Forex4you Technical Analysis 28/09/10
EUR/USD: Technical Analysis
The pair has been residing in a narrow sideways range during the last session, but it still made an attempt for a growth, testing resistance level 1.3500/05. We currently observe the same attempt – having corrected to support 1.3380/85, the trading went back upwards and is now being carried on at level 1.3490/95. Nevertheless, MACD keeps forming divergence and indicators are rather reluctant to show an upward movement. Such state of events gives us reasons to doubt that growth is likely to continue at the moment, though fast bounce upwards to 1.3540/20 with the following pullback downwards is quite a possibility. Support 1.3200/1.3160 breakout will indicate a reversal to the “bearish” trend.
GBP/USD: Technical Analysis
Assumptions made in the previous comment came true. After sideways consolidation the price returned to growth and currently resides at 1.5860/70. Level 1.5840/45 breakout will indicate further growth to 1.5910/20. Nevertheless, indicators are still showing the weakening of the “bullish” mood, especially when paying attention to MACD divergence. Large-scale correction is obviously coming up, which doesn’t cancel a possibility that it starts from resistance level 1.5910/20. Support level 1.5700 breakout is seen as a signal to the mood change. If the price falls below 1.5740, it’ll indicate weak “bullish” potential.
Analysis by: Forex4you.com written by Joaquin Monfort
Forex4you analyst
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
The pair has been residing in a narrow sideways range during the last session, but it still made an attempt for a growth, testing resistance level 1.3500/05. We currently observe the same attempt – having corrected to support 1.3380/85, the trading went back upwards and is now being carried on at level 1.3490/95. Nevertheless, MACD keeps forming divergence and indicators are rather reluctant to show an upward movement. Such state of events gives us reasons to doubt that growth is likely to continue at the moment, though fast bounce upwards to 1.3540/20 with the following pullback downwards is quite a possibility. Support 1.3200/1.3160 breakout will indicate a reversal to the “bearish” trend.
GBP/USD: Technical Analysis
Assumptions made in the previous comment came true. After sideways consolidation the price returned to growth and currently resides at 1.5860/70. Level 1.5840/45 breakout will indicate further growth to 1.5910/20. Nevertheless, indicators are still showing the weakening of the “bullish” mood, especially when paying attention to MACD divergence. Large-scale correction is obviously coming up, which doesn’t cancel a possibility that it starts from resistance level 1.5910/20. Support level 1.5700 breakout is seen as a signal to the mood change. If the price falls below 1.5740, it’ll indicate weak “bullish” potential.
Analysis by: Forex4you.com written by Joaquin Monfort
Forex4you analyst
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
Views: 12
Comment
© 2024 Created by James Dicks.
Powered by
You need to be a member of JDFN Financial Network to add comments!
Join JDFN Financial Network