|
FXTechstrategy Launches New Subscription Plans/Packages
EURUSD: Struggling To Recover Higher.
EURUSD: Risk of a recovery higher continues to develop as the pair saw a halt in its nearer term weakness the past week. This development now leaves the EUR angling for further recovery towards its Aug 18’10 high at 1.2921. Further out, resistance is located at the 1.3332 level with a break of there resuming its short term uptrend towards its .50. Fib Ret (1.5143-1.1875 decline) at 1.3500 and then the 1.3691 level, its April 12’10 high. On the other hand, below the 1.2586 level will call for more weakness towards the 1.2522 level, its July 13’10 high followed by its Jun 20’10 high at 1.2466. Overall, with bull pressure developing, higher level prices are envisaged as we enter a new week. EURUSD: Struggling To Recover Higher.
EURUSD: Risk of a recovery higher continues to develop as the pair saw a halt in its nearer term weakness the past week. This development now leaves the EUR angling for further recovery towards its Aug 18’10 high at 1.2921. Further out, resistance is located at the 1.3332 level with a break of there resuming its short term uptrend towards its .50. Fib Ret (1.5143-1.1875 decline) at 1.3500 and then the 1.3691 level, its April 12’10 high. On the other hand, below the 1.2586 level will call for more weakness towards the 1.2522 level, its July 13’10 high followed by its Jun 20’10 high at 1.2466. Overall, with bull pressure developing, higher level prices are envisaged as we enter a new week. USDJPY: Looks To Weaken Further. USDJPY: The pair’s bearish momentum continues to unfold as it saw further weakness the past week driving it further lower to 85.01 on Friday. The risk now remains for further decline towards the 84.80 level, its 2010 low followed by the 82.00 level, its psycho level. However, a violation of the 88.11 level will have to occur to annul its present downside weakness and bring gains towards the 89.14 level with a clearance of that level turning attention to the 89.68 level, its broken rising trendline. All in all, USDJPY now looks to weaken further in the day’s ahead
Subscribe NOW To Our Most Recommended & Valued Service-The Professional Suite
GBPUSD: Bear Threats Still Seen. GBPUSD: Although the pair held above the 1.5470 level following a brief halt of its weakness from the 1.5996 level, it remains vulnerable to the downside in the nearer term. This is suggestive of a break back below the 1.5470 level followed by the 1.5371 level, its daily 200 ema with a loss of there targeting further downside. However, to annul this downside view, the 1.5996 level, its Aug 08’10 high will have to be violated to create scope for additional recovery towards the 1.6274 level, its Jan 24’10 high and then the 1.6466 level, its Jan 2010 high. All in all, with continued weakness in progress, further losses are likely.
Weekly Chart: GBPUSD 
Note: This is an excerpt from The Professional Suite, our daily 7 currency model analysis research package covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP and USDCAD.
![]() ![]() ![]()
Get More Details About The Professional Suite
Have Questions About Our Packages?
Download A Sample Technical Report
Redistribution, republication or copying of FXTechstrategy.com content is clearly prohibited without the prior written permission of FXTechstrategy.com .This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice..Click here for full disclaimer
|
