Forex technical analysis

EUR-USD => Further down progress to 1.4615 or even 1.4575 should be seen. Resistance at 1.4675 should hold all upward pullbacks. Breaking above 1.4715 signals of buyers’ rising strength.

GBP-USD => Support at 1.9455 is at watch for a test, if broken will allow a sell to 1.9385. Rising above 1.9615 cancels those expectations.

USD-CHF => 1.1035 or 1.1065 should see the end of the current rise, expecting a pullback to 1.0995 - 1.0975.

USD-JPY => 108.35 - 108.45 should mark the end of an up move. A pullback down to 107.85 is anticipated. Rising above 108.65 cancels hopes for a pullback.

EUR-JPY => 158.85 - 158.85 should mark th end of an uptrend starting a pullback down to 158.25. Rising above 159.10 again cancels the pullback prediction.

EUR-GBP => Expecting another dip towards 0.7485 and possibly to 0.7460 while resistance at 0.7515 - 0.7525 holds. S/L is placed slightly above 0.7545.

EUR-CHF => 1.6160 or 1.6200 may see the end of a current rise initiating a pullback to 1.6120 - 1.6100.

AUD-USD => 0.9185 - 0.9160 is expected to mark the end of an uptrend with a following correction lower to 0.9090. Rising above 0.9185 will cancel anticipated correction.

USD-CAD => Again 1.0075 or 1.0100 level will most likely be the highest one for a current up move. Expecting a drift down with a target at 1.0050 or even 1.0025. Rising clearly above 1.0125 suggests buyers strength.

GBP-JPY => The market is repeating sideways moves. Currently sellers have taken over pushing the price down. Objectives for this down move are 207.80 and later 206.80.

Forex fundamental review

CAD 7:00 AM EST Consumer Price Index (CPI) - Forecast is -0.1%. Higher than that => stronger CAD, lower => weaker CAD.

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Forex technical analysis

EUR-USD => While trading below 1.4695 - 1.4715 we can expect another dip to 1.4635 or even 1.4595. S/L is placed slightly above 1.4750.

GBP-USD => A dip to 1.9550 is expected presuming that 1.9635 - 1.9665 holds upward pressure. Later a pullback to 1.9665 or even 1.9695 is anticipated.

USD-CHF => Targeting 1.0990 for a test. Entries are set at 1.0910 and 1.0890. Breaking below 1.0835 suggests sellers strength.

USD-JPY => Possible test of 108.05 with a following retracement to 107.30.

EUR-JPY => Aty first expecting a pullback to 157.55 with a following upward swing towards 158.55 and possibly 158.90. Breaking above 159.60 adds fire to buyers thrust.

EUR-GBP => Expecting further up move towards 0.7510 - 0.7530 presuming that support at 0.750 holds. Later a correction to 0.7470 - 0.7460 is expected.

EUR-CHF => Main support at 1.5960 should hold allowing a rise to 1.6105 and possibly to 1.6150.

AUD-USD => Price should move further up to 0.9140 presuming that support at 0.9060 holds. Later a correction to 0.9060 - 0.9045 may take place.

USD-CAD => We should see a temporary consolidation between 0.9960 and 1.0230 levels.

GBP-JPY => Currently we should see some consolidating activity between 211.85 and 210.65. Breaking above 214.00 will set i price on upward course while breaking below 210.30 will send it down.

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Forex technical analysis overview

EUR-USD => Targeting 1.4675. Support at 1.4615 - 1.4595 area should hold all pullbacks.

GBP-USD => While 1.9745 resists we may see further sell offs to 1.9655 or even 1.9625. Breaking above 1.9745 can boost price to 1.9805 and higher.

USD-CHF => While 1.1010 - 1.1035 offer resistance we may see a fall to 1.0930. Later a corrective up move towards 1.1035 or even 1.1060 is anticipated.

USD-JPY => Expecting a pullback to 108.25 and possibly to 108.40. Support levels are at 107.80 and 107.55.

EUR-JPY => Resistance at 158.50 may provoke further fall to 157.65 or even 157.35. Rising clearly above 158.50 may result in a rising over 159.05.

EUR-GBP => Main support at 0.7410 should hold allowing a rise to 0.7450 and possibly to 0.7460.

EUR-CHF => While resistance area at 1.6060 - 1.6100 is intact price my fall to 1.6020 or even to 1.5965.

AUD-USD => We should see consolidation forming between 0.8960 and 0.9125.

USD-CAD => Expecting a possible test of 1.0010 with the following sloping to 0.9955 and lower.

GBP-JPY => Possible top has formed around recent highs at 213.70/214.20, drop below 213.00/10 signals reversal lower to 211.70 initially.

Forex Fundamentals today

Lot’s of data to be released today. Be careful with your stops.

JPY 1:00am EST BOJ Monthly Report Medium Impact Expected

JPY Tentative BOJ Governor Fukui Speaks High Impact Expected

EUR 2:45am EST French Nonfarm Employment q/q (p) Medium Impact Expected

CAD 8:30am EST Manufacturing Shipments m/m Medium Impact Expected

USD 8:30am EST Empire State Business Conditions Index Medium Impact Expected

USD 8:30am EST Import Price Index m/m Medium Impact Expected

USD 9:00am EST TIC Net Long-Term Transactions High Impact Expected

USD 9:15am EST Capacity Utilization Rate Medium Impact Expected

USD 9:15am EST Industrial Production m/m Medium Impact Expected

EUR 9:45am EST ECB President Trichet Speaks Medium Impact Expected

USD 10:00am EST Consumer Sentiment (p) High Impact Expected

USD 1:15pm EST Fed Governor Mishkin Speaks Medium Impact Expected

Profitable Forex trades!

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Although we all love Forex, today is a day for our beloved ones!

In fact, they are our inspiration, happiness and blessing!

Happy Valentines day, everyone! Lots of Love, smiles and joy!

Practical Trader

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