Forex4you Technical Analysis 01 April 2011
EUR/USD: Technical Analysis
The EUR/USD pair has pulled back to 1.4150 but it will probably resume its rally to the current upside target of 1.4280. This corresponds with the major highs achieved in November ’10. A break lower, however could bring into play the downside target of 1.4080 on the 3 x 0.0005 chart, but the overall thrust is still bullish.
AUD/USD: Technical Analysis
AUD/USD has rallied strongly but now there are signs of weakness. It has touched the upper channel line from the Jan lows and there has been a bearish demark sell signal on the daily chart. It is possible there may be a correction now back to support at around 1.0250 before the rally resumes. The 3 x 0.001 P&F chart gives a possible eventual upside target of 1.0510, whilst the 3 x 0.0005 is giving a downside count of 1.0210, which supports short term weakness.
Analysis 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 EUR/USD pair has pulled back to 1.4150 but it will probably resume its rally to the current upside target of 1.4280. This corresponds with the major highs achieved in November ’10. A break lower, however could bring into play the downside target of 1.4080 on the 3 x 0.0005 chart, but the overall thrust is still bullish.
AUD/USD: Technical Analysis
AUD/USD has rallied strongly but now there are signs of weakness. It has touched the upper channel line from the Jan lows and there has been a bearish demark sell signal on the daily chart. It is possible there may be a correction now back to support at around 1.0250 before the rally resumes. The 3 x 0.001 P&F chart gives a possible eventual upside target of 1.0510, whilst the 3 x 0.0005 is giving a downside count of 1.0210, which supports short term weakness.
Analysis 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.
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