| EUR/USD | |||||||||||||
February 1, 2010 Current level-1.3890 EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. A minor consolidation unfolds above 1.3851 low and we expect it to be limited below 1.3920, before next, probably the final leg of the downtrend since 1.4190. Current target remains 1.3740 support area and crucial on the upside is 1.3990. | |||||||||||||
| resistance | support | ||||||||||||
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| USD/JPY | |||||||||||||
February 1, 2010 Current level - 90.39 The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 89.50 and 93.54. As expected, the pair reversed its direction at 90.90 resistance and now is ready for a break below 89.57, which will confirm, that the focus is set on 88.30. | |||||||||||||
| resistance | support | ||||||||||||
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| GBP/USD | |||||||||||||
February 1, 2010 Current level- 1.5952 The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258. The downtrend from 1.6277 is intact and is targeting 1.5880 dynamic support on the daily frame. Crucial on the upside is 1.5980. | |||||||||||||
| resistance | support | ||||||||||||
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EUR/GBP
| EUR/GBP | |||||||||||||
February 1st, 2010 Current level-0,8722 Longer term bias remains bearish for the pair, the descending triangle breached led the euro decline towards 0,8600 figure. Intraday: Pushing above trendline resistance level at 0,8660 has confirmed an ABCD bullish pattern. The first resistance lays at 08760 (38,2 Fib). For today expect further gains for the pair. | |||||||||||||
| resistance | support | ||||||||||||
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| USD/CAD | |||||||||||||
February 1st, 2010 Current level - 1,0690 The pair is trapped in a triangular formation since August 2009, long term direction is about to be exposed if the USD manages to push above the 1,0650 - 1,0700 resistance. Intraday: the setback expected was well bid above 1,0550 zone and price action reached 1,0690 intraday resistance. Congestion around 1,0700 and the bearish RSI divergence could announce a pullback to 1,0650 zone. On the other hand watch out for a break above 1,0750 resistance. | |||||||||||||
| resistance | support | ||||||||||||
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| GBP/JPY | |||||||||||||
February 1st, 2010 Current level- 143,95 The pair is trading in a wide range in between 150,00 and 140,00. The brake of the uprising pennant the daily timeframe offered has led to a breakdown below 148,00 trendline and leaving space for a further setback towards 140,00 psychological support. Intraday: cable is holding just above the 61,8 Fib, still looking very weak against the USD and YEN. If the bearish pressure maintains, the pair could target 143,00 zone. | |||||||||||||
| resistance | support | ||||||||||||
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