5320, 1.5295, 1.5235, 1.5160
Resistance: 1.5430, 1.5500, 1.5555, 1.5585, 1.5650

Recommendation Based on the charts and explanations above our opinion is selling the pair around of 1.5430 targeting 1.5295 and stop loss above 1.5500 might be appropriate

USD/JPY Emerging Signal

admin — Fri, 03 Sep 2010 07:57:49 +0000

The pair is narrow traded yesterday below SMA 50 levels, therefore the suggested scenario in our previous reports is still valid, where a bearish intraday direction is projected, supported by negative signs from Stochastic . Initial targets can be found near 83.00 – 82.70, while the short-term descending trend is dependable on a daily closing below 85.40.

The trading range for today is among the major support at 82.70 and the major resistance at 85.40.

The short term trend is to the downside as far as 91.55 is intact with targets at 79.60.

Support: 83.85, 83.30, 82.70, 82.00, 81.60
Resistance: 84.55, 84.85, 85.40, 86.35, 86.90

Recommendation Based on the charts and explanations above our opinion is selling the pair around 84.55 targeting 83.30 and stop loss above 85.40 might be appropriate

USD/CHF Emerging Signal

admin — Fri, 03 Sep 2010 07:57:08 +0000

Trading remains stable and below 1.0180 levels the holds the key for further bullishness to the descending channel’s resistance levels shown in the above chart. Despite the positive momentum signs appearing on the four-hour chart, a negative pressure forces the pair to depreciate and preventing the ascending scenario, therefore, observing today’s trading is recommended, especially a daily closing below 1.0035 levels, which if obtained, would accelerate the bearish short-term trend.

The trading range for today is among the major support at 0.9915 and the major resistance at 1.0290.

The short term trend is to the upside as far as 1.0035 is intact with targets at 1.1120.

Support: 1.0105, 1.0075, 1.0035, 1.0000, 0.9960
Resistance: 1.0180, 1.0215, 1.0255, 1.0305, 1.0365

Recommendation Based on the charts and explanations above our opinion is to observe trading in order to extract further clues that determines the next big moves.

USD/CAD Emerging Signal

admin — Fri, 03 Sep 2010 07:56:05 +0000

The pair attempted to breach the support levels mentioned in yesterday’s report, while currently the pair is rising towards 1.0490 levels, but facing SMA 50 levels as strong resistance that preserves yesterday’s suggested bearish trend, which is supported by negative signs appearing on the stochastic oscillator. These factors force a bearish intraday projection, targeting 1.0395 levels, which requires a clear breach of 1.0490 levels along with stability below 1.0595.

The trading range for today is among the major support at 1.0395 and the major resistance at 1.0670.

The short term trend is to the upside as far as 0.9925 is intact with targets at 1.1485.

Support: 1.0490, 1.0425, 1.0395, 1.0340, 1.0315
Resistance: 1.0565, 1.0595, 1.0655, 1.0730, 1.0745

Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0490 targeting 1.0395 and stop loss below 1.0565 might be appropriate

GBP/JPY Emerging Signal

admin — Fri, 03 Sep 2010 07:55:17 +0000

The GBP/JPY pair is still building a base to be able to breach the key resistance of 130.50 and whilst the uptrend line which carries the upside momentum still hold. Consequently, we keep our proposed bullish outlook over intraday basis, supported by the suggested Elliott count.

The trading range for today is among key support at 126.70 and key resistance at 134.20.

The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.

Support: 129.25, 128.75, 128.00, 127.80, 127.30
Resistance: 130.00, 130.50, 131.00, 131.65, 132.00

Recommendation Based on the charts and explanations above our opinion is, buying the pair with a break of 130.50 targeting 132.80 and stop loss below 128.70 might be appropriate

EUR/JPY Emerging Signal

admin — Fri, 03 Sep 2010 07:53:50 +0000

Stochastic is presently moving inside the overbought areas and that is why we think that the pair could re-test the pivotal support areas of 107.70 before resuming the projected upside rally over intraday basis. SMA 50 is still acting as a solid floor that carries the movements of the re-action for the IM wave of the suggested Elliott count. We recommend reviewing ‘Eye on the pair’ report to get deeper overview.

The trading range for today is among key support at 106.20 and key resistance now at 110.00.

The general trend over short term basis is to the downside, targeting 97.90 as far as areas of 132.50 remain intact.

Support: 107.60, 107.30, 107.05, 106.90, 106.20
Resistance: 108.50, 109.00, 109.45, 110.00, 110.50

Recommendation Based on the charts and explanations above our opinion is, buying the pair around 107.75 targeting 109.80 and stop loss below 106.20 might be appropriate.

EUR/GBP Emerging Signal

admin — Fri, 03 Sep 2010 07:53:07 +0000

The royal pair is still moving according to the bearish harmonic scenario, which is still in favor. As we discussed in the previous report, there is a probability of reaching 161.8% Fibonacci level of XA leg instead of 127% but the overbought sign, which appears on RSI 14, could prevent it from reaching 161.8% of XA leg. Therefore, we keep our overview unchanged over intraday basis, supported by the negative sign that started to appear on AROON indicator.

The trading range for today is among the key support at 0.8180 and key resistance now at 0.8420.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of 0.8965 remain intact.

Support: 0.8295, 0.8255, 0.8235, 0.8215, 0.8180
Resistance: 0.8360, 0.8380, 0.8400, 0.8420, 0.8460

Recommendation Based on the charts and explanations above our opinion is, selling the pair around 0.8320 targeting 0.8240 and stop loss above 0.8380 might be appropriate.

EUR/USD Emerging Signal

admin — Thu, 02 Sep 2010 07:44:49 +0000

The pair assured yesterday the forming of a rising technical pattern that was mentioned in our previous reports, but stopped at the 61.8% Fibonacci levels that is forming into a resistance, forcing the pair to retest the previously breached neckline at 1.2770 before extending the ascending intraday basis direction that is expected today, with Initial targets at 1.2900 – 1.2950; Noting that if trading stabilizes below 1.2770 – 1.2730, it will weaken the chances of accomplishing the suggested targets and the short-term descending trend will be activated again.

The trading range for today is among the major support at 1.2670 and the major resistance at 1.2950.

The short term trend is to the downside as far as 1.3770 is intact with targets at 1.1700.

Support: 1.2770, 1.2730, 1.2675, 1.2625, 1.2600
Resistance: 1.2840, 1.2900, 1.2950, 1.3000, 1.3090

Recommendation Based on the charts and explanations above our opinion is buying the pair around 1.2770 targeting 1.2900 and stop loss below 1.2675 might be appropriate

GBP/USD Emerging Signal

admin — Thu, 02 Sep 2010 07:44:03 +0000

The pair entered a previously breached descending channel, where it faces the MA 50 that is considered a strong resistance to the descending intraday direction. With the negativity of Stochastic , we expect a bearish intraday direction, targeting 1.5310 then 1.5235, noting that trading must remain below 1.5555 to achieve the suggested targets.

The trading range for today is among the major support at 1.5235 and the major resistance at 1.5555.

The short term trend is to the downside as far as 1.6070 is intact with targets at 1.3800.

Support: 1.5385, 1.5310, 1.5280, 1.5235, 1.5160
Resistance: 1.5475, 1.5555, 1.5585, 1.5650, 1.5710

Recommendation Based on the charts and explanations above our opinion is selling the pair with the breach of 1.5385 targeting 1.5235 and stop loss above 1.5475 might be appropriate