Technical Market View

Daily Forex Technicals | Written by FX Greece | Jul 24 08 13:42 GMT |

AUD/USD The retracement below 0,9650-70 cancels for now our high-er targets from the break and a pullback towards 0,9500 is possible. A downward break at 0,9500 would indicate the upward trend reversal... If the area of 0,9650-00 is turned into a resistance, the re-versal will be confirmed ... EUR/CHF The tops at 1,5250 were breached and the move continued until 1,6300 area. Next resis-tance is found at 1,6370-80, but a corrective move formation is considered very possible... EUR/GBP The triangle formation was broken down-wards as we can see in the chart, and the base of 0,7830 was tested. The break will be confirmed, if the area of 0,7930 is turned into a resistance. A move above those levels indicates that the ranges of the sideways formation are between 0,7830-50 and 0,8030-50... EUR/JPY The candles at the tops of 169,50-170,00 give a negative outlook. The formation of a downward move and a retracement to 166,50-167,00, would be the most possible scenario ... GBP/JPY The break of the important resistance at 214,00-50 was not followed by breaks in the other yen pairs. A daily close with a formation of a reversal candle, would indicate a false break, and a retracement to 210,00 would be possible... USD/CAD Volatility within the wider triangle formation continues. The area of 1,0270-00 may be reached again... Gold Important support levels are being reached. The area of 910,00-915,00 should not be breached easily. We will wait for a reaction to 940-45 area... Silver Similar picture for silver. First support is found at 16,90-17,10, followed by 16,30-50... A reaction is expected at those levels... Crude Oil The ranges for the recent decline are reached. A reaction towards 128,50-00 or even 132,00-133,00 seems possible... DOW JONES Dow has reached important resis-tance levels. A corrective move until 11380-00 area is possible... FX Greece DISCLAIMER The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market. We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action. We reserve the right to change the terms and the characteristics of the analysis. The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.