Technical Analysis From Tradingforex.com

Technical Analysis 31 Dec 2012



USD-CHF @ 0.9145/48...Ranged
R: 0.9180-200 / 0.9260 /
S: 0.9090 / 0.9000
Dollar-Swiss traded in the 0.9180-0.9080 range for the whole week, though the expectation was that it will rise further. In the coming weeks there is still a possibility of it rising towards 0.9260 if it breaks the 0.9080-180 range on the upside. Having said that the bigger trend remains bearish and we expect it to eventually move lower towards 0.9000. It has bounced back from the support on the monthly charts at 0.9090 which needs to be broken for a dip lower. We will have to wait and watch to see which side the range breaks. But if a rise to 0.9260 is seen it would be a selling opportunity with tight stop.



GBP-USD @ 1.6152/55...Relatively strong can rise while above 1.6100
R: 1.6160 / 1.6200-15 / 1.6245 /1.6300
S: 1.6100-80 / 1.6015-00 /

Cable traded in the tight 1.6200-6070 range for the week, it was looking like a dip to 1.6000 will be seen but it found good support near 1.6100 levels on daily closing basis and managed to close above it on every test of the support. The longer term out look on cable is bullish and a strong rise towards 1.6300-400 can be seen. In the coming week we can see Cable breaking its 1.6200 resistance and move up towards 1.6300 and then towards 1.6400 later. On the down side 1.6100-6080 continues to give good support to the pair. A dip to 1.6000 can only be seen if this immediate support is broken and such dips can be considered for taking Long positions.




AUD-USD @ 1.0383/86...Weak
R: 1.0400 / 1.0435 / 1.0465
S: 1.0345-40 / 1.0280 / 1.0150
Aussie through the week traded in the tight 1.0400-345 range after it turned down from its highs early December. The expectations are that bearish in the medium term as we are looking for a dip and a fall towards 1.0280 and then to 1.0150 in the coming days. Now there is a possibility of a bounce to 1.0435-60 before this dip take place. Now whether we see a dip or a bounce will depend up which side the range breaks. The weekly candle is weak and I would be slightly in favor of it breaking on the down side from here it self.
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EUR/USD Current price: 1.3140
Resistance via the 1.3300 psychological figure remains a formidable barrier for any short term upside in EURUSD. Failure to close above the level in the near term would precipitate a decline to 1.3100 round figure support.

Support Levels 1.3129 1.3071 1.2985

Resistance Levels 1.3273 1.3359 1.3417


GBP/USD Current price: 1.6222
Although rising through the 1.6200 round figure, GBPUSD upside potential has now thinned out ahead of resistance at 1.6300. Failure to rise above the psychological barrier would prompt a retest of support at 1.6172.

Support Levels 1.6193 1.6130 1.6035

Resistance Levels 1.6351 1.6446 1.6509


USD/JPY Current price: 87.22
USDJPY momentum continued to propel the major pair through resistance at 87.00. The close above the psychological figure opens scope for a test of 88.00 handle resistance. Any near term correction will be temporary and target the 86.17 figure.

Support Levels 86.72 86.21 85.89

Resistance Levels 87.55 87.87 88.38


AUD/USD Current price: 1.0481
Closing above resistance at 1.0481, AUDUSD upside potential remains intact. Subsequently, the upward violation opens scope for an advance on the 1.0573 December 17th high resistance. Any retracement will be buoyed by near term 1.0416 support.

Support Levels 1.0406 1.0314 1.0254

Resistance Levels 1.0558 1.0618 1.0710
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EUR/USD Current Trading: 1.3023
EUR/USD took support at 1.3119, EUR/USD look to set another lower trend , support at 12988 . Further penetration through the support barrier would prompt a test of 1.2892. Expect any retracement to be held at bay by the 1.3200 psychological figure.

Support Levels 1.2855 1.2951 1.3001

Resistance Levels 1.3147 1.3243 1.3293


GBP/USD Current Trading: 1.6068
Breaking support at 1.6163, GBPUSD continues to fall lower As a result, support at 1.6018 is being eyed as the next viable support test. Any correction higher will be met with resistance at 1.6200.
Support Levels 1.5879 1.5986 1.6045

Resistance Levels 1.6211 1.6318 1.6377


USD/JPY Current Trading: 87.74
Broken the resistance at 85.53 , USD/JPY continues to move up , A hanging man has emerged ahead of 88 handle resistance in USDJPY. The barrier should act as impetus for a move lower in the pair, towards initial support at 86.25.

Support Levels 86.23 86.50 86.85

Resistance Levels 87.47 87.74 88.09


AUD/USD Current Trading: 1.0439

Breaking support at 1.0475 , AUDUSD continues to fall down , failed to close at 1.0500 round figure resistance, lending to the session’s decline. Additional declines are anticipated towards support via the 1.0403 figure, which is being reinforced by 1.0350 support.

