FOREX Technical Analysis 14. July 2011

FOREX Technical Analysis 14. July 2011

FX Forex Market Technical Analysis:

Forex Trading Technical Analysis for the 14. July 2011

Technical Analysis for the following Currencies:

EUR/USD, USD /CAD, USD/JPY, AUD/USD, GBP/USD, EUR/JPY, EUR/CHF

All Data are 5:30 am + 2 GMT

EUR / USD during the day: the upward movement will prevail.
Fulcrum (devaluation level): 1,411
We prefer: buy positions in 1412, with price targets at 1.4285 and 1.4375.
Alternative scenario: in 1411 we expect further downward movements with 1405 & 1.3975 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.

USD / CAD in the course of the day: Target 0.9515.
Fulcrum (devaluation level): 0.9665
We prefer: short positions at 0.9665 with expanded course objectives at 0.9515 & 0956.
Alternative scenario: above 0.9665, we expect further upside movements with 0967 & 0971 as price targets.
Technical Analysis Comment: the RSI argues for a further downward movement.

USD / JPY during the day: capped by a negative trend line.
Fulcrum (devaluation level): 79.15
We prefer: sales positions at 79.1 with price targets on 78.5 & 78.2.
Alternative scenario: about 79.15, we expect further upside movements with 79.5 & 79.9 as price targets.
Technical Analysis Comment: the RSI lacks upward momentum.

AUD / USD intraday: on towards 1.0855.
Fulcrum (devaluation level): 1.0675
We prefer: long positions of 1.0675 with targets at 1.0855 and advanced courses 1089.
Alternative scenario: below 1.0675, we expect further downward movements with 1.0625 & 1.0575 as price targets.
Technical analysis commentary: although a continuation of the consolidation can not be excluded, should be limited in its scope.

GBP / USD during the day: the upward movement will prevail.
Fulcrum (devaluation level): 1.6075
We prefer: buy positions at 1.6085 with price targets at 1.62 and 1.6225.
Alternative scenario: below 1.6075, we expect further downward movements of 1603 and 1.6 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.

EUR / JPY intraday: for support during the day around 111.2.
Fulcrum (devaluation level): 111.2
We prefer: buy positions at 111.27 with 112.65 and price targets on 113th
Alternative scenario: below 111.2, we expect further downward movements with 110.75 & 110.25 as price targets.
Technical Analysis Comment: the RSI is mixed to bullish.