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Hourly charts for majors

Posted on May 7, 2009 at 13:58 in Short-Term Analysis by Valeria Bednarik

EUR/USD Current price: 1.3410
Trichet’s announcement of quantitative easing in the euro zone, send the pair to test the 1.3440 resistance zone, a probable triple roof, in the hourly chart. Indicators are pointing for further gains in the pair, so watch for a confirmation above that level. Base of the formation around 1.3240 seems to far to be tested in the next hours.
Support levels: 1.3400 1.3345 1.3310
Resistance levels: 1.3440 1.3482 1.3520
GBP/USD Current price: 1.5040
Hovering around the 1.5050 key level, where we have 20 SMA in 4 hours charts, pair break under the descendant trend line we have been following, and points for a retest of the 1.5000 zone. Hourly indicators are exhausted, but only above 1.5080 the pair could regain the upside.
Support levels: 1.5030 1.5000 1.4966
Resistance levels: 1.5080 1.5110 1.5160
USD/JPY Current Price 99.16
Again pair failed to break above the 99.60 zone, and quickly come back. Pair accomplished cannel target, now not useful. Hourly charts are suggesting some downside movements for the next hours, with bearish indicators and a previous reversal candle. Bigger charts, remain clearly bullish.
Support levels: 99.10 98.80 98.50
Resistance levels: 99.28 99.65 100.00
USD/CHF: Current Price: 1.1257
Falling quickly following euro, pair is about to break the 1.1240 key level, that’s been holding the downside. Despite indicators support further losses in the pair, rally is over extended. Expect some corrections if pair reaches 1.1200.
Support levels 1.1240 1.1200 1.1160
Resistance levels: 1.1285 1.1320 1.1350
NOTE: when not detail, supports and resistance levels reflect past session candles minimums or maximums congestion zones.

Tags: dollar, Euro, Majors

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