FX Forex Market Technical Analysis:
Forex Trading Technical Analysis for the 2. May 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): 1.3245
We prefer: short positions in 1324 with price targets at 1:32 and 1.3175.
Alternative scenario: above 1.3245, we expect further upward movement of 1328 and 1:33 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): 0.9865
We prefer: sales positions at 0.9865 with targets at 0.9835 and advanced course 0982.
Alternative scenario: above 0.9865, we expect further upside with 0.9895 & 0.9925 movements as price targets.
Technical Analysis Comment: the RSI is badly directed.
USD / JPY intraday: repentance.
Fulcrum (devaluation level): 79.95
We prefer: long positions at 80 with price targets on 80.5 & 80.7.
Alternative scenario: below 79.95, we expect further downward movements with 79.6 & 79.3 as price targets.
Technical Comment: the RSI is well aligned.
AUD / USD intraday: Caution.
Fulcrum (devaluation level): 1.0355
We prefer: sales positions at 1.0355 with advanced course aims to 1,032 and 1.03.
Alternative scenario: above 1.0355, we expect further upward movements with 1:04 & 1.0435 as price targets.
Technical Analysis Comment: the RSI lacks upward momentum.
GBP / USD intraday: key short term resistance at 1,625.
Fulcrum (devaluation level): 1.625
We prefer: sales positions at 1.6245 with targets at 1.6205 and 1.6185 price.
Alternative scenario: on 1625, we expect further upside with 1.6275 & 1.63 movements as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.
EUR / JPY intraday: repentance.
Fulcrum (devaluation level): 105.75
We prefer: long positions at 105.82 with targets at 106.45 and 106.7 course.
Alternative scenario: at 105.75, we expect further downward movements with 105.4 & 105.25 as price targets.
Technical Analysis Comment: the RSI is well aligned.
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