Tracking the EUR/USD pair
Date: 02.10.2012 Time: 21:02 Rate: 1.2919
Daily chart
Last Review
The price continued its way downwards to the 1.2916 price level and reached the moving average of the Bollinger bands and 50% Fibonacci correction to the 1.2824 price level, which is a correction of the last uptrend which started on the 1.2500 price level. Stoppage of the price at the current area and breaching the 1.3172 price level will probably lead the price north towards the first target of the price on the 1.3280 price level which is the closest resistance. On the other hand, breaking of the 1.2824 price level will indicate that the next target will be the 1.2750 price level which is a 61.8% correction of the mentioned uptrend.
Current review for today
There is no change from the last review except that the 1.3000 price level is currently used as a resistance level and its breaking will allow the continuation of the uptrend. The price continued its way downwards to the 1.2916 price level and reached the moving average of the Bollinger bands and 50% Fibonacci correction to the 1.2824 price level, which is a correction of the last uptrend which started on the 1.2500 price level. Stoppage of the price at the current area and breaching the 1.3172 price level will probably lead the price north towards the first target of the price on the 1.3280 price level which is the closest resistance. On the other hand, breaking of the 1.2824 price level will indicate that the next target will be the 1.2750 price level which is a 61.8% correction of the mentioned uptrend.
You can see the chart below:
EUR/USD
Date: 02.10.2012 Time: 21:13 Rate: 1.2917
4 Hour chart
Last Review
As it was written on our last review, by breaking the 1.2892 price level, the price continued downwards to the next Fibonacci retracement on the 1.2837 price level and stopped there. Breaking of this level will probably lead the price towards the 61.8% Fibonacci correction of the uptrend marked with black broken line on the 1.2758 price level. On the other hand, a creation of an ascending price structure will indicate that the price has finished the correction and its first target will be the last peak on the 1.3170 price level.
Current review for today
It looks like the price is slowing the downtrend but still cannot create an ascending price structure. Breaching of the 1.3000 price level will probably indicate the end of the correction and the comeback of the price towards the last peak on the 1.3170 price level at first stage. On the other hand, another breaking of the 1.2837 price level will probably lead the price to continue at first stage towards the 1.2758 price level which is a 61.8% correction level of the uptrend marked in black broken line.
You can see the chart below:
GBP/USD
Date: 02.10.2012 Time: 21:22 Rate: 1.6131
4 Hour chart
Last Review
By breaking the 1.6163 price level the price has created a descending price structure with first target on the 1.6100 price level, which is a 38.2% Fibonacci correction level of the uptrend marked in black broken line. On the other hand, only a proven breaking of the 1.630 price level will indicate the continuation of the uptrend.
Current review for today
By breaking the ascending trend line between the lows (black broken line) the price will probably complete the downtrend to correct 38.2% of the last uptrend (black broken line) to the 1.6100 price level, while breaking of this level will probably lead the price towards the 1.6050 price level, which is a 50% Fibonacci correction level of the mentioned uptrend. On the other hand, only a proven breaking of the 1.6310 price level will lead the price to a continuation of the uptrend.
You can see the chart below:
AUD/USD
Date: 02.10.2012 Time: 21:31 Rate: 1.0264
4 Hour chart
Last Review
The price has reached the 1.0340 target level which is a 61.8% Fibonacci correction level of the uptrend started on the 1.0167 price level. Stoppage of the price in the current area and a creation of an ascending price structure will probably lead the price to end the correction with first target on the last peak on the 1.0613 price level. On the other hand, breaking of the 1.0340 price level will indicate that the downtrend continues towards the next support on the 1.0278 price level.
Current review for today
The price did reach the support level target on the 1.0278 price level and it is possible that now it is making its way towards the lower lip of the descending price channel (black broken lines), it is possible that the price will descend to check the last low on the 1.0167 price level as well. On the other hand, only a creation of an ascending price structure will probably lead the price to a technical correction in size of between a third and two thirds by Fibonacci of the downtrend locked in the tunnel.
You can see the chart below:
USD/CHF
Date: 26.09.2012 Time: 22:20 Rate: 0.9395
4 Hour chart
Last Review
The price did reach close to the 0.9420 price level while it is still located under an ascending price structure. Breaching of the mentioned level will probably lead the price towards the next resistance on the 0.9463 price level, while breaking this level will send the price to check the 0.9513 resistance which is also a 38.2% Fibonacci correction level of the downtrend started on the 0.9950 price level (red broken line). On the other hand, stoppage of the current uptrend on the 0.9420 resistance and a creation of the a descending price structure will probably lead the price towards the last low in order to check if it can be an appropriate support.
Current review for today
The price did not succeed to breach the 0.9420 price level and descended to the 0.9335 price level, which is used as a support level and a 50% Fibonacci correction level of the last uptrend (blue broken line). Stoppage of the price at the current area and another breaching of the 0.9420 price level will probably lead the price to continue towards the 0.9513 price level which is a 38.2% Fibonacci correction level of the downtrend marked in red broken line. On the other hand, breaking of the 0.9335 price level will probably lead the price to check the last low on the 0.9250 price level.
You can see the chart below:
Important announcements for today:
09.30 (GMT+1) GBP – Services PMI
13.15 (GMT+1) USD – ADP Non-Farm Employment Change
15.00 (GMT+1) USD – ISM Non-Manufacturing PMI
