Today we see reports of key inflation data

Technical Analysis for 15/09/2009

This week conversion of data from Britain and the United States may be a key test of market sentiment in the near term, amid signs that the surge in commodity prices and stock prices have, for now, running their course. Yesterday, aktsitsi world prices – as measured by the MSCI – showed its first loss in eight days; forward NYMEX oil contract fell below $ 69/mlrd. and the price of gold is dipped back below $ 1000/untsiya. The main benefit of these moves were government bonds and U.S. dollar.
Today we see reports of key data on inflation in the UK, PPI data and retail sales in the U.S. and the ZEW survey in Germany.

EUR / USD
Euro / dollar fell to attempt yesterday, reaching a bottom of 1.4514, but further bearish pressure was rejected as the pair picked up sharply to a peak of 1.4651 and 1.4620 closed. Short signals are rising to 1.4716, but I think that the situation may be quite hidden dangers. A four-graph ensemble „ascending wedge“, indicating a warning about potentially turning sword (correction). The price is now around the top line of the ascending channel, so that the downward correction is in fact logical at this point. However, short positions are not recommended. If „upward wedge“ be drilled down, the next downward target would be 1.4446 ..

GBP / USD
Formation „hanged“ give us a valid warning of a downward correction yesterday. The couple made a bottom close of 1.6518 and 1.6583. Taymfreym of the four we can see that so far force mighty bear can really make a breakthrough bullish channel as the price is still struggling with the lower limit of the channel. Bottom-up scenario remains intact and is preferable. The nearest resistance is 1.6655. Break above that level would cause a further upward momentum retestvane of 1.6740. First support is 1.6500. When a valid break below it will probably fail to see the bulls.

USD / JPY
Dollar / yen up korektira yesterday, reaching a peak of 91.13 and closed the day 90.93. We’re not surprised, as formed „hammer“ that showed you yesterday, give us a valid signals for increasing jumping. It is possible to have another scourge correction today with test areas of resistance 91.15, and 91.80. Only a clear break above 91.80 should be seen as a threat to downstream current views. The closest support can be seen in 90.70-90.20. Preferably downstream scenario, but mezhe would be better to stay out of the market now.

USD / CHF
Dollar / franc attempts to rise yesterday, making a peak of 1.0422, but further adjustment scourge was limited and the pair closed lower to 1.0344. The daily schedule we have another „inverted hammer“ so that an upward adjustment of the warning is still here. Preferably bearish scenario, but perhaps it is better to wait. Yes, the current downward momentum is strong and attractive, but never ignore any correction / turning signal. Immediate support is of 1.0300-1.0250. First resistance is 1.0422 (yesterday’s peak), followed by 1.0527.

* 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.

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Prepared analysis: FC Populyarnakasa 95 AD

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