Technical Analysis for Crosses

Written by Crown Forex |  Feb 19 09 06:35 GMT | 

EUR/JPY

The pair is moving in sideways and despite the whole medium term bearish outlook but actually it there is no clear signal that helps us say that the pair will breach this flat channel. Therefore we need a steadily close below 117.00 areas to confirm the downside signals which are still under construction on the WILLIAM %R and AC indicators.
Note: As far as the area between 118.80-119.97 remains unbroken the medium term bearish overview will not be changed.
Trading range for today is among key support at 114.60 and key resistance now at 119.97.
The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels

Support: 117.00, 116.60, 115.90, 115.00, 114.60
Resistance: 117.90, 118.66, 119.30, 120.13, 121.00
Recommendation: According to our analysis, we believe that it is good to sell the pair cautiously with a four hour close below 117.00 with targets at 115.50 and stop loss with a four hour close above 118.20

GBP/JPY

The upward recovery occurred yesterday has been limited around 133.80 cluster resistance as shown on the above chart forming a triple bearish candle stick pattern on which we depend to say that a new decline is expected in addition to the overbought signals appear on the WILLIAM%R and STOCKSTICK indicators so that our outlook today will be to the downside as far as 135.00, the first target of this decline is now around SMA 55 value at 132.00
Trading range for today is among key support at 127.50 and key resistance at 137.30.
The general trend is to the downside as far as 148.20 remains intact with target at 116.00 levels.

Support: 132.80, 131.60, 130.56, 129.54, 128.30
Resistance: 133.60, 134.30, 135.00, 136.17, 137.00
Recommendation According to our analysis, we believe that it is good to sell the pair with a four hour close below 132.70 with targets at 130.80 and stop loss with a four hour close above 134.10

EUR/GBP

SMA 20 value around 0.8920 prevented the royal pair from completing the bullish scenario acceleration towards 0.9070 as we explained before but once more it moved steadily ahead of the Asian session without aggressive actions up or down, hence we still a new upside move to test 0.8900 areas again. As far as 0.8650 remains unbroken our outlook will be to the upside based on oversold signals appearing on STOCKSTICK indicator as shown on the above chart.
Trading range is among the key support 0.8650 and key resistance now at 0.9206.
The general trend is to the upside as far as 0.8020 area remains intact with targets at 1.0000 followed by 1.0400 levels.

Support: 0.8800, 0.8760, 0.8690, 0.8645, 0.8583
Resistance: 0.8855, 0.8900, 0.9005, 0.9070, 0.9130
Recommendation: According to our analysis, we believe that it is good to buy the pair with a four hour close above 0.8860 with targets at 0.8960 and stop loss with a four hour close below 0.8785.

Source :

Crown Forex 

Written by iFOREX.bg |  Feb 19 09 06:25 GMT |

Technical Analysis Daily: EUR/USD EUR/USD 1.2583  EUR/USD Open 1.2562 High 1.2633 Low 1.2517 Close 1.2530 After Euro/Dollar broke out of the trianglular formation downwards, and went under 1.2560 support, yesterday the currency couple made a significant reduction. On the 1 hour chart, we can see a good example of how a break out of the triangle with combination and the passage of the CCI indicator give us a valid descending signal. Short signals are descending with objectives towards the region of 1.2460 and 1.2360. The CCI indicator went up the 100 line on the 1 hour chart, which may be a warning for a potential ascending rebound with testing of the 1.2650 resistance level. Technical resistance levels: 1.2650 1. 2755 1.2865 Technical support levels: 1.2460 1.2360 1.2245 Trading range: 1.2595 - 1.2530 Trend: Downward Sell at 1.2583 SL 1.2613 TP 1.2543 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com