An flat correction may be complete in the NZDUSD from 6804. Favor the downside against 7107. 7020/50 is potential resistance.
Filed under Forex and Currency Trading News, Latest FX Articles · Tagged with Dollar, Downside, New Zealand Dollar, nzdusd, resistance
Inflation expectatives, helped Pound to gain some ground, and is now consolidating around daily highs. 4 hours charts look pretty bullish at this point thus as expected, 1.5060 resistance area is keeping the upside capped. Pair could now pullback to the 1.5000/10 area, yet as long as those levels hold, a new upside rally is likely. Above mentioned 1.5060, pair should adress to 1.5100 and above 1.5130; however if 1.5000 gives up next zones in line come at strong 1.4940 and 1.4900.
INTRA-DAY GBP/USD: 1.4955
Last Update At 11 Mar 2010 06:52 GMT
Despite intra-day rebound fm 1.4949 to 1.4988 in Asian trading, failure to re-test y'day's 1.4993
high (NY) suggests further sideways move wud continue but as long as 1.4928 (reaction low) holds, corrective rise fm 1.4873 wud head twd 1.5017 later.
For st trade, buy cable on dips with stop below
said sup, break may risk weakness to 1.4900/05.
Range Forecast
1.4955 / 1.4985
Resistance/Support
R: 1.4993/1.5017/1.5031
S: 1.4928/1.4900/1.4873
http://www.acetraderfx.com
Last Update At 11 Mar 2010 06:52 GMT
Despite intra-day rebound fm 1.4949 to 1.4988 in Asian trading, failure to re-test y'day's 1.4993
high (NY) suggests further sideways move wud continue but as long as 1.4928 (reaction low) holds, corrective rise fm 1.4873 wud head twd 1.5017 later.
For st trade, buy cable on dips with stop below
said sup, break may risk weakness to 1.4900/05.
Range Forecast
1.4955 / 1.4985
Resistance/Support
R: 1.4993/1.5017/1.5031
S: 1.4928/1.4900/1.4873
http://www.acetraderfx.com
INTRA-DAY GBP/USD: 1.4960
Last Update At 11 Mar 2010 02:08 GMT
Despite early retreat fm 1.4993 to 1.4928 in NY
session, subsequent rebound suggests cable's corrective rise fm y'day's 1.4873 low wud resume after initial consolidation in Asia n yield further headway to 1.5000 but reckon 1.5017 wud cap upside.
For st trade, buy cable again on dips for this
move n only below 1.4928 may risk re-test of 1.4873
Range Forecast
1.4950 / 1.4985
Resistance/Support
R: 1.4993/1.5017/1.5031
S: 1.4928/1.4900/1.4873
http://www.acetraderfx.com
Last Update At 11 Mar 2010 02:08 GMT
Despite early retreat fm 1.4993 to 1.4928 in NY
session, subsequent rebound suggests cable's corrective rise fm y'day's 1.4873 low wud resume after initial consolidation in Asia n yield further headway to 1.5000 but reckon 1.5017 wud cap upside.
For st trade, buy cable again on dips for this
move n only below 1.4928 may risk re-test of 1.4873
Range Forecast
1.4950 / 1.4985
Resistance/Support
R: 1.4993/1.5017/1.5031
S: 1.4928/1.4900/1.4873
http://www.acetraderfx.com
Upside potential remains for the CAD/JPY with a possible test of Fibonacci resistance, which is why the strategy is looking to take advantage of a potential retracement. The current bullish trend for the pair has been driven by continued demand for risky assets.
