Daily Technical Analysis 26.05.2009
EUR/USD
The currency pair euro / dollar retains trade within narrow limits despite sharp corrections with unclear direction in the Asian stock session. The price continues to trade at the upper limit of the rising price channel adjacent to the area for sale. If the trend of appreciation of the single currency is supported by maintaining stochastic oscillator, we may become witnesses to break the key resistance at 1.4060 followed by 1.4101. In turn option of purchasing a new wave of green money in order to gain quick adjustment would support 1.3722 and reaching the lower price limit rising price channel.
USD/JPY
The currency pair dollar / yen keeps trade in narrow range near the top line of the output price channel. Stochastic oscillator shows "O sword" in order to move the lower limit of the trend. If prices break key resistance 95.21 lasting correction will be directed in support of green money, but if the number of failed attempts do not lead to a correction we can expect the preservation and consolidation of support reached 93.79.
GBP/USD
The currency pair pound / dollar continues to make a test in which the limit of resistance is the upper half of the rising price channel. Break of 1.5900 key resistance situation would lead to permanent retention of the trend of appreciation of the pound. Unsuccessful attempt to break resistance and decreasing movement in the currency pair euro / dollar would change the direction of movement in favor of green money to support at least 1.5278. Histogramata MACD is in support of our expectation for a reduction in the price of sterling to form a downward divergence
USD/CHF
The currency pair continued its upward movement, our expectations are to maintain the trade in decreasing trend with a slight preponderance of dollars and reaching the upper limit of the channel. Stochastic oscillator and the MACD histogramata are in support of adjustment for the green money and reach resistance at the upper limit of the decreasing price channel.
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