FX Forex Market Technical Analysis:

Forex Trading Technical Analysis for the 20. Jan. 2012

Technical Analysis for the following Currencies:

EUR/USD, USD /CAD, USD/JPY, AUD/USD, GBP/USD, EUR/JPY, EUR/CHF

All Data are  6:20 am + 1 GMT

EUR / USD intraday: supported by a rising trendline.
Turning point (devaluation level): 1.2915
We prefer, purchase positions at 1.2925 with price targets on 1.3 & 1.3015.
Alternative scenario: below 1.2915, we expect further downward movements with 1.2855 & 1:28 as price targets.
Technical Analysis Comment: the RSI is well aligned.

USD / CAD in the course of the day: under pressure.
Turning point (devaluation level): 1,014
We prefer: short positions in 1014 with expanded course objectives at 1.0095 & 1007.
Alternative scenario: above 1014 we expect further upside with 1.0165 & 1.0185 movements as price targets.
Technical Analysis Comment: although a continuation of the technical course correction can not be excluded, should be limited in its extent.

USD / JPY intraday: the upward movement will prevail.
Turning point (devaluation level): 76.9
We prefer, purchase positions at 76.95 with price targets at 77.35 and 77.5.
Alternative scenario: under 76.9, we expect further downward movements with 76.65 & 76.55 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.

AUD / USD intraday: the trend remains bullish.
Turning point (devaluation level): 1.0355
We prefer: long positions on 1.0355 with advanced course aims to 1,045 and 1.0475.
Alternative scenario: below 1.0355, we expect further downward movements with 1.0335 & 1:03 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.

GBP / USD intraday: the upward movement will prevail.
Turning point (devaluation level): 1,543
We prefer, purchase positions at 1,544, with price targets for 1552 & 1556.
Alternative scenario: in 1543 we expect further downward movements with 1:54 & 1.5365 as price targets.
Technical Analysis Comment: the RSI is well aligned.

EUR / JPY intraday: the upward movement will prevail.
Turning point (devaluation level): 99.25
We prefer: long positions over 99.25 with extended price targets on 100.3 & 100.5.
Alternative scenario: below 99.25, we expect further downward movements with 98.55 & 98.05 as price targets.
Technical Analysis Comment: the RSI is well aligned.

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