Forex4you Technical Analysis 28/06/10
GBP/USD: Technical Analysis
The degree of 1.4870, which was formerly mentioned as a powerful support, provided the comeback to the upturn. The price has marked the new local maximum and is currently trying to breach the previously mentioned range of 1.5050/40/60. The indicators’ mood, which keeps the “bullish” preferences, affords grounds for the forecasts of breaching the checked-up resistance and the following running of the price up to new highs. These highs might be the powerful resistances at 1.5120/40. At the same time, the fact of the resistances’ cluster within this price range should be also taken into account; that’s why the bounce may occur just out of 1.5090 and 1.5100/10. The confident breach of these obstacles will determine the reasonable power of the upgrading trend together with the probability of checking-up of 1.5200\30 in the near time. The forecasts of the serious changes at the market may appear when the support at 1.4990/80 is breached.
EUR/USD: Technical Analysis
As forecasted, the support at 1.2240/50 was checked though not breached – that caused the price’s comeback to the upturn. This raise led the trades to the new local maximum at 1.2400/1.2395. However, the price returned down thereupon it had faced the powerful resistance there exactly and currently resides at 1.2350\40. The degree of 1.2340 became of essential on the way downward. It means, its breach may give the first signs about the beginning of the comeback to the descendant trend. The indicators’ values make hints on the downgrading reversal: R% intends to leave the oversold zone, SS keeps upturning still yet, and MACD demonstrates a very restrained upgrade and obviously prepares for the reversal. The environment is further ambiguous still yet. Most likely, the breach of the line of the upgrading trend (the red line) will report about the comeback to the “bearish” trend; though the early warning will be the breach of the support at 1.2340, of course. The “Bulls” keep the advantage of the development of their scenario till the breach of the range of 1.2340-1.2290.
USD/JPY: Technical Analysis
The previously given notices about the prolonged sideways retracement within the range edged between the resistance at 89.90/80 and support at 89.30 gradually come true. That’s why the forecasts about the development of these events keep in force. In other words, the breach of the support will mark the accomplishment of the next stage of sagging down to 88.20/30; on the contrary, the raise above 89.90/80 will speak about the risks of the upturn till 90.80 i.e., the trend line of the short-term downgrading channel (the red lines). The indicators’ sluggishness inclines to think that the sideways range hasn’t been accomplished yet and so, will be continued for a while.
The degree of 1.4870, which was formerly mentioned as a powerful support, provided the comeback to the upturn. The price has marked the new local maximum and is currently trying to breach the previously mentioned range of 1.5050/40/60. The indicators’ mood, which keeps the “bullish” preferences, affords grounds for the forecasts of breaching the checked-up resistance and the following running of the price up to new highs. These highs might be the powerful resistances at 1.5120/40. At the same time, the fact of the resistances’ cluster within this price range should be also taken into account; that’s why the bounce may occur just out of 1.5090 and 1.5100/10. The confident breach of these obstacles will determine the reasonable power of the upgrading trend together with the probability of checking-up of 1.5200\30 in the near time. The forecasts of the serious changes at the market may appear when the support at 1.4990/80 is breached.
EUR/USD: Technical Analysis
As forecasted, the support at 1.2240/50 was checked though not breached – that caused the price’s comeback to the upturn. This raise led the trades to the new local maximum at 1.2400/1.2395. However, the price returned down thereupon it had faced the powerful resistance there exactly and currently resides at 1.2350\40. The degree of 1.2340 became of essential on the way downward. It means, its breach may give the first signs about the beginning of the comeback to the descendant trend. The indicators’ values make hints on the downgrading reversal: R% intends to leave the oversold zone, SS keeps upturning still yet, and MACD demonstrates a very restrained upgrade and obviously prepares for the reversal. The environment is further ambiguous still yet. Most likely, the breach of the line of the upgrading trend (the red line) will report about the comeback to the “bearish” trend; though the early warning will be the breach of the support at 1.2340, of course. The “Bulls” keep the advantage of the development of their scenario till the breach of the range of 1.2340-1.2290.
USD/JPY: Technical Analysis
The previously given notices about the prolonged sideways retracement within the range edged between the resistance at 89.90/80 and support at 89.30 gradually come true. That’s why the forecasts about the development of these events keep in force. In other words, the breach of the support will mark the accomplishment of the next stage of sagging down to 88.20/30; on the contrary, the raise above 89.90/80 will speak about the risks of the upturn till 90.80 i.e., the trend line of the short-term downgrading channel (the red lines). The indicators’ sluggishness inclines to think that the sideways range hasn’t been accomplished yet and so, will be continued for a while.
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