Forex Research

Daily Technical Analysis
Posted: 11/6/2009 8:28:21 AM



Currency Pair Daily Momentum 4-Hour Momentum 1-Hour Momentum Support Resistance Comments
EUR/USD 1.4840
1.4800
1.4740		 1.4890
1.4930
1.4980		 1327GMT above 1.4920/30 may see return to recent highs, below 1.4840/50 suggests move up is over, initial potential to 1.4780/4800
GBP/USD 1.6590
1.6550
1.6500		 1.6640
1.6670
1.6700		 0815GMT upside bias while above 21 hour sma at 1.6590 but needs to break through resistance at 1.6640 to push higher. Below 1.6590 may see 1.6550.
USD/JPY 90.45
90.20
89.70		 90.60
90.85
91.10		 0818GMT below cloud bottom, 200 hour sma at 90.75 and 21/55 hour smas at 90.60 suggests bias lower. Below 100 hour sma at 90.40 may see 90.20.
USD/CHF 1.0150
1.0100
1.0070		 1.0160
1.0190
1.0220		 0829GMT the 1.0140/50 area is offering strong support but needs to climb back above 21 hour sma at 1.160 to confirm bias higher.
AUD/USD 0.9130
0.9110
0.9070		 0.9180
0.9220
0.9300		 0832GMT immediate upside bias while above 21 hour sma at 0.9110 and trenline at 0.9130, above resistannce at 0.9180 may see to 0.9220.
USD/CAD 1.0615
1.0540
1.0500		 1.0650
1.0700
1.0750		 0839GMT the 1.0615/20 area is a 38.2% retracement of the 1.0205 to 1.0870 recent move higher, below opens to 1.0540/35 and 1.0500 next
EUR/JPY 134.40
133.50
132.90		 134.80
135.20
135.70		 0843GMT 55 hour sma offering short term support but downside bias in play while below 21 hour sma at 134.80. Above 135.20 may see higher.
NZD/USD 0.7255
0.7120
0.7170		 0.7310
0.7340
0.7370		 0846GMT break above 200 hour sma strengthens upside bias towards 0.7310 initially above may see to 0.7340 next.
EUR/GBP 0.8950
0.8930
0.8910		 0.8965
0.8990
0.9030		 0850GMT possible longer-term base forming above 0.8900/20, bias up while above 0.8950, but needs to break 0.8965 21/55 hr smas to strengthen potential.
AUD/JPY 82.90
82.60
82.30		 83.20
83.50
84.00		 0857GMT break above trendline resistance near 82.90 opens potential towards 83.50 initially, weakness below 21 hour sma at 82.60
GBP/JPY 150.40
150.00
149.50		 150.70
151.00
151.40		 0901GMT sideways but bias higher while above 21 hour sma at 150.40. Above 150.70 may see 151.00. Weakness below 150.00.
CAD/JPY 85.10
84.70
84.30		 85.50
85.80
86.40		 0905GMT upside bias while above 21/55 hour smas at 85.10 towards 85.50 initially, the 85.80 resistance area is still very important

- 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.