Daily Technical Analysis

Daily Technical Analysis Posted: 8/15/2008 1:46:28 AM

Currency Pair

Daily Momentum

4-Hour Momentum

1-Hour Momentum

Support

Resistance

EUR/USD				1.4750 1.4710 1.4680	1.4830 1.4880 1.4905	440GMT bullish MACD divergence on 4 hr and hourly charts, recent thrust lower looks overdone, looking for bounce back to former support at 1.4830
GBP/USD				1.8600 1.8570 1.8500	1.8750 1.8820 1.8910	450GMT base could be forming ahead of 1.8600, break above trendline at 1.8750 takes immediate downside pressure off, over that likley sees 1.8910
USD/JPY				109.90 109.60 109.30	110.20 110.50 110.80	500GMT pressing up against trendline resistance in the 110.20/30 area, break there should take us through recent highs, upside bias above 109.30
USD/CHF				1.0920 1.0880 1.0830	1.0980 1.1030 1.1060	505GMT broke above recent highs and upside potential remains while above 1.0920, below sees likely pullback to 1.0870/80
AUD/USD				0.8620 0.8590 0.8555	0.8670 0.8705 0.8750	510GMT rejected at its 100 hr SMA, now trying to regroup above recent lows in the 0.8590 area, above 100 hr at 0.8750 puts 200 hr SMA in focus
USD/CAD				1.0620 1.0570 1.0540	1.0660 1.0730 1.0760	515GMT support near 1.0620 holding, below sees losses to 1.0570 initially, to the upside look for resistance into recent highs at 1.0730
EUR/JPY				162.60 161.90 161.30	163.00 163.35 164.20	520GMT bullish MACD crossover on hourly suggests further gains, currently testing trendline resistance at 163.00, over puts 100 hr SMA in focus
NZD/USD				0.6980 0.6950 0.6900	0.7030 0.7080 0.7130	525GMT sideways consolidation, sees trendline support near 0.6950, above 0.7030 sees to 200hr SMA near 0.7075
EUR/GBP				0.7905 0.7890 0.7865	0.7940 0.7960 0.7985	530GMT hit 38.2percent retracement of move higher from 0.7800 at 0.7915, but strength above 0.7940 needed to shift the focus back up
AUD/JPY				95.15 94.50 93.90	95.55 95.95 96.70	535GMT facing resistance into 100 hr SMA at 95.90 but finding support into 55 hr SMA at 95.15, break over 100 hr likley sees test of 200 hr at 97.40
GBP/JPY				204.60 204.00 203.50	206.00 206.80 207.20	540GMT bearish flag formation forming as the recent upmove is stalling ahead of 206.00, break below 204.60 likley sees test of recent lows
CAD/JPY				103.20 102.75 102.20	103.40 103.70 104.25	545GMT currently consolidating between its 55 and 200 hr SMAs, break higher likley sees 104.25, break lower likley sees 101.50

	- 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