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Majors for today

Posted on October 17, 2008 at 12:13 in Short-Term Analysis by Valeria Bednarik

Market remains choppy, and majors will probably continue that way:

The Eur/usd has a nice support around 1.3380, yet seems bearish, so under it it will probably continue first, to the zone around 1.3345 and finally the 1.3300/20. I can’t see the pair moving to the upside, but resistances today are at 1.3454 and then 1.3510.

On the opposite, I see Gpb/usd slightly bullish for today, with a first resistance around 1.7326, followed by the zone around 1.7380 and finally 1.7440. Supports today will be at 1.7228, 1.7164 and the low side of the range at 1.7130.

The Usd/Jpy remains bearish in bigger charts, although the pair is just moving with US stocks, and probalby continue a while like this until stocks settle down. Only above 101.60 the pair could gain bullish momentum, first to the zone around 101.90, and then 102.30 above which the pair could continue at least to 102.65. Supports from actual price will be at 100.85, 100,54 an the zone around 100.00

Have a great day!

2 Responses to “Majors for today”

on 19 Oct 2008 at 8:27 am1Krishna

Hi Valeria,

How have u been?

I was just seraching for some potential trading opportunity in FX last friday. I saw in EURGBP great possibility to make money by shorting Euro against GBP.

I think its more long term than a short term opportunity. you may have to go longer time frame on the charts to see a big wave structure which is counting down towards .65/69 levels minimum in the next 6- 12 months….

in Monthly chart too, u can see 10 vs 20 moving avg coming down and an inverse —- bearsih atmosphere is developing technically from all area.

EURJPY monthly chart is pointing still towards 125/120 levels minium before we can see some meaningful bounce…. so Euro has more to go down than GBP ….

I just want you to have a look on EURGBP and EURJPY charts and post your view as well as analysis on that. so that many traders including me can get better confirmation on the Technical idea.

I am already short EURGBP at .7950 kept stoploss above .81… targeting .7550 first and second target .73

regards

Krishna
on 20 Oct 2008 at 11:17 am2Valeria Bednarik

Hi Krishna! I’m fine tks! hope you too. I will propose you this. Right now for me is 8.14 a.m. and I’m just starting the post, the charts, and all my analysis. Later in my afternoon, I will made a post about EUR/GBP. I will try to add to my daily posts one of this pairs per day, maybe not intraday, but more medium longer term view!.
Thangs for the suggestion
Regards
Val

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