Monday, May 18, 2009

Daily Technical Analysis 18.05.2009

EUR/USD




U.S. dollar maintained its appreciation against the single currency during the Asian session against the backdrop of speculation that the European Central Bank will take steps to lower the interest rate established in the euro under 1.0 percent in an attempt to boost the European economy. New movement in favor of the green will test targets in the area around the level of support at 1.3338 which for now seems stable enough to reduce a significant growth griynbeka. In support of this expectation is keeping the price under 14 period MA and lower values of the stochastic oscillator and the MACD. In the opposite option, enhancing the confidence of traders in a single currency will direct cost to test resistance at 1.3522.


USD/JPY




The currency pair is traded in U.S. dollar for the downward trend, if a new appreciation and move the price below support at 94.50, the path to the next key level around 93.66 will be opened. In support of the expectation for further appreciation of the yen is keeping the price has less than 7 and 14 period MA. Looking at the MACD indicator, however, filed for the formation of divergence that would have supported the green money and move towards resistance at 95.27 and 97.86.


GBP/USD



U.S. dollar appreciation marked the first Asian session of the current week, the price tested the lower limit of the upward trend which is in favor of the British pound. Passing trend line and a new rise in sterling will direct quotes in opposition to 1.5352, which in the case of a deal will enable the test in the area of the key level at 1.5475. In return option, however, hold the price in periods 7 and 14 MA and move into the lower limit of the upward channel will direct traffic to support 1.5067 and 1.4940 in the case of overcoming the first.


USD/CHF




Appreciation of the green money quotes lead to test the upper limit of the descendants of the green channel money and technical resistance level at 1.1238. In the case of maintenance and reversal of the daily traffic levels of technical support around 1.1132 and 1.0980 in the case of overcoming the first. In the opposite option, the zero crossing of the MACD line and the rising values of stochastic indicator made possible indications of rising U.S. dollar and hold the price above resistance at 1.1238 in order to key zone around 1.1423.