Support Levels 1.0369 1.0415 1.0440

Resistance Levels 1.0511 1.0557 1.0582
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EUR/USD Current Trading price: 1.3040
EUR/USD took Support at 1.3021 on Friday, but has since traded down around 40 pips into the 1.3040 area However, with resistance just above 1.3140, the momentum is likely temporary. Further declines are contingent on a break of the 1.3021 figure.
Support levels: 1.3040 1.3000 1.2970

Resistance levels: 1.3090 1.3120 1.3145
GBP/USD Current Trading price: 1.6042

GBPUSD testing support round 1.6000 , GBPUSD bounced back , closing above support 1.6067 , However, price action remains below 1.6137, keeping the bearish bias intact. Expect a retest of the formidable round figure.

Support levels: 1.6025 1.5985 1.5930

Resistance levels: 1.6085 1.6120 1.6170

USD/JPY Current Trading price: 87.84
Usd jpy on firday closed near above 88.00 resistance .opening scope for usdjp higher towards resistance at 89.00 . Any retracement in the near term will likely target initial support at 87.15, before declining to 86.16 support.

Support levels: 88.00 87.60 87.30 8

Resistance levels: 88.40 88.70 89.00

AUD/USD: Current price: 1.0480
AUDUSD remains atop support at 1.0450, keeping bullish momentum intact, albeit for the moment. Any upside momentum will see formidable resistance tests at the December 14th session high.

Support levels: 1.0470 1.0430 1.0400

Resistance levels: 1.0525 1.0550 1.0600
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EUR/USD Current Trading at : 1.31078
EUR/USD took support via 1.3040 . EUR/USD has set to make room to advance towards 1.3200 . Supportive of the notion is the close above the yesterday’s 1.3089 session high. Any retracement is likely to see stiff support at 1.3052.

Support Levels 1.2943 1.2980 1.3047

Resistance Levels 1.3151 1.3188 1.3255

GBP/USD Current Trading at : 1.6082
Taking Support via 1.6065 GBPUSD closed above the 1.6100 . looks like GBPUSD set to make big move to 1.6200 , en route to a 1.6300 round figure test. Any converse retracement will be met by formidable support via the 1.6065 figure.

Support Levels 1.5952 1.5986 1.6051

Resistance Levels 1.6150 1.6184 1.6249

USD/JPY Current Trading at : 87.44
USD/JPY failed to close at 88.00 resistance . , USDJPY looks set for another leg lower amid fundamental drivers. As a result, a retracement to 86.75 support isn’t all too far from plausible. Upside momentum should be held at bay by 88.25.
Support Levels 86.70 87.16 87.46

Resistance Levels 88.21 88.67 88.97

AUD/USD Current Trading at : 1.0475
Stalling ahead of 1.0525 resistance, AUDUSD looks set to continue higher towards the resistance at 1.0560. The barrier is being reinforced by 1.0600 round figure resistance, which should act as a turning point for bulls. Near term downside remains minimized by the 1.0425 figure.

Support Levels 1.0421 1.0442 1.0473

Resistance Levels 1.0525 1.0546 1.0577
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EUR/USD pair has continued its decline reaching 1.3100 below psychological figure. It is expected to fall even further and reach support at 1.3000 round figure. A retracement would find hard resistance at the 1.3161 figure.

Support Levels 1.2974 1.3006 1.3032

Resistance Levels 1.3090 1.3122 1.3148

GBP/USD Expectations of the GBP/USD pair falling below the 1.6000 round figure have been boosted as the pair ended its session under 1.6050. the 1.5960 figure will be the pairs next support figure. The pair now depends on a break of the 1.6100 resistance barrier.
Support Levels 1.5903 1.5948 1.5985

Resistance Levels 1.6067 1.6112 1.6149

The only remaining option for improving the USD/JPY pair is a violation of the 88 round figure. The pair closed below the 88.00 round figure resistance barrier, raising expectation of a decline to 86.00 in the hear future.
Support Levels 86.10 86.51 87.26

Resistance Levels 88.42 88.83 89.58

AUD/USD pair is now facing expectations of a further decline to 1.0400 support in the near future, while the pair currently struggles to avoid resistance by the 1.0531 figure, which is forcing the major currencies to merge for the fourth straight session.
Support Levels 1.0438 1.0462 1.0486

Resistance Levels 1.0534 1.0558 1.0582
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EUR/USD pair I expected to get higher to 1.33000 psychological resistance, after close at 1.3157 resistance. The pair’s 1.3307 session on the 19th of December which reinforced the barrier, it looks difficult for the level to be reached, and any opposite correction would aim the 1.3165 barrier.
Support Levels 1.2882 1.2960 1.3111

