Tracking the EUR/USD pair
Date: 03.10.2012 Time: 17:24 Rate: 1.2905
Daily chart
Last Review
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.
Current review for today
The price is located near the 1.2900 area while it is used as a balance point. Breaching of the 1.3000 price level will probably lead the price north with first target on the 1.3172 last peak. On the other hand, breaking of the 1.2824 price level will sing that the next target will be the 1.2750 price level which is a 61.8% correction level of the last uptrend.
You can see the chart below:
The price is located near the 1.2900 area while it is used as a balance point. Breaching of the 1.3000 price level will probably lead the price north with first target on the 1.3172 last peak. On the other hand, breaking of the 1.2824 price level will sing that the next target will be the 1.2750 price level which is a 61.8% correction level of the last uptrend.
You can see the chart below:
EUR/USD
Date: 03.10.2012 Time: 17:30 Rate: 1.2908
4 Hour chart
Last Review
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.
4 Hour chart
Last Review
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.
Current review for today
The price has ranged during the last trading day while the direction of the price is still undefined. Breaching of the 1.3000 price level will probably indicate that the correction move is coming to an end and a comeback of the price towards the 1.3170 last peak in first stage. On the other hand, another breaking of the 1.2837 price level will probably lead the price to continue towards the 1.2758 price level at first stage, which will be a 61.8 % correction of the uptrend marked in black broken line.
The price has ranged during the last trading day while the direction of the price is still undefined. Breaching of the 1.3000 price level will probably indicate that the correction move is coming to an end and a comeback of the price towards the 1.3170 last peak in first stage. On the other hand, another breaking of the 1.2837 price level will probably lead the price to continue towards the 1.2758 price level at first stage, which will be a 61.8 % correction of the uptrend marked in black broken line.
You can see the chart below:
GBP/USD
Date: 03.10.2012 Time: 17:37 Rate: 1.6082
4 Hour chart
Last Review
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.
Current review for today
The price did break the ascending trend line between the lows (black broken line), reached the 1.6100 price level as it was mentioned on yesterday’s review and looks like it is making its way towards the 1.6050 next Fibonacci level. Currently the price structure is descending, therefore we are looking on a downtrend in which every move upwards is considered a correction only.
The price did break the ascending trend line between the lows (black broken line), reached the 1.6100 price level as it was mentioned on yesterday’s review and looks like it is making its way towards the 1.6050 next Fibonacci level. Currently the price structure is descending, therefore we are looking on a downtrend in which every move upwards is considered a correction only.
You can see the chart below:
AUD/USD
Date: 03.10.2012 Time: 17:47 Rate: 1.0220
4 Hour chart
Last Review
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.
4 Hour chart
Last Review
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.
Current review for today
As it was written on the last review, the price continued its movement towards the lower lip of the descending price channel (black broken lines) while it shows stopping signs on the last three candles. Breaking of the 1.0196 price level will probably lead the price to the last low on the 1.0167 price level. On the other hand, stoppage of the price at the current area will probably lead the price to a Fibonacci correction in size of between a third and two thirds of the last uptrend which started on the 1.4000 price level.
As it was written on the last review, the price continued its movement towards the lower lip of the descending price channel (black broken lines) while it shows stopping signs on the last three candles. Breaking of the 1.0196 price level will probably lead the price to the last low on the 1.0167 price level. On the other hand, stoppage of the price at the current area will probably lead the price to a Fibonacci correction in size of between a third and two thirds of the last uptrend which started on the 1.4000 price level.
You can see the chart below:
USD/CHF
Date: 03.10.2012 Time: 17:50 Rate: 0.9384
4 Hour chart
Last Review
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.
Current review for today
The price is trying to establish on the 0.9335 price level, which is a support and a 50% Fibonacci correction level of the last uptrend (blue broken line). Another breaching of the 0.9420 price level will probably lead the price 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.
The price is trying to establish on the 0.9335 price level, which is a support and a 50% Fibonacci correction level of the last uptrend (blue broken line). Another breaching of the 0.9420 price level will probably lead the price 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:
12.00 (GMT+1) GBP – Asset Purchase Facility
12.00 (GMT+1) GBP – Official Bank Rate
12.45 (GMT+1) EUR – Minimum Bid Rate
13.30 (GMT+1) EUR – ECB Press Conference
13.30 (GMT+1) USD – Unemployment Claims
15.00 (GMT+1) CAD – Ivey PMI
19.00 (GMT+1) USD – FOMC Meeting Minutes
12.00 (GMT+1) GBP – Official Bank Rate
12.45 (GMT+1) EUR – Minimum Bid Rate
13.30 (GMT+1) EUR – ECB Press Conference
13.30 (GMT+1) USD – Unemployment Claims
15.00 (GMT+1) CAD – Ivey PMI
19.00 (GMT+1) USD – FOMC Meeting Minutes
