Daily Technical Strategy On Currencies by FXTechstrategy - Page 61
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  1. #601
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    Mar 2011
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    Default USDJPY: Weakens, Eyes The 112.00 Zone

    USDJPY: The pair weakened on Thursday leaving risk of more decline to occur in the days ahead. On the downside, support comes in at the 112.50 level where a break if seen will aim at the 112.00 level. A cut through here will turn focus to the 111.50 level and possibly lower towards the 111.00 level. On the upside, resistance resides at the 113.00 level. Further out, we envisage a possible move towards the 113.50 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. On the whole, USDJPY looks to extend its downside pressure.


  2. #602
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    Default EURUSD: Vulnerable To Downside Though With Caution

    EURUSD: With the pair closing strongly lower on Friday, further weakness is envisaged. On the upside, resistance comes in at 1.0650 level with a cut through here opening the door for more upside towards the 1.0700 level. Further up, resistance lies at the 1.0750 level where a break will expose the 1.0800 level. Conversely, support lies at the 1.0550 level where a violation will aim at the 1.0500 level. A break of here will aim at the 1.0450 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure.


  3. #603
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    Mar 2011
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    Default GOLD: Risk Remains Lower On Pullback Threats

    GOLD: The commodity continues to retain its upside pressure but with caution. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Conversely, resistance resides at the 1,240.00 level where a break will aim at the 1,250.00 level. A turn above there will expose the 1,260.00 level. Further out, resistance stands at the 1,270.00 level. All in all, GOLD looks to strengthen further.


  4. #604
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    Mar 2011
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    Default USDJPY: Recovers, Looks To Strengthen Further

    USDJPY: The pair triggered a recovery higher on Monday and followed through on Tuesday leaving risk further higher. On the downside, support comes in at the 113.00 level where a break if seen will aim at the 112.50 level. A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. On the upside, resistance resides at the 114.00 level. Further out, we envisage a possible move towards the 114.50 level. Further out, resistance resides at the 115.00 level with a turn above here aiming at the 115.50 level. On the whole, USDJPY looks to extend its upside pressure.


  5. #605
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    Mar 2011
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    EURUSD: With the pair continuing to weaken further on Wednesday, more decline is likely in the days ahead. On the upside, resistance comes in at 1.0550 level with a cut through here opening the door for more upside towards the 1.0600 level. Further up, resistance lies at the 1.0650 level where a break will expose the 1.0600 level. Conversely, support lies at the 1.0450 level where a violation will aim at the 1.0400 level. A break of here will aim at the 1.0350 level. Its daily RSI is bearish and pointing lower suggesting further weakness. All in all, EURUSD faces further downside pressure on declines


  6. #606
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    Mar 2011
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    1,560

    Default AUDUSD: Risk Points Higher On Trend Resumption

    AUDUSD. The pair continues to retain its upside pressure as it looks to resume its medium term uptrend. On the downside, support resides at the 0.7650 level where a breach will aim at the 0.7600 level. Below that level will set the stage for a run at the 0.7550 level with a cut through here targeting further downside pressure towards the 0.7500 level. On the upside, resistance lies at the 0.7750 level. A cut through here will turn attention to the 0.7800 level and then the 0.7850 level where a violation will set the stage for a retarget of the 0.7900 level. On the whole, AUDUSD remains biased to the upside on further strength


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