Technical Analysis.

[guru000]

#3231
i think EUR/USD
It is more likely to go down to around 1.4430 or lower, and after that, It is more likely to go up to around 1.45 or higher.
and GBP/USD
It is more likely to go down to around 1.63 or lower than 1.6270, and after that, It is more likely to go up to around 1.64. good luck

[hammad101]

i would like to know the difference between this two imean fundamental and technical analysys as they play great role in trading , i heard that one should not trade when ther is news session as it moves accordingly technicals when news over.News are acordingly technicals?

[hammad101]

i think technical analysis is more better than fundamental, but it depend on each trader.
i'm fear about fundamental news so i choose technical to my strategy

[hammad101]

i think EUR/USD
It is more likely to go down to around 1.4430 or lower, and after that, It is more likely to go up to around 1.45 or higher.
and GBP/USD
It is more likely to go down to around 1.63 or lower than 1.6270, and after that, It is more likely to go up to around 1.64. good luck

[hammad101]

Actually the technical analsis poster has been on vacation so was not updated.

Anyways you will see update in few days.

Anyways my Analysis are as follows

EURO USD: Sell below 4362 for tgt of 4304 which is 55 ema and 55wma so this level wil be key point.

GBPUSD: Will be good sell with SL of 6505 tgt can be 6400

[hammad101]

NOw Since USA Credit rating has been downgraded from AAA to AA+ this will be major factor guiding currencies on Monday It could be another volatile day where currencies can trade direction less

[hammad101]

QuoteOriginally Posted by fravash View Post
EU have been on 1.4300 for sometime now, is there still any opportunity to take long position ? since it looks like a sideways in my chart, in my opinion it will be key level, if they able to comfortably break that level then i will go for the bull side

EU looks weak on daily and weekly chart thus long positon is advisable only at 1.4013 that will be good level to enter for long term

QuoteOriginally Posted by Raja Krsnan View Post
EUR/USD's slide has been continuing for almost a week now. Dollar now seems to be getting stronger, but for how long. for now the tide is in favor of the USD. so its better to ride that wave and make money.
But USD rise can be curtailed today by NFP data if that data comes in weak dollar will run out of gas
Last edited by Anytime; 08-05-2011 at 11:33 AM.

[hammad101]

EUR/USD's slide has been continuing for almost a week now. Dollar now seems to be getting stronger, but for how long. for now the tide is in favor of the USD. so its better to ride that wave and make money.

[hammad101]

EU have been on 1.4300 for sometime now, is there still any opportunity to take long position ? since it looks like a sideways in my chart, in my opinion it will be key level, if they able to comfortably break that level then i will go for the bull side

[hammad101]

GBP USD is having minor resistance at 1.6155 i.e 55 EMA on daily chart. Break through this can easily take it to 100 SMA 1.6255

@Oracle Your Pivot point pf 1.6115 is also facing this minor ema resistance.