forex analysis

Discussion in 'Technical Analysis' started by finexo, Nov 6, 2006.

  1. finexo

    finexo

    Hello Traders

    USD LOOKS STRONG AGAIN…

    NFP data : The October unemployment rate dipped to its lowest level in over 5-years at 4.4%, with another bout of strong upward revisions to previous months' non-farm payrolls.



    EUR-USD

    50 dma – 1,2692
    100 dma – 1,2706

    Strong support – 1,2677

    Resistance – 1,2730 then 1,2775-80

    Range trading possible, watch daily close…., needs below 1,2675 for strong move down or above 1,2780-1,2800 for strong move up…

    GBP-USD

    20 dma – 1,8795
    50 dma – 1,8838
    100 dma – 1,8719

    1,9100-45 was tested few times last week, but strong NFP number pushed pair lower below 1,9030 support ( now resistance ), structure is bearish at this moment, 1,8930-35 target possible…

    Holding short position…

    USD-JPY

    20 dma – 118,55
    50 dma – 117,77


    Strong recovery during Friday’s us session, found resistance 118,15-40, needs to close above this level for move towards 118.80-119,00,

    support 117,70-80…

    Look to buy on dips if seen…

    USD-CHF

    Strong move above 1,2500 level suggest that 1,2580-1,2620 could be test soon, watch support at 1,2470-80…

    Holding long position…


    Good Luck
    Piotr