The European currency fell down yesterday in a major move

By Jan 17, 2008 07:00PM ET

www.investing.com/analysis/usd-jpy:-%CE%94%CE%B9%CE%AC%CF%83%CF%80%CE%B1%CF%83%CE%B7-%CF%84%CF%89%CE%BD-110-%E2%80%93-%CE%A4%CE%B9-%CE%B5%CE%AF%CF%87%CE%B5-%CF%80%CF%81%CE%BF%CE%B2%CE%BB%CE%AD%CF%88%CE%B5%CE%B9-%CE%B7-boaml-%E2%80%93-%CE%A4%CE%B9-%CE%AD%CF%80%CE%B5%CF%84%CE%B1%CE%B9;-3692

The European currency fell down yesterday in a major move

By | Jan 17, 2008 07:00PM ET

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EURO

The European currency fell down yesterday in a major move with high levels of volume to reflect the strength of the move but within the same consolidation area that the Euro formed before a couple of days; nevertheless the Euro is expected to reverse back to the upside as the technical indicators show some upside potential.

The trading range for today might be between the key resistance level at 1.4750 and the key support level at 1.4550.

The general trend is up as far as 1. 4060 remains intact targets now at 1.5000 and 1.5360.

Support	1.4632	1.4609	1.4578	1.4545	1.4527
Resistance	1.4654	1.4670	1.4692	1.4710	1.4734
Recommendation	We expect buying Euro above 1.4615 with a target at 1.4720 stop loss below 1.4570

GBP

The British pound yesterday fluctuated in a bullish manner within the correction area due to some restrictions ending with a slight bearish form. On the other hand the pound by that has formed some bullish signals to clarify the upside direction for today.

The trading range for today might be between the key resistance level at 1.9850 and the key support level at 1.9550.

The general trend is up as far as 1.9450 remains intact targets now at 2.1170 and 2.1420.

Support	1.9710	1.9698	1.9674	1.9657	1.9623
Resistance	1.9761	1.9788	1.9822	1.9843	1.9870
Recommendation	We expect buying sterling above 1.9690 with a target at 1.9800 stop loss below 1.9650

JPY

The dollar against the Japanese yen rallied in the downside channel in the morning session yesterday as it couldn't get over the major resistance level at 112.40s. Yet the pair extended the downside wave after it confirmed some bearish signals.

The trading range for today will be between the key resistance at 108.50 and the key support at 105.50.

The general trend is down as far as 121.30 remains intact, targets at 103.40 and 101.00.

Support	109.40	106.20	105.90	105.65	105.30
Resistance	106.80	107.07	107.30	107.57	107.78
Recommendation	...

CHF

The dollar against the SWISS Frank was moving in a very wide range reflecting high volume, nevertheless the pair holds some tendency to the downside for today as the technical directional parameters at the end of the session indicated, besides the downside trend line that shows the weakness of the upside wave.

The trading range for today will be between the key resistances at 1.1150 the key support at 1.0850.

The general trend is down as far as 1.2020 remains intact, targets at 1.1000 and 1.0940.

Support	1.1001	1.0987	1.0965	1.0940	1.0917
Resistance	1.1030	1.1067	1.1088	1.1119	1.1137
Recommendation	We expect selling USD/CHF below 1.1025 with a target at 1.0930, stop loss above 1.1070

CAD

The dollar against the Canadian kept moving in the upside direction yesterday with high levels of volume that played a significant role to let the pair incline, today the pair is facing a difficult resistance level at 1.0330s, breaching the mentioned level might lead the pair up until the next resistance level at 1.0270s.

The trading range for today will be between the key resistance at 1.0400 and the key support at 1.0180.

The general trend is down as far as 1.0745 remains intact, targets will be 0.9030 and 0.8965.

Support	1.0220	1.0200	1.0187	1.0156	1.0124
Resistance	1.0250	1.0275	1.0307	1.0318	1.0346
Recommendation	...

Daily Technical Strategy By Lloyds TSB Corporate Markets - Jan 05, 2009

EUR/USD:Broader themes may have to take a back seat for a couple of weeks, but the bias remains broadly dollar negative. Re-try a small buy against 1.3430 support, stop 1.3380,...

Technical oscillators supporting the~bullish trend for the USD/CHF... By Finotec - Jan 05, 2009

USD/CHF – Market strategy is bullish, buying from the 1.1180~levelUSD/CHF-market strategy can be a buy from the level 1.1180Technical oscillators supporting the bullish trend...

January 06 analysis By Investija - Jan 05, 2009

In this PDF you will find the latest technical analysis published by Forex Trends

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The European currency fell down yesterday in a major move

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