Forex Research

Daily Technical Analysis
Posted: 2/9/2010 4:07:23 AM



Currency Pair Long Term Momentum Medium Term Momentum Short Term Momentum Support Resistance Comments
EUR/USD 1.3720
1.3680
1.3650		 1.3745
1.3780
1.3810		 0809GMT testing top of recent range at 1.3720 , above 100 hr sma at 1.3745/50 would strengthen upside bias towards 1.3780 next.
GBP/USD 1.5610
1.5570
1.5540		 1.5660
1.5720
1.5800		 0812GMT multiple hourly lows at 1.5540/50 may signal a base is forming, above 1.5660/70 may see correction higher to 1.5720/30 initially
USD/JPY 89.40
89.05
88.80		 89.90
90.15
90.50		 0816GMT sideways range consolidation, holding above cloud base at 89.03, above Tenkan line at 89.92 may see towards cloud top at 90.93.
USD/CHF 1.0680
1.0640
1.0600		 1.0715
1.0750
1.0780		 0823GMT spinning top on daily candle and extended daily MACD suggests a top may be forming, below 1.0680 may see towards 1.0640/50 next
AUD/USD 0.8710
0.8675
0.8630		 0.8745
0.8785
0.8820		 0827GMT upside bias in place while above 21/55 hr smas at 0.8670, above range top at 0.8720 may see leg higher, minor resistance at 0.8745.
USD/CAD 1.0650
1.0620
1.0570		 1.0715
1.0750
1.0780		 0832GMT below 21/55 hr smas at 1.0715 suggests corrective bias lower towards 1.0660/50 initially, below may see 1.0620 next.
EUR/JPY 122.25
121.60
121.00		 123.30
124.50
125.00		 0837GMT consolidation range, bias higher while above 21/55 hr sma at 122.20, above 123.30 range high may see leg higher.
NZD/USD 0.6860
0.6819
0.6750		 0.6910
0.6940
0.6970		 0842GMT range-bound but upside bias while above 0.6860 21 hr sma towards 0.6910 initially, above may see towards 0.6940 next.
EUR/GBP 0.8765
0.8720
0.8680		 0.8790
0.8810
0.8850		 0845GMT hourly upchannel still in place towards 0.8790, above may see to 0.8810 next, support nr 0.8765 below may see back towards 0.8720.
AUD/JPY 77.50
77.00
76.50		 76.20
78.70
79.00		 0851GMT focus higher while above 21/55 hr sma at 77.50, above range top at 76.20 may see leg higher towards 78.70 then Tenkan line at 79.00.
GBP/JPY 139.40
139.00
138.50		 140.20
140.90
141.50		 0858GMT sideways consolidation while between 138.50/140.20 with 21 hr sma at 139.40 acting as pivot and immediate support.
CAD/JPY 83.40
82.80
82.50		 84.00
84.25
84.50		 0904GMT Double doji on hourly suggests potential for sharp resolution, below 21/55 hr smas at 83.40 may see down towards 82.80 next.

- Optimal phase to initiate position with arrow - Cycle mature, protect profits
- Cycle extreme, t/p, plan for new cycle - Hold Cycle in direction of arrow

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- indicate that momentum is positive and moving higher, usually signs of higher prices ahead
- indicate negative and falling momentum, typically implying lower prices in the future
Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.