Currency Technical Report

Daily Forex Technicals | Written by FX Greece | Sep 25 08 09:17 GMT |

EUR/USD Resistance : 1,4710-20/ 1,4760-70/ 1,4820/ 1,4860/ 1,4900/ 1,4950 Support : 1,4640/ 1,4615/ 1,4580/ 1,4550/ 1,4520/ 1,4500/ 1,4470 Comment: The sideways consolidation continues, after the sharp rise towards 1,4860 area, which was slightly higher from the important support levels we had set at 1,4580-00 area. There is nothing new to add to our previous two analysis. The reaction from 1,3900 in the daily chart does not seem completed, and the areas of 1,4940-60 and 1,5030-50 are the next targets in case of an upward break of the consolidation, while the area of 1,4500 will be the target, if the upward reaction proves to be completed. TRADING EUR/USD SWING TRADING : We prefer the scenario, in which the reaction is not completed, and a pullback to previous tops is possible. As a result, we remain to our yesterday scenario : We keep a small part of our positions open, while buy orders could be tried again at 1,4510-50, setting our stops below 1,4450. Above 1,4900 we will close all buy positions and try again sell positions from 1,4950 to 1,5050 area, with stops above 1,5150... INTRADAY TRADING : We will try buy positions in the pullbacks towards 1,4650-70 (stops below 1,4630), adding positions in case of an upward break of 1,4750. Target will be the area of 1,4810-20 and 1,4860. GBP/USD Resistance : 1,8570-80/ 1,8620/ 1,8660-70/ 1,8700/ 1,8740/ 1,8770/ 1,8800 Support : 1,8480-00/ 1,8435/ 1,8385-90/ 1,8350/ 1,8320. Comment : Similar outlook for the pound. There is nothing new to add to our previous analysis. Possible target is still the area of 1,8770-00. TRADING GBP/USD : We keep our previous scenario : 'We will try small buy positions within the sideways consolidation, expecting an upward break. We will set our stops below 1,8450. In case of a clear upward break of 1,8640, we will follow with new buy positions and targets at 1,8720-30 and 1,8770. A possible upward move until 1,8770-00 will be used for sell orders... A downward break of 1,8450 will be used for sell positions, with targets at 1,8370-80 area. USDJPY USDCHF 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.