Monday, May 21, 2012

Week 20--Fx Analysis + Charts--


Aud.Usd, Nzd.Usd. Usd.Cad, Aud.Jpy, Nzd.Jpy, Cad.Jpy, Eur.Jpy Chf.Jpy  and Eur.Usd hit their fib targets on the daily.  Therefore I anticipate these pairs to start their retracement on the daily soon, some pairs such as Aud.Jpy and Nzd.Jpy went in over drive on the sell off and these pairs are definitely due for a retracement soon. The only pairs that haven’t hit my fib targets are Gbp.Jpy, Usd.Chf and Gbp.Usd. For Gbp.Jpy and Usd.Chf, I anticipate these pairs to follow their peers above and also pull back before continueing towards their fib targets. 

Gbp.Usd

This pair broke through major support levels and experienced a heavy 3 day sell off. The cable is ready to retrace towards support levels with R1 and R2 around 1.5892 and 1.5988. It does have the potential to come up to meet its left tip around 1.6066 before it u-turns towards the south. Keep in mind the cable has important announcements this week that can push this pair either way. 










Thursday, May 17, 2012

Eur.Aud & Aud.Chf-- Breaking out.


Eur.Aud—the bulls tried to take out the 1.2867 level about 6 times now with no luck thus far. This Pair is currently trying to break through strong support levels and if the bears remain in charge they’ll be after 1.2711 and 1.2650.  Aud.Chf is trying to break through strong resistance levels, roughly around 0.9400. If the bulls succeed they’ll be after 0.9425 and 0.9435.



Forex pair to Observe--Usd.Chf--


Usd.Chf is currently retracing towards support levels with S1, S2 at 0.9375 and 0.9300.  If those levels of support hold, look for a u-turn towards the north. The bulls are currently after 0.9544 and 0.9577. 

Wednesday, May 16, 2012

Forex Pairs to observe--The cable is testing crucial support levels--


Gbp.Usd

The cable is slowly breaking through support levels as the USD continues to gain strength across the board. So far the bulls failed to rally this pair above the counter-trend line and consequently this questions the bullish momentum. The bears are currently trying to push this pair below 1.5892 area, with T1 being 1.5820 and T2 being the lower bound of the channel around1.5646. Keep in mind this pair has important announcements coming up that can push this pair either way.


Friday, May 11, 2012

Forex pairs to Observe+ Charts


Eur.Usd & USd.Chf
 
Eur.Usd is breaking through strong support levels and if the bears remain in control we might experience a nice move south towards 1.2705 and 1.2624. Do proceed with caution if the bulls manage to bring this pair back above 1.3020—dont hesitate to switch from a bear to a bull. Usd.Chf shows the opposite image with the bulls breaking through strong resistance levels. If the bulls manage to keep it above resistance they’ll be after 0.9572. If the bulls fail to keep it above resistance, expect a u-turn towards 0.9102.