The pair found some support by the 0.9370-0.9400 area, right where the 50-Day SMA and the 200-Day SMA reside, and in a short-term will likely continue the uptrend towards the 0.9540-0.9600 resistance area, which contains the 100-Day SMA and the 50.0% FIBO retracement level of the 0.9971-0.9214 downside rally. A clear break above the 0.9600 level would confirm the bullish bias and accelerate gains towards the 0.9970 resistance over the medium-term. Only a break and consolidation below the 0.9370-0.9400 support area would negate this...
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Technical Analysis
EURUSD – Daily Technical Outlook
November 07, 2012 - 12:34
On Tuesday, EUR held the 200-day SMA support against USD near 1.2740 - 1.2760 zone also representing 38.2% and 50% Fibonacci Retracement Level of 1.3486 - 1.2064 move and 1.2042 – 1.3172 rally.
On Wednesday, USD fell against EUR reacting to President Barack Obama's re-election victory. The pair is currently quoting at 1.2853 from 1.2805 on Tuesday.
On the upside, 1.2880 – 1.2890 is likely to continue acting as a very strong resistance and may cap any further gains for the currency pair.
However, should the pair decisively...
SILVER: Current outlook
November 07, 2012 - 12:08
The metal made a turnaround by the 30.60-31.00 support area, right where the 100-Day SMA and the 200-Day SMA reside, and will likely continue the rebound towards the 50-Day SMA by 33.20, with a daily close above to confirm gains towards the 35.40 resistance. Breaching this level would aim the metal for testing the 37.50 resistance. Only a clear break below the 30.60-31.00 support area would negate our constructive outlook and open a fresh downside extension towards the key 26.10 support.
Edward Smith, technical...
EUR/JPY: Current outlook
November 07, 2012 - 11:55
The pair is still trading above the 101.60-102.10 support area, right where the 50-Day SMA and the 200-Day SMA reside, so in a short-term we expect to see a retest the local 104.60 high, with a break above to confirm gains towards the 108.00 resistance over the medium-term. Only a clear break below the 101.60-102.10 support area would negate our constructive outlook and accelerate declines towards the 100-Day SMA by 99.60 and the 97.90 support.
Edward Smith, technical analyst of company Admiral Markets.
At any use...
GBP/USD: Current outlook
November 06, 2012 - 12:09
The pair broke below the 50-Day SMA and the 1.6000 level, thus confirming declines towards the key 1.5750-1.5850 support area, which contains the 100-Day SMA, the 200-Day SMA and the 50.0% FIBO retracement level of the 1.5267-1.6310 upside rally. A break below 1.5750 would open a fresh downside extension towards the 1.5400 support. However, a reversal from the 1.5750-1.5850 support area would trigger a new attempt to reach the 1.6310 resistance. A consolidation above the 1.6000 level and then a break the 50-Day SMA would confirm...
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