Forex Technical Analysis: EUR, JPY, CHF, GBP

Posted by: : Paul EbelingPosted on: April 30, 2015 Forex Technical Analysis: EUR, JPY, CHF, GBP
 

Forex Technical Analysis: EUR, JPY, CHF, GBP

The EUR/USD continued Bullish momentum Wednesday topping at 1.1186.The bias is Bullish in near term for a test at 1.1280.1st support is seen at 1.1040. A clear break below that mark could push price to Neutral in here, any Southside pullback is normal and should be seen as a good buying opportunity.

The GBP/USD continued its Bullish move Wednesday topping at 1.5497.

The bias is Bullish near term for a test at 1.5550.

1st support is seen at 1.5350. A clear break below that mark could push price to Neutral in here and test 1.5280, but any Southside pullback is normal and should be seen as a good buying opportunity.

The USD/JPY was volatile but indecisive Wednesday.

The bias is Neutral near term. The probable daily range is seen between 119.50 – 118.50.

Overall the price is sideways without clear direction.

Selling around 119.50 or buying around 118.50 with a tight stop loss looks to be the best trading strategy in here  The technical outlook is Neutral.

Standing aside waiting for direction.

The USD/CHF had a strong Bearish move Wednesday, as it broke below Ke support at 0.9490, and bottomed at 0.9339.

The bias is Bearish near term testing 0.9250.

1st resistance is seen at 0.9440. A clear break above that mark could drive price to Neutral for a test at 0.9490, any Northside move now should be seen as a good sell opportunity.

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After finding a trading system that works for you, the more cryptic and esoteric fields of study can then be incorporated into your technical and trading toolbox.The bottom line when utilizing any type of analytical method, technical or otherwise, is to hold to the basics, which are methodologies with a proven track record over a long period.

Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technical trader.

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Stay tuned…

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Paul Ebeling

 

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 305 4904 116, or email us to get started.

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