FX Forex Market Technical Analysis:
Forex Trading Technical Analysis for the 20. 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: further increase.
Fulcrum (devaluation level): 1.311
We prefer: long positions at 1.3125 with targets at 1.3285 and Exchange 1332.
Alternative scenario: in 1311 we expect further downward movement of 1308 and 1.3045 as price targets.
Technical Analysis Comment: the RSI is from a technical point of view of its neutrality area at 50
USD / CAD in the course of the day: the downward movement will prevail.
Fulcrum (devaluation level): 0.9983
We prefer: sales positions at 0.9983 with advanced course aims to 0.99 and 0.9865.
Alternative scenario: above 0.9983, we expect further upside movement with 1 & 1004 as price targets.
Technical Analysis Comment: as long as 0.9983 resistance remains is likely to fall to 0.99.
USD / JPY intraday: further increase.
Fulcrum (devaluation level): 78.9
We prefer: long positions in 79 with price targets on 80 & 80.2.
Alternative scenario: below 78.9, we expect further downward movements with 78.5 & 78.15 as price targets.
Technical Analysis Comment: the RSI is just landed on its neutrality area at 50% and turns upward.
AUD / USD intraday: expected reversal.
Fulcrum (devaluation level): 1.0725
We prefer: long positions on 1.0725 with targets at 1.0825 and advanced courses 1.0845.
Alternative scenario: below 1.0725, we expect further downward movement of 1069 and 1065 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.
GBP / USD intraday: bullish trend of 1.5785.
Fulcrum (devaluation level): 1.5785
We prefer: long positions at 1.5805 with targets at 1.5925 and 1.5945 price.
Alternative scenario: below 1.5785, we expect further downward movements with 1.5735 & 1569 as price targets.
Technical Analysis Comment: the RSI lacks downward momentum.
EUR / JPY intraday: the trend remains bullish.
Fulcrum (devaluation level): 104.1
We prefer: long positions on 104.1 with enhanced price targets on 106 & 106.35.
Alternative scenario: at 104.1, we expect further downward movements with 103.5 & 103.15 as price targets.
Technical Analysis Comment: the RSI is above its neutrality area at 50%.
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