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Technical Analysis for USDJPY 4 Mar 2010 |
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Written by Administrator
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Friday, 05 March 2010 |
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The USDJPY continued its bearish momentum yesterday, bottomed at
88.31 and closed at 88.45. This fact should trigger further bearish
scenario targeting 87.35 area. Immediate resistance at 89.00 area.
Break above that area could be seen as potential false breakdown
scenario which could trigger significant bullish momentum testing 89.50
even 90.50 area.
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Technical Analysis for USDCHF 4 Mar 2010 |
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Written by Administrator
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Friday, 05 March 2010 |
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The USDCHF had a significant bearish momentum yesterday, bottomed at
1.0647 and closed at 1.0677. The triple top formation around 1.0888
area able to trigger significant bearish correction so far even
possible bearish reversal scenario testing the lower line of the major
bullish channel. The bias is bearish in nearest term targeting 1.0507
area but we need a consistent move below 1.0640 to continue the bearish
scenario. Immediate resistance at 1.0750 – 1.0800 area.
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Technical Analysis for EURUSD 3 Mar 2010 |
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Written by Administrator
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Wednesday, 03 March 2010 |
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The EURUSD attempted to push lower yesterday, bottomed at 1.3435 but
whipsawed to the upside and closed higher at 1.3613. The bias is
bullish in nearest term but as you can see on h4 chart below, actually
price is still moving in a range area of 1.3450 – 1.3690 indicating
consolidation but still within a major bearish scenario.
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Technical Analysis for GBPUSD 3 Mar 2010 |
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Written by Administrator
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Wednesday, 03 March 2010 |
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The GBPUSD failed to continue the bearish momentum by move back
above 1.5000 psychological level. This fact should trigger further
upside correction targeting 1.5200/50 area in nearest term but note
that the major bearish scenario should remain intact as long as price
still move inside the bearish channel. Another movement below 1.5000
area could cancel the upside correction scenario re-testing 1.4779 area.
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