FX Forex Market Technical Analysis:
Forex Trading Technical Analysis for the 22. 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: expected reversal.
Fulcrum (devaluation level): 1.3175
We prefer: long positions at 1.3185 with target prices for 1329 & 1332.
Alternative scenario: below 1.3175, we expect further downward movement of 1311 and 1308 as price targets.
Technical Analysis Comment: the RSI is above its neutrality area at 50%.
USD / CAD in the course of the day: Be careful.
Fulcrum (devaluation level): 0.9955
We prefer: long positions on 0.9955 with advanced course aims to 1 & 1.0025.
Alternative scenario: below 0.9955, we expect further downward movements with 0.9925 & 0.99 as price targets.
Technical Analysis Comment: The technical indicators are mixed throughout the day and areas with caution.
USD / JPY intraday: further increase.
Fulcrum (devaluation level): 79.5
We prefer: long positions when price targets on 79.6 with 80.2 & 80.55.
Alternative scenario: below 79.5, we expect further downward movements with 79.15 & 78.95 as price targets.
Technical Analysis Comment: the RSI is advisable to keep going up.
AUD / USD intraday: under pressure.
Fulcrum (devaluation level): 1.07
We prefer: short positions under 1:07 with advanced course aims to 1.0592 & 1.0565.
Alternative scenario: to 1.07, we expect further upside with 1.0725 & 1076 movements as price targets.
Technical Analysis Comment: the RSI is mixed.
GBP / USD intraday: under pressure.
Fulcrum (devaluation level): 1.5825
We prefer: short positions in 1581 with price targets at 1.5735 and 1.5685.
Technical analysis scenario: about 1.5825, we expect further upward movement of 1588 and 1:59 as price targets.
EUR / JPY intraday: bullish trend on 105th
Fulcrum (devaluation level): 105
We prefer: long positions with over 105 advanced course aims to 106.35 & 106.55.
Alternative scenario: below 105, we expect further downward movements with 104.1 & 103.5 as price targets.
Technical Analysis Comment: the RSI is advisable to keep going up.
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