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The euro is trying to form a solid base
By: Crown Forex - 26-12-2007
0votesEURO
The European currency moved towards the upside on Monday with slight trading volume due to the holidays; the euro is trying to form a solid base to show some reversal signals for the next step where passing the major resistance level at 1.4420s might lead the euro in a major move towards the upside for the upcoming days.
The trading range for today might be between the key resistance level at 1.4540 and the key support level at 1.4300.
The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930.
Support 1.4365 1.4343 1.4318 1.4294 1.4270 Resistance 1.4380 1.4403 1.4425 1.4450 1.4475 Recommendation
We expect buying Euro above 1.4380 with a target at 1.4440 stop loss below 1.4340. GBP
The British pound Monday was trading with the tendency towards the downside which was obvious after the pound breached the major support area at 1.980s; however it reversed back by the end of the session. The last pattern could be a critical point where the pound might reverse to the upside once again.
The trading range for today might be between the key resistance levels at 1.9950 and the key support level at 1.9750.
The general trend is up as far as 1.9800 remains intact targets now at 2.0940 and 2.1050.
Support 1.9788 1.9761 1.9730 1.9716 1.9690 Resistance 1.9818 1.9830 1.9860 1.9890 1.9922 Recommendation
... JPY
The dollar against the Japanese yen progressed to upside targets at 114.20s major resistance, where thin trading halted the pair to continue until the next resistance at 114.50s. The pair then turned back to the downside to the key support area at 113.80s, so we expect a key drop today.
The trading range for today will be between the key resistance at 115.00 and the key support at 113. 00.
The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.
Support 114.37 114.04 113.82 113.56 113.34 Resistance 114.56 114.85 115.05 115.27 115.48 Recommendation
... CHF
The dollar against the SWISS Frank last time fluctuated in a very quiet pattern due to the low volume but it managed to end the trading with the tendency towards the downside as the technical indicators reflected for today.
The trading range for today will be between the key resistances at 1.1680 the key support at 1.1450.
The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.
Support 1.1535 1.1506 1.1487 1.1469 1.1445 Resistance 1.1585 1.1616 1.1636 1.1658 1.1680 Recommendation
We expect selling USD/CHF below 1.1600 with a target at 1.1530, stop loss above 1.1645. CAD
The dollar against the Canadian moved in a bearish pattern despite the slight trading volume, but today and since the pair toughed the key support at 0.9820s it might continue progressing towards the downside as long as the pair does not breach the major resistance at 0.9900.
The trading range for today will be between the key resistance at 1.0180 and the key support at 0.9930.
The general trend is down as far as 1.0450 remains intact, targets will be 0.9000at and 0.8880.
Support 0.9815 0.9789 0.9757 0.9732 0.9713 Resistance 0.9857 0.9883 0.9903 0.9930 0.9955 Recommendation
We expect selling USD/CAD below 0.9865 with a target at 0.9785, stop loss above 0.9900.
Next Analysis: The Euro is still inclining against all majorsContent 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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