Broke below the interim rising support at 1.5590 on Thursday, which brought the short-term uptrend to a halt. The recent correction in Euro has also has forced profit taking in commodities. Bearish below the falling resistance coming in at 1.5650 today. To the downside the rising support is now coming in at 1.5084 and break out level of 1.4967. Also keep in mind that 38,20% Fibonacci retracement of the recent 1.4438 to 1.59030 move is at 1.5344 (see 240 min chart).
Support: 1.5344 (38,20% Fibonacci) 1.5087 (rising support), 1.4967 (break out level)
Resistance: 1.5590 (former rising sup), 1.5650 (falling res), 1.5903 (all time high), 1.6000(psychological level)
240 min â€“ 38,20% Fibonacci retracement of the recent 1.4438 to 1.59030 move is at 1.5344
Broke below that key rising support Wednesday last week, which opens for lower levels as long as the falling interim resistance at 2.0023 holds. Next key support is that former overhead resistance coming in at 1.9705 today, which have held up so far on this latest down move.
Support: 1.9736 (break out level), 1.9705 (former overhead res), 1.9650, (break out level), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 2.0023 (falling res), 2.0447 (overhead res), 2.0570 (trend channel resistance)
120 min â€“ Key support at 1.9705 and falling resistance at 2.0023 today.
The break above 1.0000 was as bullish signal and confirms a bottom has been put in place at 0.9647 at least for the short term. Have falling resistance at 1.0187 today and a 20 pips extension above this resistance level opens for a run towards 1.0350 near term.
Support: 1.0000 (break out level for latest rally), 0.9647 (all time low)
Resistance: 1.0187(falling res), 1.0350, 1.0728 (prior low), 1.0936 (break down level),
Need to hold the falling resistance at 101.20 to technically stay in the interim downtrend.
Support: 0.9570 (yearly low)
Resistance: 101.20 (falling res), 102.02 (former underlying sup), 104.95 (former 2008 low), 105.70 (former key support), 107.04 (former rising support), 107.25 (falling res), 108.63 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
Seems to have found good support towards the 151.70 level on Thursday and JPY is weaker across the board the last few days. Interim falling resistance is at 157.32 today, so some way off the current level. Have overhead resistance coming in at 159.00 and falling resistance at 159.20 today (from Dec 08 high).
Support: 151.70 (last weekâ€™s low)
Resistance: 157.32 (falling res), 159.00 (overhead res), 159.20 (falling res), 161.60 (minor res), 162.17 (key res)
The break above 1.0030 last week was the trigger for the spike higher. Next key resistance is now the 2008 high at 1.0378 and any approach of this level should meet selling interest, at least on the first test. Former overhead resistance coming in at 1.0190 today that should act as a support today.
Support: 1.0190 (former overhear res), 1.0030 (break out level), 0.9796 (rising support from Nov07 low), 0.9710 (28/2 low), 0.9639 (underlying support)
Resistance: 1.0378 (key level, overhead res), 1.0400(former key support.)
Rising support coming in a t0.7712 today and while above this level the outlook remains bullish.
Support: 0.7712 (interim rising sup), 0.7612 (former high), 0.7597(key level), 0.7515 (former res)
Resistance: 0.7910 (all time high)
Risk Warning: Any information in this report is based on data considered to be reliable, but no representations or guarantees are made by Avantage Financial GmbH with regard to the accuracy of the data. This information is provided on condition that we accept no responsibility, legal or other for its contents. We, including our directors, officers, employees or publishers, disclaim all liabilities. Any statement constitutes only current opinions, which are subject to change. Neither the information nor any opinion expressed shall be construed to be, or constitute an offer to sell or a solicitation of an offer to buy any investments mentioned herein. Regardless of the account type you choose, there are risks inherent in trading, including the risk of loss greater than the original investment. The opportunity for profit creates a corresponding risk of loss. Anyone wishing to invest in any of the products mentioned should seek their own financial or professional advice. Prices can go down as well as up. Past performance is no guarantee of future results.