Posts Tagged ‘support’

The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.4000

Overview - Daily trend has been pressing higher since the beginning of 2011. However, previous congestion viewed on the weekly chart between 1.3950 and 1.4100 in 2008, 2009 and 2010 is providing a range of resistance that could eventually indicate a reversal zone. As long as this pair holds under 1.4100 I will be watching for technical indications of reversal.

Resistance - 1.4085 / 1.4150 / 1.4225 / 1.4290

Support - 1.3900 / 1.3860 / 1.3825 / 1.3760

*************************************************************************************

GBP/USD – Current 1.6175

Overview – Weekly resistance viewed in the mid to upper (more…)

The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3665

Overview - Last week we saw a push back to the 1.3700 area capping just under the previous weeks high. As long as it continues to hold under 1.3740 will be looking for the potential return back down to 1.3400. A push through 1.3740 will retest the 1.3850’s then back to 1.4000.

Resistance - 1.3708 / 1.3740 / 1.3790 / 1.3824 / 1.3858

Support - 1.3640 / 1.3620 / 1.3574 / 1.3547 / 1.3500 / 1.3460

*************************************************************************************

GBP/USD – Current 1.6216

Overview – I have been watching the test of the top of (more…)