Friday, September 26, 2008
26-Sep Market Commentary and Technical Levels
| Fri, 26th of September, 2008 By Setyo Wibowo (analyst@fxinstructor.com) EURUSD Outlook The EURUSD made indecisive movement by opened and closed at almost the same price yesterday (1.4613 and 1.4617). The pair attempted to pushed lower, bottomed at 1.4560 but further bearish momentum was rejected as the pair closed higher. Early today in Asian session the pair was traded softly higher around 1.4660 at the time I wrote this comment. My model is mixed with neutral bias. Immediate support is seen at 1.4603 followed by 1.4560 (yesterday’s low). CCI just cross -100 line up on 4h chart suggesting a potential bullish pressure testing 1.4770 resistance area. EURUSD Daily Supports and Resistances: S1= 1.4529 S2= 1.4441 S3= 1.4322 R1= 1.4736 R2= 1.4855 R3= 1.4943 GBPUSD Outlook The GBPUSD break out to the downside from the ranging area of 1.8642 and 1.8472 yesterday. The pair bottomed at 1.8305 and closed at 1.8381. However the pair was traded softly higher around 1.8420 at the time I wrote this comment. My model goes mixed with downside bias. Immediate resistance is seen at 1.8467. Initial support at 1.8380 followed by 1.8305 (yesterday’s low). CCI about to cross 100 line down on daily chart suggesting a potential bearish view. GBPUSD Daily Supports and Resistances: S1= 1.8235 S2= 1.8089 S3= 1.7873 R1= 1.8597 R2= 1.8813 R3= 1.8959 USDJPY Outlook The USDJPY continued it’s bullish momentum yesterday. The pair topped at 107.01 and closed at 106.47. However the pair was corrected lower early today in Asian session, traded around 105.90 at the time I wrote this comment. My model is mixed with downside bias. Immediate resistance is seen at 106.50. Initial support at 105.50 followed by 104.70. CCI just cross -100 line down on 4h chart suggesting a potential downside pressure. USDJPY Daily Supports and Resistances: S1= 105.61 S2= 104.76 S3= 104.06 R1= 107.16 R2= 107.86 R3= 108.71 USDCHF Outlook The USDCHF current bullish momentum was softly corrected yesterday but bearish momentum was also seemed very limited. My model is mixed with neutral bias. I am expecting a ranging market between 1.0943 and 1.0800. A break out from that ranging area would give us a clearer direction. CCI in oversold area on daily chart. USDCHF Daily Supports and Resistances: S1= 1.0815 S2= 1.0737 S3= 1.0674 R1= 1.0956 R2= 1.1019 R3= 1.1097 Have a great weekend! Labels: ADVFN NewsDesk, Forex Analysis |
posted by Matbank at 4:32 AM
