Movement remains „bicho“ close-up

Technical analysis for August 28, 2009
EUR / USD
Euro / dollar was bullish momentum yesterday, as did the peak of 1.4405 and ended the day of 1.4347. On the one hour chart shows that the lower limit of the bullish channel provides us with better support, preventing future pressure on the bears, indicates that the bullish scenario remains valid. Bicho movement remains in close-up to 1.4446. CCI is located in an area of svhrahkupenost and went down to one hour schedule, so it is possible a potential downward pressure to the 1.4290 support area. Break below this level will lead to pair netarguvaema zone.

GBP / USD
After 3 days of sword movement GBP / USD korektira up yesterday. The couple tried to make the move to lower levels, making bottom of 1.6152, but further pressure on the bears was rejected, the couple walked up, made a peak of 1.6304 and ended the day of 1.6268. Of the four graphics can be seen that this was a case of a false break of the lower limit of the bullish channel. Bicho movement is a close-up test of 1.6360, but remains valid bearish channel indicates that the bearish scenario remains in force. Immediate support is at 1.6250/10 area. Break below this level will lead to a future bearish momentum. Today out data on gross domestic product of Britain, as a positive result would lead to a strong bullish momentum and negative data would continue bearish scenario.

USD / JPY
Dollar / yen was bearish momentum yesterday, as did bottom of 93.21 and closed the day 93.45. Of the four graphics can be seen that the bullish channel is drilled down, indicates that the bullish momentum is over and traffic is down to 92.70. However, CCI has just passed the limit of one hour -100 graphics, it is possible to move up to test the zone of resistance 94.00.

USD / CHF
Dollar / franc failure to continue its bullish momentum yesterday, as did bottom of 1.0527 and closing at 1.0586. On the one hour chart shows that price makes new minima and maxima with no clear direction. Has immediate support of 1.0527 (yesterday’s bottom). Break below this level will lead to a future bearish momentum towards 1.0430. Has immediate resistance of 1.0650 followed by 1.0750.

* The views expressed in this material does not constitute advice or recommendations to buy or sell. Forecasts cover the expectations expressed by the author of the material and may not be true.