FX Forex Market Technical Analysis:
Forex Trading Technical Analysis for the 3. Feb. 2012
Technical Analysis for the following Currencies:
EUR/USD, USD /CAD, USD/JPY, AUD/USD, GBP/USD, EUR/JPY, EUR/CHF
All Data are 6:40 am + 1 GMT
EUR / USD intraday: under pressure.
Fulcrum (devaluation level): 1.3185
We prefer: sales positions at 1.3175 with target prices for 1302 and 1.2985.
Alternative scenario: above 1.3185, we expect further upward movement of 1323 and 1325 as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.
USD / CAD in the course of the day: under pressure.
Fulcrum (devaluation level): 0.997
We prefer: short positions in 0997 with expanded course objectives at 0.9925 and 0.99.
Alternative scenario: on 0997, we expect further upside movement with 1 & 1003 as price targets.
Technical Analysis Comment: the upside potential is probably limited by the resistance at 0997.
USD / JPY intraday: continuation of the reversal.
Fulcrum (devaluation level): 76.35
We prefer: long positions at 76.4 with price targets of 76.85 & 77.05.
Technical analysis scenario: at 76.35, we expect further downward movements with 76 & 75.75 as price targets.
AUD / USD intraday: bullish trend through 1068.
Fulcrum (devaluation level): 1,068
We prefer: long positions through 1068 with advanced course aims to 1.0755 and 1.08.
Alternative scenario: in 1068 we expect further downward movements with 1.0635 & 1059 as price targets.
Technical Analysis Comment: the RSI is mixed with a bullish trend.
GBP / USD intraday: under pressure.
Fulcrum (devaluation level): 1,583
We prefer: short positions in 1582 to 1,574 with price targets and 1.57.
Alternative scenario: on 1583, we expect further upside with 1.5885 & 1593 movements as price targets.
Technical Analysis Comment: the RSI is badly directed.
EUR / JPY intraday: Caution.
Fulcrum (devaluation level): 100.1
We prefer: long positions on 100.1 with advanced course aims at 100.85 and 101.4.
Alternative scenario: at 100.1, we expect further downward movements with 99.85 and 99.6 as price targets.
Technical Analysis Comment: the RSI is inconsistent and can demand caution.
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