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EURUSD Forecast:
The EURUSD had a significant bearish momentum yesterday, break below the bullish channel indicating potential bullish failure testing 1.3530 area even 1.3450/30 key support level. The bias is bearish in nearest term however note that the bullish reversal scenario triggered by the triple bottom formation technically still provide technical bullish scenario. Only a break below 1.3450/35 area could be seen as “the real” bullish failure targeting 1.3100 area. Immediate resistance at 1.3670 area. Break above that area should trigger further bullish momentum re-testing 1.3800/50 region.



GBPUSD Forecast:
The GBPUSD failed to continue its bullish ...

[B]Bias:[/B] I think we'll get a bounce - the uncertainty is whether this will occur directly or after one more dip.

We have an hourly bullish divergence here while 4-hour is oversold. I can't make up my mind whether we'll see a direct recovery or will need to see a dip to the 122.11-33 or even 121.66-88 areas before the recovery. Resistance is currently at 123.41 and while that caps the additional extension lower can be seen. If we see a move down to 121.66-88 first look for a bullish trade set up. Alternatively a direct break above 123.41 should see a retest of the 123.73-95 area. A move above this resistance zone would encourage follow-through to 124.54 and potentially the 125.06-23 highs.

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Attached Files

• The Brief Daily Forecaster.pdf (76.7 KB, 110 次查看)

USDCHF broke above 1.0639 resistance, suggesting that a cycle bottom has been formed at 1.0506 level on 4-hour chart. Sideways movement above 1.0506 is expected in a couple of days. Key resistance is now at the falling price channel on 4-hour chart. As long as the channel resistance holds, one more fall towards 1.0450 is possible. However, a clear break above the channel resistance will indicate that the fall from 1.0898 has completed, then the following uptrend could take price back to re-test 1.0898 resistance.



Daily Forex Forecast

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.3612

Late Update At 18 Mar 2010 23:33 GMT

Euro is expected to move sideways initially in
Asia after y'day's selloff to 1.3586 in NY n as
long as 1.3633 holds, marginal fall to 1.3575 is
likely b4 prospect of staging a rebound due to near term loss of momentum but 1.3660/70 wud cap upside.


Buy on next fall for 1.3615 n if euro recovers
to 1.3660 1st, sell for decline to 1.3620.


Range Forecast
1.3600 / 1.3630


Resistance/Support
R: 1.3648/1.3696/1.3726
S: 1.3586/1.3530/1.3484

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