The recovery is still capped by the 1410.00-1420.00 resistance area, right where the 50-Day SMA resides, so we see the risks of a new decline towards the 1300.00 level. Breaking below 1300.00 would open a door for a medium-term downside rally ahead of the 1000.00 level. However, a clear break above the 1410.00-1420.00 resistance area would confirm an additional recovery towards the 1500.00 level, from where the bearish reversal could take place. Only a break and consolidation above 1500.00 would extend gains towards the 1600.00...
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Technical Analysis
EUR/USD: Current outlook
June 06, 2013 - 10:55
The pair broke above the 1.3020-1.3060 resistance area, which contains the 50-Day SMA, the 100-Day SMA and the 200-Day SMA, and in a short-term will likely reach the 1.3200 resistance. A clear break above this level would confirm the medium-term upside run towards the 1.3710 high. Any setbacks area expected to be well supported by the 1.3020-1.3060 area. Only a clear break and consolidation below this area would confirm the bearish resumption towards the 1.2745 and the 1.2660 supports.
Edward Smith, technical analyst...
EUR/JPY: Current outlook
June 05, 2013 - 12:20
The pair is consolidating in a range by the 50-Day SMA at 130.20. Should it hold above the moving average, the long-term uptrend will likely continue towards the 139.20 resistance. However, a break and consolidation below the 50-Day SMA would trigger a corrective decline below the 100-Day SMA ahead of the 118.75 support or the 200-Day SMA by 117.25.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary...
AUD/USD: Current outlook
June 05, 2013 - 12:05
The pair dropped back to the 0.9580 support. A break and consolidation below this level would aim the pair for testing the key 0.9385 support. However, should it hold above 0.9580, we would see a bullish resumption towards parity. Additional gains beyond parity seem now unlikely.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual...
EURUSD - Technical Outlook
June 05, 2013 - 11:36
USD's steep fall against EUR on Monday was triggered by disappointing ISM manufacturing index that favored continuation of Fed's massive stimulus program. On Monday, EURUSD currency pair finally settled off the day's peak of 1.3108, its highest since May 9.
On Tuesday, comments from Dallas Fed President Richard Fisher and Kansas City Fed President Esther George helped arrest USD's early-week sell-off against EUR. EURUSD currency pair finally settled with marginal gains at 1.3078 from 1.3071 on Monday.
On Wednesday, EUR traded sideways...
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