Tracking the EUR/USD pair
Date: 24.09.2012 Time: 22:33 Rate: 1.2929
Daily chart
Last Review
The price went down to check the 1.3000 support level and it look like this level can still hold. Breaching of the 1.3172 price level will probably lead the price to the 1.3280 resistance level at first stage. On the other hand, breaking of the 1.3000 support level will indicate that it is possible to see a technical correction in size of between a third and two thirds of the uptrend which started on the 1.2500 price level.
Current review for today
As it was written on the last review, by breaking the 1.3000 price level, the price has descended to the 1.2916 price level which is a 38.2% Fibonacci correction of the uptrend which started on the 1.2500 price level. at this point, breaking of the 1.2916 price level (and closure of the candle above this level) will probably lead the price towards the next Fibonacci retracement level on the 1.2824 price level. On the other hand, stoppage of the price at the current area and breaching of the 1.3172 price level will indicate that the price will continue north with first target on the 1.3280 price level which is the closest resistance.
You can see the chart below:
EUR/USD
Date: 24.09.2012 Time: 22:43 Rate: 1.2932
4 Hour chart
Last Review
By breaking the 1.3084 price level which is used as the neck line of the “Double top” pattern (small red arrows), the price has reached the 1.3000 target level (red broken lines). The price is currently located under the Bollinger moving average and it is possible that breaking the 1.3000 price level will continue the downtrend towards its first target on the 1.2916 price level, which is 38.2% technical correction level of the uptrend that is marked with black broken line. Only breaching of the 1.3170 price level which is the last peak, will change this assumption.
Current review for today
By breaking the 1.3000 the price has descended to the 1.2916 target level, while it is possible to see it stops there two times. Breaking of the 1.2892 price level will indicate that the price will continue its way downwards to the next Fibonacci retracement level on the 1.2837 price, while breaking this level will lead towards the 1.2758 price level which is another Fibonacci correction level. On the other hand, stoppage of the price at the current area and breaching of the 1.3048 price level will sign a change in the price structure after an ascending price structure will create, its closest target will be the last peak on the 1.3170 price level.
You can see the chart below:
GBP/USD
Date: 24.09.2012 Time: 22:54 Rate: 1.6224
4 Hour chart
Last Review
The price has broken the 1.6200 price level but the breaking candle closed eventually above it, therefore it is not a proven breaking (as it was written on yesterday’s review). It is possible to see that the price has broken the lower lip of the ascending price channel (red broken lines) and it was checked again by the price after the breaking (the shadow of the previous candle) another breaking of this level and closure of a candle under it will probably lead the price towards the 1.6100 price level at first stage. This level is a 38.2% Fibonacci correction of the last uptrend which is marked by a black broken line. Only breaching of the 1.6273 price level will cancel this assumption.
Current review for today
The price still cannot create a descending price structure, therefore all its movement in the last days goes to the right direction. Breaking of the 1.6163 price level will probably lead the price towards its first target on the 1.6100 price level, which is a 38.2% Fibonacci correction level of the last uptrend marked in black broken line. On the other hand, breaching of the 1.6310 price level will indicate that the uptrend will continue.
You can see the chart below:
AUD/USD
Date: 24.09.2012 Time: 23:01 Rate: 1.0424
4 Hour chart
Last Review
As it was written yesterday, the price has corrected the last downtrend (red broken line) by a Fibonacci third (38.2%), towards the 1.0492 price level, while breaching this level will probably lead the price towards the next Fibonacci levels- the 1.0517 and the 1.0543 price levels. On the other hand, stoppage of the price at the current area and its descending under the 1.0400 price level, will probably lead the price towards the 1.0340 price level.
Current review for today
In the last few days the price is ranging between the 1.0268 and the 1.0517 price levels while it is possible to say that breaking of the 1.0340 price level will probably lead the price towards the last low on the 1.0167 price level. On the other hand, breaching of the 1.0543 price level will probably lead the price to check the last peak on the 1.0613 price level again.
You can see the chart below:
USD/CHF
Date: 24.09.2012 Time: 23:14 Rate: 0.9353
4 Hour chart
Last Review
Nothing changed much since yesterdays review and the price3 is still ranging between the 0.9250 and the 0.9300 price levels. Breaking of the lower ranging level will probably continue the downtrend while the first target of the price is the closest support on the 0.9040 price level. On the other hand, breaching of the upper ranging level will probably lead the price towards the closest resistance on the 0.9360 price level followed by the lower lip of the shrinking descending price channel (lower black broken line) which is used as a dynamic support.
Current review for today
Breaching of the 0.9300 price level sent the price to the 0.9368 target level while creating n ascending price structure. If the structure will not change, it is possible to assume that the price will continue towards the next resistance on the 0.9420 price level followed by the 0.9500 area. On the other hand, stoppage of the price at the current area and creation of a descending price structure will probably lead the price to check the last low on the 0.9250 price level again.
You can see the chart below:
Important announcements for today:
13.30 (GMT+1) CAD – Core Retail Sales
14.00 (GMT+1) EUR – ECB President Draghi Speaks
15.00 (GMT+1) USD – CB Consumer Confidence
