ForexInfoCenter

Technical points for today

Posted by ForexInfoCenter in July 4th 2008  

Eur/usd is fighting the first resistance level right now, around 1.5720/30. Above that zone, the correction suggested by indicators will be under way, with next resistances levels at 1.5770, and finally the zone around 1.5810 61.8% retracement of yestarday’s fall. Supports from here, will be at 1.5675, yesterday’s minimum, that if broken could trigger a bearish rally to the zone around 1.5645 and finally 1.5610.

GBP/usd needs to confirm under 1.9800 to continue falling, at least to the zone around 1.9771, followed by 1.9725 and finally 1.9688. The pair could gain upside momentum above 1.9848, first to the zone around 1.9890 and finally to 1.9920.

Usd/Chf is the one more decided to confirm a correction that will take place under first support for today, 1.0225, targetting the zone around 1.0200 and finally 1.0168. Resistances from here will be at 1.0280, followed by the zone around 1.0304 and finally 1.0340.

Usd/Jpy has been moving sideways in aquite tight range since yesterday’s fundamentals, so indicators are not really telling that much. Above 106.93, yesterday’s maximum, the pair will run to the zone around 107.20 and finally to 107.58. Under 106.55, we could see a recovery of the Japanese currencY first to 106.25 and finally to the zone around 105.90.

Have a great trading day!

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Filed under: Forex Advisor