Overall the EUR/USD but neutral bias as shown in graph 1 hour we also got oversold signals from slow stochastics are menendakan potential bullish in the short-term bias toward the resistant area 1.3135, break up the area could trigger further bullish pressure test 1.3200 and resistant trendline. To move down, the nearest support area is around, break 1.3050 consistent down the area can provide opportunities for bearish scenario to 1.2895 area in the medium term.
GBP/USD is neutral in the short term Bias is possible with more bearish bias after forming on the chart a bearish channel 1 hour. Nearest Support is all around area 1.5605, break down those areas could trigger further bearish pressure towards the area of 1.5530 or even further down again. To move up, we need a break and daily closing level back up 1.5705 to turn back into a bullish bias daily to at least test the resistant area 1.5805 before strong 1.5580 area.
USD/JPY Bias still bullish in the short-term test area 82.80-83.20 or even 84.00. Nearest Support is around the area – 82.10 81.85, break down the area can bring prices toward the neutral zone in the short term but over the price of defending the above 79.60 we still prefer the daily scenario in this phase with a bullish strategy buy on dips. For movements down, only to break down area support at 79.60 can stop a strong bullish outlook at this time.
XAU/LOCO bearish Bias, after the well-known short-term price break down the MA200 at daily chart, toward the area of 1650-1665 before test area 1625. However, the movement konsitan above area will validate the scenarios false 1675 break to move up and back to the 1700 's.
CRUDE OIL/OIL Bias still bullish over the dollar touched a high of level 11 months just yesterday, heading to the nearest level 10000 as resistant, before testing the resistant area daily 10170. Just constant movement under 10000 which can impede the momentum is bullish and bearish correction back to the trigger area 9875.
INDEX bullish Bias HANGSENG, after a sharp rise in Wall Street yesterday. Hang seng will likely dibukan ride nearing 21435 21760 or even today. However, we are still bearish correction of estimated immediately after the market opened, along with the stochastic on the 4 hour chart indicate overbought condition, a correction will be heading to the area prior to the testing area of 21000 21260.
The NIKKEI INDEX was still bullish Bias as the dollar touched a high of level 11 months just yesterday, heading to the nearest level 10000 as resistant, before testing the resistant area daily 10170. Just constant movement under 10000 which can impede the momentum is bullish and bearish correction back to the trigger area 9875.
Posted in: Technical analysis Trading March 14 2012