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February 2013 - - ForexAbode.com

USD/CHF Breaks One Resistance But Another On The Way

February 28, 2013 11:34 pm GMT+0  in Chart Alert

USD/CHF has been finding resistance below the critical 200-day moving average for past few days. The currency pair had broken below the 200-day moving average on September 11, 2012 i.e. over 4 and a half months back and since then the price action could not break over this resistance. The break certainly indicates that weRead the Rest…

Yen slightly changed after Kuroda nomination for BoJ Governor

February 28, 2013 11:31 am GMT+0  in Forex Analysis

Economic news (28 February 2013) – The yen remained weak in early Thursday trading after Japanese Prime Minister Abe nominated Asian Development Bank President Haruhiko Kuroda for the post of BoJ governor. The Japanese currency is on the way for a fifth consecutive month of decline, reaching its longest stretch since August 2008. The yenRead the Rest…

USDJPY: Weakens, Further Bear Threats Seen.

February 27, 2013 5:10 pm GMT+0  in Forex Analysis

USDJPY: The pair still faces downside pressure on correction. Further downside is likely towards the 90.86 level. Below here could force further downside towards the 90.00 level. On ending the mentioned correction, it should return above the 94.45 level to trigger medium term uptrend. Further out, resistance resides at the 95.00 level with a turnRead the Rest…

Euro slightly higher after steep decline on Italian election results

February 27, 2013 11:18 am GMT+0  in Forex Analysis

Economic news (27 February 2013) – The euro started the first day of the week with a sharp depreciation against its major currency rivals after results of the parliamentary elections in Italy raised questions about the future of financial reforms. Following the reports on Tuesday, the single currency fell to a 7-week low against theRead the Rest…

EUR/USD Against The Wall Of Double Support

February 26, 2013 9:17 am GMT+0  in Chart Alert

In our last weekly analysis of EUR/USD we had mentioned the following: “On the down side if there is a decisive break below 1.3060 then very strong support near 1.3000/1.3020 is expected. This zone will have combined supports of the psychological level of 1.3000, 200-day moving average and the support zone during the sideways moveRead the Rest…

USDCHF And 200 Day Moving Average Resistance

February 26, 2013 3:35 am GMT+0  in Chart Alert

USD/CHF found resistance exactly at 200-day moving average again. If this resistance holds then a reversal may take place but if USD/CHF manages to break this resistance this time then it may try to test the psychological 0.9500. Please check the daily chart of USD/CHF: On the down side the trend line support needs toRead the Rest…

USD/CHF Caught Between 38.2% And 50% Retracement Levels

February 24, 2013 6:21 am GMT+0  in Chart Alert

USD/CHF had seen a strong down trend during the beginning of June 2010 and August 2011. The currency pair had fallen from the high of 1.7731 to 0.7069. The upward consolidation of this downward move gad found strong resistance near 61.8% retracement level and the currency pair had fallen below the 50% retracement of theRead the Rest…

GBPUSD Breaks the Sideways Range of 2.5 Years

February 24, 2013 2:57 am GMT+0  in Chart Alert

GBP/USD has been in a very volatile sideways range between 1.5233 and 1.6746 for past two and a half years. The last week’s break below 1.5233 comes as a break of that range and certainly makes the bearish outlook strong. On the other hand the support of approaching 1.5000 level may try to balance the bearishRead the Rest…

Japanese Yen Pairs- Which Currency Pairs Broke The Support Trends

February 24, 2013 2:12 am GMT+0  in Chart Alert

Some Japanese yen currency pairs had been following clear support trends. In this post we will check any updates of some of those pairs. USD/JPY – Trend continues Past 14 weeks the price action has been mainly over 5-Week EMA level and the 5-week EMA has been acting as support. The trend continues even whenRead the Rest…

EUR/USD’s Supports And Resistances

February 24, 2013 1:04 am GMT+0  in Chart Alert

1) EUR/USD near the 38.2% retracement of it’s upward move from 1.2042 to 1.3711. A move towards this i.e. 1.3065/1.3073 can not be ignored. EUR/USD weekly chart 2) The Resistance had come below 50% retracement of the previous fall from 1.4940 to 1.2042. Please also note that the current price action is at 38.2% retramentRead the Rest…

USDCHF- Strengthens For Third Week In A Row

February 23, 2013 1:08 pm GMT+0  in Forex Analysis

USDCHF: With USDCHF maintaining a third-week of upside gains, there is risk of a recapture of the 0.9388 level, its Feb 18’2013 high. Further out, resistance comes in at the 0.9400 level followed by the 0.9456 level and then the 0.9511 level. Its weekly RSI is bullish and pointing higher supporting this view. Conversely, supportRead the Rest…

USDCAD: Sees Further Bullish Momentum.

February 21, 2013 7:24 pm GMT+0  in Forex Analysis

USDCAD: With the pair on the verge of recapturing the 1.0200 level, we could see further price extension. This could target the 1.0250 level where a violation will aim at the 1.0300 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 1.0150 level where aRead the Rest…