Forex Technical Analysis

Technical analysis uses past data to try to forecast the future of a currency or pair. It is visually represented in the form of graphs, charts or tables. Some examples of technical analysis are the Elliott Wave and Fibonacci.

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Forex and Dow Jones recommended levels

By:   Nikolajs Serikovs
  • 03-09-2008
0
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September 03, 2008

GMT  02:36


EUR/USD

Today’s support: - 1.4446 and 1.4418 (main), where correction is possible. Break would give  1.4402, where correction also may be. Then follows 1.4380. Break of the latter would result in 1.4366. If a strong impulse, we would see 1.4344. Continuation will give 1.4313 and 1.4278.
Today’s resistance:  - 1.4558 и 1.4583(main). Break would give 1.4606, where a correction is possible. Then goes 1.4628. Break of the latter would result in 1.4650. If a strong impulse, we’d see 1.4681. Continuation will give 1.4714.

USD/JPY

Today’s support: - 108.34, 108.00, 107.71 and 107.55(main). Break would bring 107.37, where correction is possible. Then 107.12. If a strong impulse, we would see 106.81. Continuation would give 106.54 and 106.20.
Today’s resistance: - 109.13 and 109.38(main), where a correction may happen. Break would bring 109.56, where also a correction may be. Then 109.80. If a strong impulse, we would see 110.03 Continuation will give 110.34.

DOW JONES INDEX

Today’s support: - 11 452.36, 11 430.10, 11 363.00 and 11 336.47(main),
where a delay and correction may happen. Break of the latter will give 11 317.47, where correction also can be. Then follows 11 283.74. Be there a strong impulse, we would see 11 261.20. Continuation will bring  11 238.40.
Today’s resistance: - 11 545.20(main), where a delay and correction may happen. Break would bring 11 576.26, where a correction may happen. Then follows 11 600.00, where a delay and correction could also be. Be there a strong impulse, we’d see 11 618.44. Continuation would bring 11 643.72.

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