Euro
Weekly Report 15 - 19 / March / 2010
The pair managed to achieve the breach of resistance for the main descending channel while the daily closing is above it – resistance is currently at 1.3725 -. This closing makes us expect a possible bullish direction for this week targeting 1.3960 then 1.4090; requiring mainly the daily closing to remain above 1.3645.
The trading range for this week is among the key support at 1.3515 and the key resistance at 1.4090.
The general trend is to the upside if we do not witness a daily close below 1.3485 with targets at 1.5150.
Previous Report
| Support | 1.3725 | 1.3645 | 1.3580 | 1.3485 | 1.3430 |
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| Resistance | 1.3800 | 1.3890 | 1.3960 | 1.4000 | 1.4090 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair from 1.3725 targeting 1.3960 and stop loss below 1.3580, might be appropriate. |
Great British Pound (GBP)
Weekly Report 15 - 19 / March / 2010
After rebounding upwards from support for the descending channel, the pair is fluctuating around 23.6% Fibonacci correction, nearing main resistance 1.5280. More expected bullish correction is expected for this week that encourages us to expect signs of a bullish technical pattern, where the breach of its neckline is at 1.5175 as we wait for the assurance of today's closing above it. Technical targets start from the breach of 1.5280 and head towards 1.5415. Keep in mind that the breach of 1.4940 weakens chances of achieving these expectations.
The trading range for this week is among the key support at 1.4865 and the key resistance at 1.5415.
The general trend is to the upside as far as 1.4850 remains intact with targets at 1.7000.
Previous Report
| Support | 1.5135 | 1.5065 | 1.4990 | 1.4900 | 1.4850 |
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| Resistance | 1.5210 | 1.5280 | 1.5345 | 1.5415 | 1.5475 |
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| Recommendation | Based on the charts and explanations above our opinion is buying the pair with the breach of 1.5280 targeting 1.5415 and stop loss below 1.5175, might be appropriate. |
Japanese Yen (JPY)
Weekly Report 15 - 19 / March / 2010
The pair continues trading within the short term descending channel, where the pair is nearing its resistance at 91.35 and met by MA 200. Momentum indicators are showing negative signs that encourage us to expect a possible bearish trend over a short term trend; targeting 88.20 then 87.15. Keep in mind the importance of the daily closing remaining below 91.85 to maintain chances of achieving these expectations.
The trading range for this week is among the key support at 87.15 and the key resistance at 92.15.
The general trend is to the downside as far as 101.65 remains intact with targets at 82.60.
Previous Report
| Support | 90.35 | 89.85 | 89.35 | 88.70 | 88.20 |
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| Resistance | 91.35 | 92.15 | 92.90 | 93.75 | 94.50 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair from 91.35 target 89.85 and stop loss above 92.15, might be appropriate. |
Swiss Franc (CHF)
Weekly Report 15 - 19 / March / 2010
The pair managed to achieve the breach of the neckline for the bearish technical pattern shown in our previous reports at 1.0645, currently hitting into the retest level for the breached major bullish pattern, which has been pointed out throughout the previous weeks, shown in the image above, at 1.0575. Bullish signs are appearing through the stochastic that could push the pair to retest the neckline for the bearish technical pattern at 1.0645 followed by a bearish reversal, where the pair will achieve through it the possible bearish direction over the short term trend that will start with the breach of 1.0575 and head towards 1.0425 then 1.0310. This suggested scenario will prevail if do not witness a breakout below the resistance line for the descending channel that is currently at 1.0715.
The trading range for this week among the key support at 1.0315 and the key resistance at 1.0790.
The general trend is to the downside as far as 1.1095 remains intact with targets at 0.9910.
Previous Report
| Support | 1.0575 | 1.0515 | 1.0460 | 1.0425 | 1.0360 |
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| Resistance | 1.0605 | 1.0645 | 1.0715 | 1.0790 | 1.0840 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair from 1.0645 targeting 1.0515 and stop loss above 1.0715, might be appropriate. |
Canadian Dollar (CAD)
Weekly Report 15 - 19 / March / 2010
After insuring the breach of the neckline for the bearish technical pattern at 1.0365, the pair moved downwards in its way to achieve the complete targets for the bearish wave that is currently expected to be at 0.9950. Momentum indicators are showing positive signs that could push to attempt some mentioned minor bullish correction, but the in overall we await a bearish trend that is expected for this week. Keep in mind the importance of the daily closing remaining below 1.0365 to insure this scenario's completion.
The trading range for this week is among the key support at 0.9830 and the key resistance at 1.0445.
The general trend is to the downside as far as 1.0780 remains intact with targets at 1.0000.
Previous Report
| Support | 1.0150 | 1.0080 | 1.0000 | 0.9950 | 0.9865 |
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| Resistance | 1.0230 | 1.0290 | 1.0365 | 1.0445 | 1.0500 |
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| Recommendation | Based on the charts and explanations above our opinion is selling the pair from 1.0220 targeting 1.0000 and stop loss above 1.0365, might be appropriate. |