Thursday, September 25, 2008
25-Sep Market Commentary and Technical Levels
| By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD attempted to push lower, but failed to stay below 1.4622 support area. Early today in Asian session the pair was traded higher around 1.4720 at the time I wrote this comment. My model is mixed with no trading zone in nearest term but the upside bullish scenario targeting 1.5000 area is still intact. Immediate resistance is seen at 1.4740 followed by 1.4815. Initial support at 1.4660 followed by 1.4603 (yesterday’s low). EURUSD Daily Supports and Resistances: S1= 1.4561 S2= 1.4510 S3= 1.4418 R1= 1.4704 R2= 1.4796 R3= 1.4847 GBPUSD Outlook The GBPUSD can not made a break out from ranging area of 1.8642 and 1.8472. We need a break out from that ranging area to find a clearer direction. My model goes mixed with neutral bias. CCI in overbought area and heading down towards -100 line on daily chart suggesting a potential bearish pressure testing 1.8472 support level. GBPUSD Daily Supports and Resistances: S1= 1.8413 S2= 1.8361 S3= 1.8265 R1= 1.8561 R2= 1.8657 R3= 1.8709 USDJPY Outlook The Greenback was traded stronger against Japanese Yen yesterday. The pair topped at 106.35 and closed at 106.17. However the pair was traded lower early today in Asian session. My model is mixed with neutral bias. Immediate resistance is seen at 106.35 (yesterday’s high). Initial support at 105.50 followed by 105.10. CCI in neutral area on daily chart. USDJPY Daily Supports and Resistances: S1= 105.56 S2= 104.95 S3= 104.56 R1= 106.56 R2= 106.95 R3= 107.56 USDCHF Outlook The Greenback continued it’s positive momentum against Swiss Franc yesterday. The pair topped at 1.0934 and closed at 1.0921. However the pair was traded lower early today in Asian market, traded around 1.0840 at the time I wrote this comment. My model goes mixed with neutral bias. Immediate resistance is seen at 1.0934 (yesterday’s high). Initial support at 1.0825. CCI in neutral area on 4h chart. USDCHF Daily Supports and Resistances: S1= 1.0838 S2= 1.0755 S3= 1.0707 R1= 1.0969 R2= 1.1017 R3= 1.1100 Have a great day! Labels: Forex Analysis, FX Instructor |
posted by Matbank at 5:09 AM
