Weekly Report 02/01 – 06/01/ 2012
The pair continued trading below the resistance line of the descending channel and EMA 50, while the effect of the rising wedge continued doming the movements. Thus, the bearishness is still favored during this week, mainly targeting 116.95, followed by 116.25 so long as areas of 120.35 remain intact.
The trading range for this week is among the key support at 116.25 and the key resistance at 121.15.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 119.30 | 119.00 | 117.95 | 117.40 | 116.95 |
| Resistance | 120.00 | 120.35 | 121.15 | 121.75 | 122.25 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair below 119.30 targeting 117.95 and 116.95 and stop loss with four-hour closing above 120.35 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Weekly Report 02/01 – 06/01/ 2012
The negative pressure continued dominating the movements of the EUR/JPY pair; whilst the price is currently approaching the major support seen on the graph at 98.45 where a potential upside recovery may start towards the resistance of the main descending channel at 109.00. Therefore, we prefer staying aside until an actionable setup presents itself to pinpoint the next big move over short term basis.
The trading range for this week is among the key support at 97.40 and the key resistance at 101.80.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 99.40 | 98.50 | 97.80 | 97.40 | 97.00 |
| Resistance | 100.00 | 100.75 | 101.00 | 101.80 | 102.65 |
| Recommendation | Based on the charts and explanations above we recommend staying aside until an actionable setup presents itself to pinpoint the upcoming big move. | ||||
Euro vs. Great British Pound (EUR / GBP)
Weekly Report 02/01 – 06/01/ 2012
The royal pair is trapped within the shaded range seen on the graph between the support of 0.8270 and the resistance around 0.8400 areas. As a consequence, we need to witness a breakout above or below this range to confirm the next move as a break above 0.8400 will send the pair higher towards 0.8550 as a first target; whilst a breakout below 0.8270 will take us towards 0.8170 and 0.8100.
The trading range for this week is among the key support at 0.8170 and the key resistance at 0.8550.
The short term trend is to the upside as far as 0.8165 remains intact with targets at 1.0370.
| Support | 0.8270 | 0.8250 | 0.8200 | 0.8170 | 0.8100 |
| Resistance | 0.8400 | 0.8440 | 0.8480 | 0.8550 | 0.8605 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair with four-hour closing above 0.8400 targeting 0.8550 and 0.8635 ,stop loss with four-hour closing below 0.8400 or selling the pair with a four-hour closing below 0.8270 targeting 0.8170 and 0.8100, stop loss with a four-hour closing above 0.8400 may be appropriate. | ||||
To ensure you receive such e-mails in the future, please add ecPulse.com to your list of approved senders.
No comments:
Post a Comment