Moved above the 1.50 handle at the start of Asia session triggering stops that made it pop higher. Have overhead resistance going back to 2004 Dec high coming in at 1.5086 today that should be somewhat of a resistance and should bounce off this resistance level on the first test, so watch this level. How strong the bounce is depends on how strong the Euro momentum is. Have short term rising support at 1.4714 today, so while above this rising support the outlook is for higher levels. Looking at the chart in a longer term view the absolute key rising support is now coming in at 1.4332, which must hold to keep alive the prospects for higher levels.
Support: 1.4970(former high), 1.4750 (break out level), 1.4714 (risings support), 1.453, 1.4360, 1.4332 (key swing level)
Resistance: 1.5086 (overhead resistance going back to Dec 2004 high)
240 min â€“ Rising support at 1.4813 and 1.4714.
The short term bullish momentum is intact above of 1.9736 break out level today and more support found at the 1.9640 level (yesterdayâ€™s low). To the upside 1.9960 is the key level to watch, this is basically the 2008 high and should provide good resistance on the first test towards this level.
Support: 1.9736 (break out level), 1.9640 (yesterdayâ€™s low), 1.9500 (break out level), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 1.9960 (key level), 2.0100, 2.0170 (Key level)
120 min â€“ Popped higher after taking out 1.9736 resistance, rising short term support at 1.9725 today.
Took out 1.0836 and accelerated lower yesterday. Have now some underlying support at 1.0670 that should provide some support today on any more towards this level one can expect a bounce on the first test. Falling resistance coming in at 1.0987 today. Key resistance remains 1.1120 and falling resistance at 1.1091 so might be worth selling any rallies towards these levels and go long on a break above 1.1140.
Support: 1.0670 (underlying support), 1.0561(underlying support)
Resistance: 1.0936 (break down level), 1.0987 (falling res), 1.1084 (overhead res), 1.1120, 1.1205(former support level), 1.1350(former support), and 1.1441 (key falling resistance from Jun 07 highs)
From yesterday Basically still trading within the consolidation pattern with support at 107.04 and overhead resistance at 108.63. These levels are the key points to watch for a more directional move. Broke out of this pattern overnight and should see a follow through of at least 40-70 pips on this break today. Next support point is at 105.90 now.
Support: 107.04 (rising support), 105.90 (key level), 104.95
Resistance: 108.63 (overhead res), 110.00, 110.70, 112.80 (key level) 114.60 (key level), 114.73 (reaction high 11/7-07)
Have rising support coming in at 159.46 today and while above this level it the bullish momentum is intact and prospects for higher levels is likely. That being said it looks like it was rejected towards 161.60 resistance overnight and has since reversed lower, this indicates that it could fall back towards the rising support at 159.46 near term.
Support: 159.46 (short term rising support) 157.06 (former key res), 154.95, 153.56 (long term rising trend line)
Resistance: 161.60 (minor res), 162.17 (key res)
The close below 0.9950 materialized and sent the cross much lower and taking out 0.9830 key support as well. Next key level to watch is now 0.9750 (Dec 2007 low).Falling resistance is all the way up at 1.0158 today and overhead resistance at 1.0222 today.
Support: 0.9750 (key level, Dec07 low), 0.9650 (underlying support)
Resistance: 0.9950(break down level), 1.0158 (short term falling res), 1.0222(overhead res), 1.0280 (falling res from Aug 07 high), 1.0380 (key level, overhead res), 1.0400(former key support.)
Outlook remains the same as last few days. Still bullish momentum intact above the 0.7495 break out level and next resistance level is the all time high at 0.7612. Rising support coming in at 0.7465 and overhead resistance at 0.7575 today.
Support: 0.7495 (former res), 0.7465 (risings support), 0.7400, 0.7387 (rising sup), 0.7284 (rising support)
Resistance: 0.7575 (overhead res), 0.7612 (all time high)
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