Forex Research

Daily Technical Analysis
Posted: 11/20/2009 4:14:58 AM



Currency Pair Daily Momentum 4-Hour Momentum 1-Hour Momentum Support Resistance Comments
EUR/USD 1.4900
1.4875
1.4850		 1.4930
1.4980
1.5030		 0811GMT 21 hour sma at 1.4900 containing downside, upside potential while above towards 1.4930 resistance above may see 1.4980.
GBP/USD 1.6615
1.6560
1.6515		 1.6640
1.6700
1.6790		 0820GMT up-trendline near 1.6615 offering good support but downside bias while below 1.6590. Above 1.6640 may see up to 1.6700.
USD/JPY 88.60
88.10
87.10		 88.90
89.20
89.50		 0830GMT still in an hourly down-channel between 88.50 and 89.40, the pivot is near the 21 hour sma at 88.90 at the moment
USD/CHF 1.0120
1.0090
1.0060		 1.0145
1.0190
1.0210		 0834GMT sideways, needs to break above 21 hr sma at 1.0145 to put upside bias towards 1.0190 in play, below 1.0120 may see down to 1.0090.
AUD/USD 0.9150
0.9125
0.9100		 0.9180
0.9220
0.9250		 0844GMT recent spill found support near 0.9130, sideways but downside bias while below 21 hour sma at 0.9180, below 0.9125/30 may see lower.
USD/CAD 1.0640
1.0590
1.0530		 1.0670
1.0695
1.0730		 0848GMT broke hourly trendline by 1.0610, upside bias strengthened by break above 1.0640 21 hr sma but strong resistance by 1.0690/95 recent high
EUR/JPY 132.20
131.70
131.00		 132.45
132.90
133.50		 0853GMT 132.20 has contained downside but needs to break above 132.45 21 hour sma to put upside bias in play, good resistance at 132.90.
NZD/USD 0.7300
0.7270
0.7200		 0.7330
0.7370
0.7410		 0855GMT sidways but bias higher above 21 hour sma at 0.7300 above 0.7330 opens to 0.7370 and 0.7410 next, below 0.7200 may see lower.
EUR/GBP 0.8950
0.8925
0.8900		 0.8980
0.9015
0.9070		 0857GMT upside in focus while above the 200hr and 21 hr smas near 0.8940/50, the week highs by 0.8980 should be formidable resistance
AUD/JPY 81.40
81.00
80.30		 81.60
82.00
82.60		 0859GMT nice bounce off the lows near 81.00 but downside in focus while below 21 hour sma at 81.60, needs above 82.00 to extend upside further
GBP/JPY 147.00
146.40
146.00		 147.90
148.30
148.80		 0909GMT downside bias in play below trendline support, now resistance, at 148.00 and 21 hour sma at 147.90. Below 147.00 may see 146.40.
CAD/JPY 83.25
83.00
82.40		 83.50
84.75
85.20		 0913GMT sharp bounce from the lows by 83.00 but downside bias still in play while below 21 hour sma at 83.50 towards 83.25 initially.

- Optimal phase to initiate position with arrow - Cycle mature, protect profits
- Cycle extreme, t/p, plan for new cycle - Hold Cycle in direction of arrow

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- indicate that momentum is positive and moving higher, usually signs of higher prices ahead
- indicate negative and falling momentum, typically implying lower prices in the future
Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.