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USD/CHF at 200-day Moving Average Resistance

Postby Himanshu » Tue Nov 13, 2012 3:33 am

First time since September 11th when USD/CHF had broken below the support of 200-day moving average, it is trying to test that resistance. A break of this resistance is more important because of the fact that here the psychological resistance of 0.9500 is also coming into the picture. For past 3 hours the currency pair is trying to break over 0.9500 but has been unable to sustain the momentum.

We expect that the resistance should continue for some time but the recent price action indicates that USD/CHF should be able to break over this and the 200-day moving average to test 0.9600. Any decisive break below 0.9465 may bring some downward consolidation. The 55-day EMA support is now near 0.9410.

USD/CHF daily chart:

usdchf at 200 day moving average level.JPG
usdchf at 200 day moving average level.JPG (78.23 KiB) Viewed 923 times
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USD/CHF - Three Days of Failure

Postby Himanshu » Wed Nov 14, 2012 7:52 am

This is in continuation of the previous post. USD/CHF had failed exactly at 200-day Moving Average for 3 trading days. Please check the chart below to see how beautifully the 200-day EMA has provided resistance for past 4 days and out of those 4 days, EUR/USD found the resistance exactly at that level.

This continuous resistance indicates that we can expect at least some temporary consolidation. The support may come near first neat 0.9430 and if a break takes place then in the range of 0.9405/0.9410. Any decisive break below 0.9400 may bring some deeper moves.

USD/CHF Daily Chart:

usdchf-200-day-sma barrier.JPG
usdchf-200-day-sma barrier.JPG (81.47 KiB) Viewed 939 times
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GBP/USD Break Of The Trend Line

Postby Himanshu » Wed Nov 14, 2012 9:20 pm

The support trend line which has been taking shape since early June 2012 was broken some time back. The price action during this week has been below it to indicate that we can consider this break as a decisive one. Please have a look on the weekly chart of GBP/USD:

GBP/USD Weekly Chart:

(Please scroll down the charts)

GBPUSD Break of the trend line.JPG
GBPUSD Break of the trend line.JPG (75.18 KiB) Viewed 909 times


This break indicates that further downward move can be expected in the coming days. If we consider Fibonacci retracement level then the immediate target would be near 1.5780/1.5785 but such a move should bring some deeper moves.

GBP/USD Retracement Levels:

GBPUSD 50 pc retracement.JPG
GBPUSD 50 pc retracement.JPG (80.5 KiB) Viewed 909 times


What happened During Last such trend line support break?

GBPUSD trend line 2.JPG
GBPUSD trend line 2.JPG (87.42 KiB) Viewed 909 times
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EUR/USD - Two resistance Levels

Postby Himanshu » Thu Nov 15, 2012 11:33 am

EUR/USD is at the short-term trend line resistance level. It has not been a very perfict trend line for price spikes but still a nearly perfect one. If a fall does not take place from here and a break of this trend line occurs then the next resistance should come in the range of 1.2840/1.2850 (55-day EMA). A fall should come sooner or later and hence we will be watching these 2 resistance levels:

EUR/USD Daily Chart
(Please scroll down on the chart window to see complete chart)

EURUSD resistance level.JPG
EURUSD resistance level.JPG (89.18 KiB) Viewed 930 times
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EUR/USD At Support Level

Postby Himanshu » Thu Dec 06, 2012 11:22 pm

EUR/USD has completed the 38.2% retracement of the recent upward move and the current price is at that support level. If no decisive break below 1.2950 takes place then the upward movement should resume. However, a decisive break below 1.2950 should bring further consolidation towards 1.2915 or more.

EUR/USD Daily Chart:

eurusd-382-retracement-dec-7th-2012.JPG
eurusd-382-retracement-dec-7th-2012.JPG (72.99 KiB) Viewed 869 times
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EUR/USD And Bollinger Bands

Postby Himanshu » Thu Dec 13, 2012 4:44 am

On daily chart near the upper band of Bollinger band resistance:

EURUSD and Bollinger bands.JPG
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GBP/JPY and USD/JPY - 150 pips or 500 pips?

Postby Himanshu » Tue Apr 23, 2013 8:52 am

The failure of USD/JPY below 100 has been quite natural. If the pressure continues then consolidation towards 98.00 or 97.40 can not be ignored. While this may present an opportunity for 135 to 200 pips but such a move may cause GBP/JPY to move towards 145.20 or even 142.90 and hence a range of 500 to 700 pips as compared to the current levels.

Please check the detaied post in the Chart ALert section of our Forex blogs.
The URL is:

http://www.forexabode.com/forexblog/forex-fundamentals-and-news/forex-analysis/chart-alert/2013/04/23/forex-chart-alert-japanese-yen-pairs-and-possible-opportunities/
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