FxInstructor
09-08-2008, 10:10 PM
EURUSD Outlook
The EURUSD failed to maintain it's bullish correction yesterday. After failed to move consistently above 1.4410 resistance level, the pair sharply fell, bottomed at 1.4053 and closed at 1.4118. My model is short targeting 1.3930. Immediate resistance is seen at 1.4142. CCI in oversold area on daily chart and heading up so watch out for a minor upside correction.
http://i37.tinypic.com/11azle8.jpg
EURUSD Daily Supports and Resistances:
S1= 1.3971
S2= 1.3824
S3= 1.3596
R1= 1.4346
R2= 1.4574
R3= 1.4721
GBPUSD Outlook
The Sterling suffered the biggest losses against Greenback yesterday. The pair moved 504 pips, bottomed at 1.7470 and closed at 1.7579. My model is short targeting 1.7320. Immediate resistance is seen at 1.7588 followed by 1.7662. CCI about to cross -100 line down both on hourly and 4h chart suggesting a potential bearish view.
http://i35.tinypic.com/io2dyu.jpg
GBPUSD Daily Supports and Resistances:
S1= 1.7374
S2= 1.7170
S3= 1.6870
R1= 1.7878
R2= 1.8178
R3= 1.8382
USDJPY Outlook
The USDJPY failed to maintain it's bullish momentum yesterday. The pair bottomed at 107.42 and closed at 107.56. We have a new bearish channel on hourly chart. My model is mixed with downside bias. Immediate resistance is seen at 107.81 followed by 108.22. Initial support at 107.05. CCI just cross -100 line down on daily chart suggesting a bearish view.
USDJPY Daily Supports and Resistances:
S1= 107.56
S2= 106.98
S3= 106.22
R1= 108.90
R2= 109.66
R3= 110.24
USDCHF Outlook
The USDCHF continued it's bullish momentum yesterday. The pair topped at 1.1370 and closed at 1.1315. We have a valid bullish channel on hourly chart. My model goes long targeting 1.1420. Immediate support is seen at 1.1278. CCI in overbought area and heading down on 4h chart so watch out for a minor downside correction.
USDCHF Daily Supports and Resistances:
S1= 1.1170
S2= 1.1026
S3= 1.0926
R1= 1.1414
R2= 1.1514
R3= 1.1658
Have a great day!
The EURUSD failed to maintain it's bullish correction yesterday. After failed to move consistently above 1.4410 resistance level, the pair sharply fell, bottomed at 1.4053 and closed at 1.4118. My model is short targeting 1.3930. Immediate resistance is seen at 1.4142. CCI in oversold area on daily chart and heading up so watch out for a minor upside correction.
http://i37.tinypic.com/11azle8.jpg
EURUSD Daily Supports and Resistances:
S1= 1.3971
S2= 1.3824
S3= 1.3596
R1= 1.4346
R2= 1.4574
R3= 1.4721
GBPUSD Outlook
The Sterling suffered the biggest losses against Greenback yesterday. The pair moved 504 pips, bottomed at 1.7470 and closed at 1.7579. My model is short targeting 1.7320. Immediate resistance is seen at 1.7588 followed by 1.7662. CCI about to cross -100 line down both on hourly and 4h chart suggesting a potential bearish view.
http://i35.tinypic.com/io2dyu.jpg
GBPUSD Daily Supports and Resistances:
S1= 1.7374
S2= 1.7170
S3= 1.6870
R1= 1.7878
R2= 1.8178
R3= 1.8382
USDJPY Outlook
The USDJPY failed to maintain it's bullish momentum yesterday. The pair bottomed at 107.42 and closed at 107.56. We have a new bearish channel on hourly chart. My model is mixed with downside bias. Immediate resistance is seen at 107.81 followed by 108.22. Initial support at 107.05. CCI just cross -100 line down on daily chart suggesting a bearish view.
USDJPY Daily Supports and Resistances:
S1= 107.56
S2= 106.98
S3= 106.22
R1= 108.90
R2= 109.66
R3= 110.24
USDCHF Outlook
The USDCHF continued it's bullish momentum yesterday. The pair topped at 1.1370 and closed at 1.1315. We have a valid bullish channel on hourly chart. My model goes long targeting 1.1420. Immediate support is seen at 1.1278. CCI in overbought area and heading down on 4h chart so watch out for a minor downside correction.
USDCHF Daily Supports and Resistances:
S1= 1.1170
S2= 1.1026
S3= 1.0926
R1= 1.1414
R2= 1.1514
R3= 1.1658
Have a great day!