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Friday, 19 March 2010
Technical Analysis for GBPUSD Daily Forecast: February 25
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Thursday, 25 February 2010

GBPUSD Forecast:
The GBPUSD was indecisive yesterday. The nearest bias is neutral but the main scenario remains bearish as price still move convincingly inside the bearish channel at least testing 1.5347 before targeting 1.5250 area. Immediate resistance at 1.5450/70 area. Break above that area could trigger further bullish correction testing the upper line of the bearish channel. I still prefer a bearish scenario with sell on rallies strategy at this phase.

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Technical Analysis for EURUSD Daily Forecast: February 25
Written by Administrator   
Thursday, 25 February 2010

EURUSD Forecast:
The EURUSD attempted to push higher yesterday, topped at 1.3625 as a temporary reaction after The Fed decided to keep the interest rate low but further bullish momentum was rejected as price closed lower at 1.3539. This fact should keep the bearish scenario intact. On h4 chart below we can see price is now testing the minor trendline support (yellow).

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Technical Analysis for EURUSD 17 Feb 2010
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Wednesday, 17 February 2010

EURUSD Forecast:
The EURUSD had a significant bullish correction movement yesterday, topped at 1.3778 and closed at 1.3765. On h4 chart below we can see that my falling wedge formation has been violated to the upside confirming further bullish correction targeting 1.3850 before testing 1.4030 area. However, note that the major bearish scenario should remains intact as long as price is moving inside the bearish channel and the current bullish momentum should be seen just as corrective movement. Immediate support at 1.3675. Break below that area could be a potential threat to the bullish correction scenario  testing 1.3585 area.

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Technical Analysis for EURUSD 17 Feb 2010
Written by Administrator   
Wednesday, 17 February 2010

EURUSD Forecast:
The EURUSD had a significant bullish correction movement yesterday, topped at 1.3778 and closed at 1.3765. On h4 chart below we can see that my falling wedge formation has been violated to the upside confirming further bullish correction targeting 1.3850 before testing 1.4030 area. However, note that the major bearish scenario should remains intact as long as price is moving inside the bearish channel and the current bullish momentum should be seen just as corrective movement. Immediate support at 1.3675. Break below that area could be a potential threat to the bullish correction scenario  testing 1.3585 area.

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