FX Forex Market Technical Analysis:
Forex Trading Technical Analysis for the 2. 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 6:30 am + 1 GMT
EUR / USD intraday: continuation of the reversal.
Turning point (devaluation level): 1,309
We prefer: with purchase positions at 1.3095 & 1.3255 price targets to 1,323.
Alternative scenario: in 1309 we expect further downward movements with 1.3045 & 1302 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.
USD / CAD in the course of the day: ST currently consolidating.
Turning point (devaluation level): 1,001
We prefer: short positions in 1001 with expanded price targets on 0996 & 0994.
Alternative scenario: above 1001 we expect further upside movement with 1005 & 1007 as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.
USD / JPY intraday: under pressure.
Turning point (devaluation level): 76.4
We prefer: sales positions at 76.35 with price targets on 76 & 75.75.
Alternative scenario: above 76.4, we expect further upward movements with 76.6 & 76.85 as price targets.
Technical Analysis Comment: the RSI is badly directed.
AUD / USD intraday: bullish trend over 1068.
Turning point (devaluation level): 1,068
We prefer: long positions over 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 to bullish.
GBP / USD intraday: the upward movement will prevail.
Turning point (devaluation level): 1,578
We prefer, purchase positions at 1.5785 with targets at 1.5885 & 1593 course.
Alternative scenario: in 1578 we expect further downward movements with 1:57 & 1.5655 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.
EUR / JPY intraday: the trend remains bullish.
Turning point (devaluation level): 99.85
We prefer: long positions over 99.85 with advanced course aims to 100.85 & 101.4.
Alternative scenario: below 99.85, we expect further downward movements with 99.5 & 99.2 as price targets.
Technical Analysis Comment: the RSI is mixed with a bullish trend.
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