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Tracking the EUR/USD pair
Date: 13.08.2012 Time: 17:46 Rate: 1.2342
Daily chart
The price has stopped on the 1.2290 price level after the short descending move which started on the 1.2436 price level, breaching this level will probably lead the price towards the closest resistance on the 1.2692 price level. On the other hand, descending of the price and closure of a candle under the Bollinger’s moving average will start a bearish movement while its first target is the lower Bollinger band.
You can see the chart below:
4 Hour chart
Date: 13.08.2012 Time: 17:55 Rate: 1.2340
The price has corrected the last uptrend (blue broken line), to the 1.2250 price level which is a 61.8% Fibonacci correction level, it stopped on this level and started a new move upwards. Breaking of the last peak on the 1.2444 price level will probably lead the price north while its first target is the crossing of the price with the trend line that is connecting the last lows (points 1, 3, 5), On the other hand, stoppage of the price in the current area and its descending under the 1.2250 price level and it is possible that it will continue downwards while its first target is the 1.2134 last low.
You can see the chart below:
GBP/USD
Date: 13.08.2012 Time: 18:05 Rate: 1.5694
4 Hour chart
The price is ranging while performing sharp movements between the 1.5577 and the 1.5720 price levels, while proven breaking of the 1.5720 will probably lead the price towards the last peak on the 1.5777 price level. On the other hand, stoppage of the price at the current area and its descending under the Bollinger’s moving average will probably lead the price to check the 1.5577 support level.
You can see the chart below:
AUD/USD
Date: 13.08.2012 Time: 18:14 Rate: 1.0505
4 Hour chart
The buyers are showing weakness signs while the price did not succeed to breach the upper lip of the tunnel, proven breaking of the 1.0500 price level will create, for the first time, a descending price structure and will sign the falling of the price towards the closest support on the 1.0444 price level, breaking of this level will lead the price to the lower lip of the tunnel.
You can see the chart below:
USD/CHF
Date: 13.08.2012 Time: 20:25 Rate: 0.9742
4 Hour chart
The price has corrected the last downtrend (red broken line) to the 0.9810 price level, this is a 61.8% Fibonacci correction level, while breaching this level will probably lead the price north towards the closest resistance on the 0.9866 price level. On the other hand, breaking of the 0.9650 price level will probably lead the price to the closest support on the 0.9564 price level.
You can see the chart below:
USD/JPY
Date: 01.08.2012 Time: 16:46 Rate: 78.22
4 Hour chart
The price continues to range between the 77.46 and the 78.70 price levels, while breaking of the 77.94 price level will continue the downtrend towards the last low on the 77.66 price level. stoppage of the price at the current area and breaching of the 78.70 price level, will probably lead to an ascending move with first target on the 79.20 resistance level.
You can see the chart below:
Important announcements for today:
09.30 (GMT+1) GBP – CPI (Yearly)
10.00 (GMT+1) EUR – German ZEW Economic Sentiment
13.30 (GMT+1) USD – Core Retail Sales (Monthly)
13.30 (GMT+1) USD – PPI (Monthly)
13.30 (GMT+1) USD – Retail Sales (Monthly)
