Technical Analysis for Crosses

Daily Forex Technicals | Written by Crown Forex | Nov 06 08 08:41 GMT |

EUR/JPY The Euro also fell against the Japanese Yen as the pair breached the 100 and 20 moving averages (4 hours) at 128.03 and 127.26 respectively, the pair now might reach the 124.73 support level which should be able to provide the pair with some upside momentum to retest the 127.26 resistance level at least, the momentum indicators continue to provide mixed signals which means the pair could still fluctuate heavily. Support: 125.47, 125.25, 124.73, 124.28, 123.91 Resistance: 125.99, 126.44, 126.81, 127.26, 127.78 Recommendation: Buy above 124.73 with a target at 127.26 and a stop loss below 123.91 GBP/JPY The British Pound continued to fall against the Japanese Yen as the pair failed to settle above the 23.6% correctional level at 156.91 level, which provided the pair with downside momentum that took it to the next support level at 154.39, this support level is able to send the pair back to the 156.91 level, however breaching this level would mean that the pair will probably drop back to the 150 levels. Support: 154.39, 153.61, 153.24, 152.73, 152.28 Resistance: 155.12, 155.71, 156.31, 156.91, 157.51 Recommendation: Buy above 154.39 with a target at 156.91 and a stop loss below 153.50 EUR/GBP The Euro fell today against the Pound as the pair failed to breach the resistance level at 0.8159 which provided the pair with strong downside momentum that took it back below the 20 hours moving average at 0.8114, and as long as the pair remains trading below this level it will be targeting the 0.8080 level at least, the momentum and direction indicators support the downside wave as indicated by many indicators on intraday basis Support: 0.8094, 0.8080, 0.8066, 0.8053, 0.8039 Resistance: 0.8114, 0.8133, 0.8148, 0.8159, 0.8176 Recommendation: Sell below 0.8114 with a target at 0.8080 and a stop loss above 0.8159 Crown Forex 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.