Resistance Levels 1.3340 1.3418 1.3569

GBP/USD pair is still expected to do well, after closing at 1.6129 above resistance. With its 1.6200 psychological barrier it is not unlikely that the pair would push higher to 1.6266 resistance. Any declines will probably be restricted by support at 1.6100.
Support Levels 1.5885 1.5945 1.6051

Resistance Levels 1.6217 1.6277 1.6383

USD/JPY pair has penetrated the 88.00 round figure barrier, and is expected to move forward to resistance at 89.25 level. If they however do not break the figure they are likely to decline to initial support at 87.34.
Support Levels 87.11 87.48 88.07

Resistance Levels 89.02 89.39 89.98

AUD/USD pair have broken above the resistance barrier at 1.0575, and will now be retested at the 1.0600 psychological figure. Its high level of 1.0624 on the 14th of September continues to reinforce the level, however any retracement would test the 1.0500 figure.
Support Levels 1.0415 1.0454 1.0524

Resistance Levels 1.0633 1.0672 1.0742
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The EUR/USD pair closed above 1.3292 resistance, and is expected to aim higher in the near term, at around 1.3400. the pair would be tested with 1.3107 if further downside penetration of the support figure occurs. A retracement would probably call for formidable support from the 1.3246 figure.
Support levels: 1.3325 1.3290 1.3240

Resistance levels: 1.3370 1.3405 1.3450

A decline on the 1.6100 session was caused when the GBP/USD pair closed below the 1.6168 resistance barrier. It is expected for the pair to move back towards 1.6200 since it has not moved any lower yet.
Support levels: 1.6100 1.6065 1.6020

Resistance levels: 1.6170 1.6200 1.6240

Expectations for the USD/JPY pair to gain an extension higher towards 100 are even bigger as the pair rose above the 89.00 resistance barrier. A corrections would possibly lead to support by the 87.92 level, or the 87 barrier.
Support levels: 89.35 89.00 88.70 8

Resistance levels: 89.65 90.00 90.30

The AUD/USD pair spiralled down to 1.0500 support, as it failed to close above the 1.0600 round figure. It is expected that the pair will gain an extension through until 1.0456 support, since their low close broke the 1.0563 support figure key to any chance of moving upward again.
Support levels: 1.0520 1.0490 1.0460

Resistance levels: 10550 1.0600 1.0660
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The EUR/USD pair found its self at a drop through near term support by the 1.3350 figure. Expectations are that the pair well fall further until it reaches the 1.3200 psychological support. Difficult resistance will await at the 1.3400 round figure if there is any retracement higher.
Support Levels 1.3118 1.3190 1.3250
Resistance Levels 1.3382 1.3454 1.3514
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The GBP/USD pair stalled right after 1.6035, after moving through the break of 1.6100 support. It is still expected for the figure to fall towards 1.5991 support. Barriers at 1.6116 would be seen if a positive correction happened.
Support Levels 1.6033 1.5999 1.5965
Resistance Levels 1.6101 1.6135 1.6169
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The USD/JPY pair fell through the 89.00 handle, without passing the 90 handle resistance. It is expected that the pair will suffer more decline, and reach the support by the 88.00 figure. If the pair declines even further, it could expect to reach the 86.97 barrier.
Support Levels 88.20 87.56 86.83
Resistance Levels 89.56 90.29 90.93
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The AUD/USD pair may be facing a fall to support at 1.0503 in the near term, after failing to move positively on the 1.0600 round figure during its session.
Support Levels 1.0534 1.0506 1.0487
Resistance Levels 1.0581 1.0600 1.0628

Technical Analysis 17 Jan 2013
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EURUSD established support at 1.3265, disposal to a bout of consolidation on the session. Any face corrections at now can target resistance at the 1.3403 Jan ordinal session high. Declines towards 1.3140 support stay break in to an opening of current support.
Support Levels 1.3185 1.3221 1.3255
Resistance Levels 1.3325 1.3361 1.3395
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Falling on the session, GBPUSD is currently testing support via the 1.6000 psychological figure. an additional shut below would precipitate a decline to 1.5928. Any converse retracement ought to see formidable resistance at 1.6100.
Support Levels 1.5851 1.5913 1.5958
Resistance Levels 1.6065 1.6127 1.6172
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USDJPY control a bearish tone on the session, dipping to a low of 87.79. However, the pair has closed higher than the 88.29 support, disposition to some upper side potential. buyers can possible see hard resistance at 89.47.
Support Levels 86.75 87.27 87.85
Resistance Levels 88.96 89.48 90.06
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Stalling on the session, AUDUSD didn't create a positive move the 1.0600 spherical figure. The failure to advance on the barrier is likely to prompt the major currency to dip to initial support at 1.0503 within the close to term.
Support Levels 1.0490 1.0511 1.0541
Resistance Levels 1.0592 1.0613 1.0643