Key support remains the 1.5341 level (low from 24/3-08) and as expected it bounced off this level again on Friday. A break below this level spells weakness and set up a potential test of that 1.5000 break out level. Have interim falling resistance coming in at 1.5557 today that should provide stiff resistance today.
Support: 1.5341 (key level), 1.4967 (break out level)
Resistance: 1.5557 (24/3-08 low), 1.5691 (yesterday’s high), 1.6018 (all time high)
240 min – 38.20% Fibonacci retracement of the 1.4438 to 1.6018 move, is at 1.5414, which is overshoot slightly on Friday. Falling resistance coming in at 1.5557.
Trading inside the falling trend channel since mid March with falling resistance coming in at 2.0089 and the falling support at 1.9510 today. While the falling resistance of this trend channel holds up the momentum remains bearish.
Support: 1.9674 (25/4 daily low), 1.9510 (falling support), 1.9360, 1.9337 (key Jan low), 1.9310
Resistance: 1.9895 (interim falling res), 2.0047 (4/4-08 high), 2.0089 (falling res from Nov07 highs)
120 min – Interim falling resistance kicking in at 1.9895 today.
Took out that former support line (which was resistance on Friday) at 1.0520 to maintain the bullish tone. Interim rising support at 1.0439 today and as longs as this support line holds the tone remains bullish. The next key resistance level now is the January low of 1.0728.
Support: 1.0520 (former break out level), 1.0439 1.0300 (minor support), 1.0116 (rising support), 0.9870, 0.9647 (all time low)
Resistance: 1.0607 (Friday’s high), 1.0728 (January low)
Trading inside a rising trend channel for quite some time now (see chart), support at 103.90 and overhead resistance at 108.30 and it is approaching several key resistance levels. Have the 100 day moving average at 105.55. Then falling resistance from Sep07 highs is coming in at 106.05. So expect to see quite a bit of selling interest towards these levels.
Support: 103.90 (rising support), 100.00, 98.80, 95.70 (yearly low)
Resistance: 105.55 (100 day moving avg.) 106.05(falling support from Sep07 highs), 108.5 (overhead res)
Tested key overhead resistance of 165.30 last week, but as expected the key level held up on the first test. Rising support coming in at 160.95 and have last week’s low of 160.59 as another support point, so as long as the rate stays above these two levels the momentum remains bullish.
Support: 160.95 (rising support), 160.59 (last week’s low), 159.00 (former break out level), 157.64 (former falling res, now sup), 153.60, 151.70 (yearly low)
Resistance: 165.30 (key level, overhead resistance)
Key risings support from the 2008 low is coming in at 1.0076 today and this level needs to hold to keep the recent medium term bullish momentum intact. Key resistance remains the 2008 high of 1.0378. To the upside the falling interim falling resistance is coming in at 1.0247 today.
Support: 1.0076 (rising support from Nov07 low), 0.9710 (28/2 low)
Resistance: 1.0247 (falling res), 1.0378 (key level), 1.0400(former key support.)
Closing some way off the lows Friday, which signals buying interest below that 0.7800 level. Overshoot the rising support at 0.7789 a bit on Friday, but expect this level now to act as support for a potential bounce higher targeting the falling resistance at 0.7938.
Support: 0.7789 (rising sup), 0.7612 (former high), 0.7597(key level), 0.7515 (former res)
Resistance: 0.7938 (interim falling resistance), 0.8097 (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.