Technical Analysis for Crosses

Written by Crown Forex |  Feb 23 09 06:31 GMT |

EUR/JPY

The pair is trading above 38.2% Fibonacci of the whole decline started at 131.02 placing a high at 120.40 areas claiming that it’s moving above the previous explained flat channel as shown on the above chart besides the stability above envelopes valued now at 119.20 areas will technically supports our today’s bullish expectation in particular if 117.90 areas remain unbroken.
Notes: 1-we need to watch STOCKSTICK & WILLIAM %R carefully before deciding to trade the eur-jpy today.
2- SMA value now is at 117.80
Trading range for today is among key support at 116.55 and key resistance now at 123.80.

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: 119.20, 118.52, 117.80, 117.00, 116.55
Resistance: 120.30, 120.90, 121.60, 122.15, 123.00
Recommendation: According to our analysis, we believe that it is good to buy the pair cautiously with a four hour close above 120.30 with targets at 121.80 and stop loss with a four hour close below 119.00.

GBP/JPY

As we explained in our Friday’s mid-day report that the negative effect of the divergence has been already limited around the previous mentioned support areas around 132.80, so that the retrace occurred from there and ended by a clear four above 23.6% Fibonacci encourages us to say that more incline is still in favor supported by moving above envelopes as shown on the above chart therefore our intraday outlook will be to the upside e as far as areas between 132.25and 132.70 remains unbroken.
Note: Gator oscillator supports our overview.
Trading range for today is among key support at 129.70 and key resistance at 139.90.
The general trend is to the downside as far as 148.20 remains intact with target at 116.00 levels.

Support: 134.39, 133.31, 132.44, 131.60, 130.66
Resistance: 135.20, 136.12, 137.27, 138.29, 139.15
Recommendation: According to our analysis, we believe that it is good to buy the pair with a four hour close above 135.20 with targets at 137.00 and stop loss with a four hour close below 133.70.

EUR/GBP

The consolidation action above the upper line of the descending channel at 0.8880 and also stability above SMA 20 as shown on the above chart is still supporting our bullish outlook for the royal pair as we explained in our previous reports besides the effect of the bullish formation of the candle stick occurred with the market close is still in progress, hence we still expect more incline for intraday basis as far as 0.8650 areas remains unbroken, RSI is neutral but AC give a bullish signal.
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: 0.8850, 0.8800, 0.8765, 0.8720, 0.8670
Resistance: 0.8930, 0.8971, 0.9030, 0.9105, 0.9180
Recommendation: According to our analysis, we believe that it is good to buy the pair with a four hour close above 0.8920 with targets at 0.9030and stop loss with a four hour close below 0.8820.

Crown Forex

Written by iFOREX.bg |  Feb 23 09 06:17 GMT Technical Analysis Daily: EUR/USD EUR/USD 1.2875 EUR/USD Open 1.2787 High 1.2751 Low 1.2529 Close 1.2821 The ascending triangle on the 1 hour chart on Friday gave good signals for upward adjustment for the Euro/Dollar. The currency couple increased, reaching a top at 1.2860, but failed to close the week above the key level 1.2910. On the 1 hour chart we have a bullish channel, and earlier today quotes tested and broke upwards the resistance line 1.2940. Short signals are ascending, but in the long term remain descending. The crucial resistance at 1.2850 was also penetrated, which may cause further increasing scenario towards 1.3000. Immediate resistance is 1.2780. Break at that level may lead to a continuation of the upward adjustment towards 1.3130. The CCI indicator crossed up the 100 line and is upwards on the 1 hour chart. Technical resistance levels: 1.3000 1. 3130 1.3255 Technical support levels: 1.2780 1.2560 1.2425 Trading range: 1.2865 - 1.2925 Trend: Upward Buy at 1.2875 SL 1.2845 TP 1.2915 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com