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10-07-2008 - Crown Forex  |   Indexes Technical Analysis
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chf
The pair attempted to incline several times but has failed yet it will try again today. If this move fails to extend to the upside to pass the 1.0400 level and remain above it, which we expect, then the downside wave will be initiated supported by being overbought on some of the momentum indicators. The trading range is seen among 1.0205 support levels and 1.0375 resistance levels. The general trend is to the upside as far as 1.0010 remains intact with targets at 1.0725 and 1.0860 

Support1.02551.02301.02051.01601.0110
Resistance1.03051.03751.04001.04251.0470
Recommendation...
 

 

 Jpy
The pair is still in the upside channel on the short term where it is expected to end soon. The upside wave will end if the pair breaches the support level at 106.50 where we expect it will happen soon. However, today we could see slight upside movements and some failed attempts to build a base above the 107 level on the long term. The trading range is seen among 106.10 support levels and 107.30 resistance levels. The general trend is to the upside as far as 103.00 remains intact with targets at 109.90 and 113.24gbp 

Support106.60106.50106.40106.10105.70
Resistance107.50107.30107.80107.95108.25
Recommendation...

GBP
The rebound from the 50% correctional level is usually not that powerful, but the pair was able to reach that level at 1.9825 whereas the momentum indicators show contradiction on the different time periods yet technical indicators are still pointing to the upside. From here we expect the move to remain to the upside with high fluctuations until the pair exits the overbought area to attempt to test and build a solid base above the 1.98 level where the possibility for bullish movements for the pair is much likely to happen.

The trading range is seen among 1.9700 support levels and 1.9880 resistance levels.
The general trend is to the downside as far as 2.0460 remains intact with targets at 1.9267 and 1.9053

Support1.97851.97751.97201.96901.9620
Resistance1.98251.98501.98801.99301.9990
Recommendation...
 


euro
The pair was able to initiate a new upside channel two days ago within the upside trend that has started on June 13, 2008 supported by the ongoing rebound from the 38.2% correctional level for this trend. As we witnessed yesterday, the Euro was able to remain above the 1.5680 keeping the upside movement intact targeting the 1.5800 level at the very least keeping in mind that building a solid base above 1.5714 will provide the currency with more momentum than the 1.5680 level.

The trading range is seen among 1.5605 support levels and 1.5840 resistance levels.

The general trend is to the upside as far as 1.4900 remains intact with targets at 1.6178 and 1.6405

Support1.57101.56801.56421.56201.5550
Resistance1.57701.57801.58101.58401.5850
Recommendation...
Content Provided by:
Crown Forex
CROWN FOREX SA, located at St-Hubert 38, 2854 Bassecourt, P.o.box 247, Switzerland, is fully regulated as a financial intermediary under Swiss federal law on the prevention of money laundering (LBA, MLA). Our company is also affiliated with the ARIF association, thus overseen by the Swiss federal de...
 
DISCLAIMER:

The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness.  I am not liable for any losses or damages, monetary or otherwise that result.  I recommend that anyone trading currencies, gold, silver &energies should do so with caution and consult with a broker before doing so.  Prior performance may not be indicative of future performance. Currencies, gold, silver &energies  presented should be considered speculative with a high degree of volatility and risk
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