GBPUSD continues its downward movement from 1.5997 and the fall extended to as low as 1.5296 level. Key resistance is now at 1.5488, as long as this level holds, downtrend is expected to continue and next target would be at 1.5200 area. However, a break above 1.5488 key resistance will indicate that the downtrend from 1.5997 has terminated, then the following upward move could bring price to 1.5600-1.5700 area.
Daily Forex Forecast
Daily Forex Forecast
Filed under Latest FX Articles · Tagged with downward movement, move, resistance, target, upward move
INTRA-DAY EUR/USD OUTLOOK
Last Update At 07 Sep 2010 06:08 GMT
Rate : 1.2785
Although euro has recovered after intra-day
selloff to 1.2786 n sideways trading wud be seen, reckon 1.2845/48 shud cap upside n yield resumption of fall fm y'day's high of 1.2920 to 1.2776, break confirms correction fm 1.2588 is over, 1.2744.
Sell on recovery with stop as indicated, break
wud risk stronger rebound but 1.2867 wud hold.
Range Forecast
1.2786 / 1.2825
Resistance/Support
R: 1.2856/1.2867/1.2898
S: 1.2786/1.2776/1.2744
http://www.acetraderfx.com
Last Update At 07 Sep 2010 06:08 GMT
Rate : 1.2785
Although euro has recovered after intra-day
selloff to 1.2786 n sideways trading wud be seen, reckon 1.2845/48 shud cap upside n yield resumption of fall fm y'day's high of 1.2920 to 1.2776, break confirms correction fm 1.2588 is over, 1.2744.
Sell on recovery with stop as indicated, break
wud risk stronger rebound but 1.2867 wud hold.
Range Forecast
1.2786 / 1.2825
Resistance/Support
R: 1.2856/1.2867/1.2898
S: 1.2786/1.2776/1.2744
http://www.acetraderfx.com
INTRA-DAY EUR/USD OUTLOOK
Last Update At 06 Sep 2010 04:29 GMT
Rate : 1.2898
Although euro has edged higher after intra-day
brief pullback fm 1.2904 (NZ) to 1.2871, as long as said minor top holds, further range-trading is seen b4 recent erratic rise extend twd res at 1.2923 but loss of momentum wud limit gain to 1.2935/40.
Buy on dips for 1.2905 or sell if price climbs
to 1.2920 1st for another retreat to 1.2885.
Range Forecast
1.2875 / 1.2904
Resistance/Support
R: 1.2904/1.2923/1.2961
S: 1.2871/1.2856/1.2808
http://www.acetraderfx.com
Last Update At 06 Sep 2010 04:29 GMT
Rate : 1.2898
Although euro has edged higher after intra-day
brief pullback fm 1.2904 (NZ) to 1.2871, as long as said minor top holds, further range-trading is seen b4 recent erratic rise extend twd res at 1.2923 but loss of momentum wud limit gain to 1.2935/40.
Buy on dips for 1.2905 or sell if price climbs
to 1.2920 1st for another retreat to 1.2885.
Range Forecast
1.2875 / 1.2904
Resistance/Support
R: 1.2904/1.2923/1.2961
S: 1.2871/1.2856/1.2808
http://www.acetraderfx.com
GBPUSD remains in downtrend from 1.5997 and the fall extended to as low as 1.5326. Resistance is at 1.5597, as long as this level holds, downward move is expected to continue and next target would be at 1.5200 area. However, a break above 1.5597 will indicate that a cycle bottom has been formed on daily chart and the fall from 1.5997 has completed at 1.5326 already, then the following upward movement could bring price back to 1.5700-1.5800 area.
For long term analysis, GBPUSD is in uptrend from 1.4230. Rise to 1.8000 area to reach next cycle top on weekly chart is expected in next several weeks.
Weekly Forex Analysis
For long term analysis, GBPUSD is in uptrend from 1.4230. Rise to 1.8000 area to reach next cycle top on weekly chart is expected in next several weeks.
Weekly Forex Analysis
INTRA-DAY EUR/USD OUTLOOK
Last Update At 02 Sep 2010 06:35 GMT
Rate : 1.2815
Euro's retreat fm y'day's high of 1.2856 sug-
gests consolidation with mild downside bias wud be seen, however, as long as 1.2780 (prev. res) holds, a rebound is still likely but abv said res needed to signal rise fm 1.2588 has resumed, 1.2890/00.
Remain as cautious buyer n only below 1.2744 wud signal upmove fm 1.2588 has formed a top y'day.
Range Forecast
1.2790 / 1.2814
Resistance/Support
R: 1.2814/1.2856/1.2890
S: 1.2780/1.2765/1.2744
http://www.acetraderfx.com
Last Update At 02 Sep 2010 06:35 GMT
Rate : 1.2815
Euro's retreat fm y'day's high of 1.2856 sug-
gests consolidation with mild downside bias wud be seen, however, as long as 1.2780 (prev. res) holds, a rebound is still likely but abv said res needed to signal rise fm 1.2588 has resumed, 1.2890/00.
Remain as cautious buyer n only below 1.2744 wud signal upmove fm 1.2588 has formed a top y'day.
Range Forecast
1.2790 / 1.2814
Resistance/Support
R: 1.2814/1.2856/1.2890
S: 1.2780/1.2765/1.2744
http://www.acetraderfx.com
