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发表于 2008-5-23 10:20
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Weekly Technical Outlook on EUR/USD
Updating time : 29/04/2008 00:08 GMT
EUR/USD - 1.5657...Trading the single currency y'day proved to be 'tricky' as the choppy price action has whipped both intra-day & day traders. Although price fell fm European morning high of 1.5682 to 1.5614, euro later than staged another strg rebound to an intra-day high of 1.5894 b4 dropping sharply to 1.5596 in NY morning, however, lack of further follow through helped price to stage another bounce to 1.5662/64 in late NY session.
Looking at the hourly chart, as the price action fm Friday's low at 1.5555 looks 'corrective', suggesting once current choppy consolidation is over, the
decline fm last week's record high of 1.6020 shud resume, a subsequent breach of near term sup area at 1.5584/96 wud signal such move has taken place n euro shud head twd daily chart obj. at 1.5510, however, as the hourly oscillators wud display prominent bullish convergences on such a move, further steep fall is not envisaged n reckon 1.5462 (50% proj. of 1.6020-1.5555 measured fm 1.5694) wud contain weakness. On the upside, abv 1.5694 wud risk marginal gain n only break of 1.5773 wud risk stronger retracement of aforesaid decline twd 1.5830/40...
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Daily Technical Outlook on USD/CHF
Updating time : 30/04/2008 00:52 GMT
USD/CHF - 1.0380... Although price fell sharply fm y'day's high at 1.0400 in tandem with dlr's broad-based strg retreat in NY morning, as renewed buying at 1.0316 has lifted the greenback, suggesting as long as this intra-day sup holds, recent upmove is expected to resume, a rise abv 1.0400 wud confirm this nr term bullish scenario n yield a re-test of last week's high at 1.0431. Having said that, as the hourly oscillators' readings wud be displaying prominent 'bearish divergences' on such a move, further strg gain is therefore not envisaged n reckon upside wud falter well below 1.0490, being an equality proj. of the major rise fm 08' low at 0.9630 to 1.0250 measured fm 0.9870 n risk is seen for a strg retracement of recent upmove later this week.
In view of abv analysis, so whilst buying dlr on dips is favoured for a resumption of upmove, profit must be taken on subsequent rise. On the downside, in the event price fails to re-test 1.0431 n drops below 1.0299, then risk is seen for a correction of the early rise fm 0.9997, yield decline to 1.0265 but reckon 1.0214 (50% r) wud contain weakness n bring choppy consolidation...
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