Daily Forex Technical Analysis
EUR/USD
The 1.3050 key resistance level has held firm throughout the weekend and volatility has dropped in the beginning of this week trading session, it looks as if the support level at 1.2900 will hold firm and range trading is more likely to continue.
GBP/USD
This pair has tipped the support level 1.9470 last weekend bouncing back from the lower band of the daily Bollinger bends, with low volatility and no special market movers traders expect the range to be persistent in today's trading session... ( read more )
Technical Forex Analysis
February 8, 2007 - Daily Forex Technical Analysis
Daily Forex Technical Analysis
EUR/USD
The 4H chart is clearly in overbought status with stochastic 90 and RSI 89, implying that in the next few hours the bullish trend will continue ,however there is not enough room for a significant strengthening of the EUR. The next major resistance level is located at 1.3040 and we don't think that this trend has lost its momentum.
GBP/USD
The pair was floating overnight and is now consolidating at 1.9711. Hourly studies are mildly bearish, as dailies give mixed signals with a small bullish ... ( read more )
February 7, 2007 - Forex Technical Analysis
Forex Technical Analysis
EUR/USD
The pair continues ranging between 1.2870-1.3050 treading range, halfway up. 4H MACD is neutral but faces up; Slow Stochastics is Bullish yet not overbought. The 200 MA caps possible gains at 1.3020 and we expect significant resistance to rise in this area.
GBP/USD
The October 12th trendline we mentioned in some of our previous reviews on the pair is magically holding firm, and after the pair retested it on Monday, it bounced up over 160 pips. 4H Oscillators are mildly bullish and the upsloping cha... ( read more )
February 6, 2007 - Daily Forex Technical Analysis
Forex Technical Analysis
EUR/USD
The 100 day moving average support at 1.2900 still stands solid since Friday's downtrend. Daily and hourly studies give mixed signals, confirming the 1.29/1.30 range trading notion. It appears that the support of 1.29 will hold once again today, and no significant breaks will occur.
GBP/USD
The pair was floating on quiet water overnight and is now consolidating at 1.9590. Hourly studies are mildly bearish, as dailies give mixed signals with a small bearish bias. Stochastic indicators show tha... ( read more )