Forex

Posts Tagged ‘downside’

Having weakened on Monday and followed through lower in early trading today, risk of further weakness is likely to target its YTD low at 83.58. A breach of there will open the door for more downside pressure towards the 82.00 level, its psycho level with a cut through there aiming

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The EURUSD didn't make significant movement yesterday, but we had bearish pressure earlier today in Asian session, hit 1.2789 at the time I wrote this comment. On h1 chart below we can see the bullish channel has been violated to the downside indicating potential bullish failure at least testing 1.2777

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USDJPY: The pair continues to retain its broader downside bias as it looks to recapture its YTD low at 83.58 despite its price hesitation. A breach of there will open the door for more downside towards the 82.00 level, its psycho level with a cut through there aiming at the 81.00 level.

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The 1.0186 resistance held well. Since then we have seen what could be considered the resumption of the downtrend but being in the early stages without strong momentum we still need to be mindful of an earlier deeper correction. To handle the downside first, we'll need price to remain below

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In the Aug 26th email on $/swiss, said despite the market just above support at the falling trendline from mid July, the near term downside pattern was not "complete", raising the potential for a downside break (and possible acceleration lower). Sold there (then at 1.0250), and the market has indeed

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As bear pressure saw the pair tumbling off the 85.89 level on Monday to close lower and a follow-through lower in early trading today occurring, threats are now seen towards its YTD low at 83.58. A breach of there will open the door for more downside towards the 82.00 level,

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• Technical Analysis for Major Currencies (0)
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The pair succeeded in achieving the suggested scenario yesterday, especially after breaching support for the rising wedge and heading to the downside due to the negative pressure, in addition to the MA 50. Momentum indicators are showing clear oversold signs, thus pushing to retest pivotal level 1.2730 before heading towards

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The pair fluctuated near the previously breached pivot support levels at 1.2730, with attempts to stabilize above it. Note that, the last week's closing level was exactly at these levels, accordingly, preserving our expectations of a downside wave during this week, supported by the rising wedge that limits the pair's

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• USDJPY: Retains Its Broader Downside Bias (0)
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Although the pair held above the 1.5470 level following a brief halt of its weakness from the 1.5996 level, it remains vulnerable to the downside in the nearer term. This is suggestive of a break back below the 1.5470 level followed by the 1.5371 level, its daily 200 ema with

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• EURJPY: Remains Vulnerable To The Downside (0)
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Price action on USD/JPY (a 4-hour chart of which is shown) as of Thursday (8/26/2010) has made a bullish retracement after hitting a low just above its 83.50 downside support target just two days ago. This occurs within the context of an accelerated bearish trend extending from the early June

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