Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Apr 29 08 03:52 GMT |

EURUSD Outlook

The Euro had a minor recovery against Dollar yesterday. Seems like the pair need some fundamental factors to make a significant moves this week. My model remains mixed with downside bias. Immediate support still at 1.5580. Initial resistance also still at 1.5730. I am expecting ranging market today.

EURUSD Daily Supports and Resistances:

S1= 1.5599
S2= 1.5545
S3= 1.5498
R1= 1.5700
R2= 1.5747
R3= 1.5801

GBPUSD Outlook

The Sterling continued stronger against Greenback yesterday, but in a slower pace. The GBPUSD need to stay above 1.9860 area to keep the short term bullish outlook intact. My model remains long. Initial resistance seen at 1.9950.

GBPUSD Daily Supports and Resistances:

S1= 1.9803
S2= 1.9700
S3= 1.9619
R1= 1.9987
R2= 2.0068
R3= 2.0171

USDJPY Outlook

The USDJPY showed no significant move yesterday. The Japanese Yen made a little recovery against Dollar. My model is mixed with downside bias since CCI already in overbought area and just cross 100 line down on the daily chart. Immediate support at 104.10 followed by 103.90. Initial resistance at 104.75.

USDJPY Daily Supports and Resistances:

S1= 103.90
S2= 103.60
S3= 103.15
R1= 104.65
R2= 105.10
R3= 105.40

USDCHF Outlook

The USDCHF also seems to need some fundamental factors this week to make important technical moves. My model is mixed with downside bias since CCI already in overbought area on daily chart. Immediate support at 1.0305. Initial resistance at 1.0430

USDCHF Daily Supports and Resistances:

S1= 1.0303
S2= 1.0267
S3= 1.0236
R1= 1.0370
R2= 1.0401
R3= 1.0437

Bogdan Parascanu FX Instructor LLC
www.fxinstructor.com

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