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Messages - pranjali
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251
« on: March 16, 2010, 02:12:59 am »
We expect today for the sterling dollar pair to move further down to the support level at 1.49650 and if it breakthrough this level the pair will decline to the level of 1.48990, and we should take into consideration today’s economic data release. http://www.fxcbs.com/newsletter/images/GBPUSD.gif
260
« on: March 13, 2010, 08:34:20 pm »
EUR/JPY's rebound from 119.64 extended further to as high as 125.19 last week. As the cross is now very close to mentioned 125.22 cluster resistance (38.2% retracement of 134.36 to 119.64 at 125.26), we'd stay neutral initially this week. On the downside below 123.01 minor support will indicate that corrective rise from 119.64 is finished and will flip intraday bias back to the downside for retesting this low. On the upside, however, decisive break of 125.22/26 cluster resistance will indicate that stronger rebound is underway for 61.8% retracement of 134.36 to 119.64 at 128.73 next. In the bigger picture, with 125.22 cluster resistance still intact, we're holding on the bearish view.That is, medium term rebound from 112.10, which is treated as a correction to long term down trend from 2008 high of 169.96, should have completed at 139.21 already, after multiple failure to sustain above 55 weeks EMA. Recent decline is expected to resume sooner or later to a new low below 112.10. However, note that decisive break of 125.22 cluster resistance will argue that recent fall might have completed already. Further break of 126.88 support turned resistance will argue that medium term rise from 112.10 might be still in progress for another high above 139.21 before completion. In the long term picture, up trend from 88.96 (00 low) has completed at 169.96 and made a long term top there. Fall from 169.96 should develop into a three wave correction with first wave completed at 112.10, second wave completed at 139.21. Current fall is likely the third wave and should extend beyond to 61.8% projection of 169.96 to 112.21 from 139.21 at 103.45 or further to 100 psychological support next. http://www.actionforex.com/images/stories/contributors/actionforex/eurjpy20100313w1.gifhttp://www.actionforex.com/images/stories/contributors/actionforex/eurjpy20100313w2.gifhttp://www.actionforex.com/images/stories/contributors/actionforex/eurjpy20100313w3.gifhttp://www.actionforex.com/images/stories/contributors/actionforex/eurjpy20100313w4.gifhttp://www.actionforex.com/action-insight/eurjpy-outlook/eur%10jpy-weekly-outlook-20100313108762/
261
« on: March 13, 2010, 08:30:54 pm »
EUR/USD's consolidation from 1.3443 continued last week and rose further to as high as 1.3795. Initial bias remains on the upside this week and stronger rise could be seen. But after rally, we're expecting strong resistance at 1.3852 (38.2% retracement of 1.4578 to 1.3443 at 1.3861) and bring fall resumption . Below 1.3622 minor support will flip intraday bias back to the downside for retesting 1.3435 low first. In the bigger picture, outlook remains unchanged. The three wave rise from 1.2329 is treated as consolidation to fall from 1.6039 only and should have completed at 1.5143 already. Fall from 1.5143 is tentatively treated as resumption of the whole down trend form 1.6039 and should target a new low below 1.2329. Break of 1.4217 support turned resistance is needed to invalidate this bearish view. Otherwise, we'd expect fall 1.5143 to continue even in case of strong rebound. In the long term picture, long term up trend from 2000 low of 0.8223 has made an important top at 1.6039 in 2008. Subsequent price actions are so far viewed as a correction only, in form of three waves. First wave has completed at 1.2329 while secondly should have completed at 1.5143. Fall from 1.5143, as the third wave of correction, is in progress and should extend to 1.1639 support, and possibly further to 100% projection of 1.6039 to 1.2329 from 1.5143. Nevertheless, we'd expect strong support from 61.8% retracement of 0.8223 to 1.6039 at 1.1209 to conclude the correction and bring another long term up trend. http://www.actionforex.com/images/stories/contributors/actionforex/eurusd20100313w1.gifhttp://www.actionforex.com/images/stories/contributors/actionforex/eurusd20100313w2.gifhttp://www.actionforex.com/images/stories/contributors/actionforex/eurusd20100313w3.gifhttp://www.actionforex.com/images/stories/contributors/actionforex/eurusd20100313w4.gifhttp://www.actionforex.com/action-insight/eurusd-outlook/eur%10usd-weekly-outlook-20100313108770/
264
« on: March 12, 2010, 07:44:44 am »
The dollar against the yen Continue volatility near the level of 90,650 , today we expect a continuation of the volatility around this level and in the event of breakthrough the pair will rise to 91.450.
http://www.fxcbs.com/newsletter/images/USDJPY.gif
265
« on: March 12, 2010, 07:44:00 am »
We expect today for the pair sterling against the U.S. dollar back down to test the resistance level again at 1.49900, in case the pair can penetrate this level it will decline to the 1.49400 and then 1.48300. http://www.fxcbs.com/newsletter/images/GBPUSD.gif
266
« on: March 12, 2010, 07:42:51 am »
Stochastic indicator for the pair Euro against the U.S. dollar appears saturated in the procurement process as shown by the hour and four hours chart, the pair failed to break the resistance level at 1.37050, we expect today decline for the pair to the target level of 1.35800, and this requires penetration of the near support level 1.36620. http://www.fxcbs.com/newsletter/images/EURUSD.gif
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