TA Francis Bray (Rudolf Axel) by DJ. US dollar tends to decline against euro, Japanese yen and Swiss franc

Determining support and resistance levels is work that a trader has to do every day. We have already mentioned its difficulties (). Let us only recall that a Forex trader needs technical levels so that, based on them, he can draw up a work plan for the trading session and create his own behavioral tactics.

One of the most optimal methods for determining technical levels is found in Axel Rudolph at Dow Jones Newswires.

Examples of technical levels by Rudolf Axel

To better understand what we are talking about, let's look at examples of technical analysis by Rudolf Axel. Thus, in the Dow Jones Newswires column, based on rolling charts for 24 hours and 7 days, he published an analysis of European currency markets on July 7, 2006, the main conclusion of which was the statement that the price of the US dollar will decline:

Table 1. R. Axel's forecast for 07/07/2006 for pairs with the euro in the numerator

After the levels were determined, Axel made the following conclusions:

Euro/dollar during the day. The movement of the pairs is directed towards the second resistance at 1.2789 (Fibonacci retracement level at 61.8%
June wave of decline). If this level is broken, the pair will continue to rise to 1.2842. On the other hand, the nearest support for the pair lies at the 1.2758 line (Sunday's low). If, contrary to expectations, this low is broken, the pair will head even lower at the next support at 1.2730.
Euro/dollar on the weekly chart: Uptrend.
Euro/pound during the day. The pair is expected to reach minor resistance at 0.6968. If that level is broken, the pair will target the resistance at 0.6988. The first support is located at 0.6942. If this minimum is broken, the rate will go even lower - until the next support of 0.6920.
Euro/pound on the weekly chart: Uptrend.
Euro/yen during the day. The pair is targeting minor resistance at 147.50 until first support at 146.96 (Thursday's daily low) is broken. A rise above 147.50 will test the minor resistance at 147.80. If the rate falls below 146.96, the pair will go to the support line at 146.55 and then 146.20.
Euro/yen on the weekly chart: Uptrend.
Euro/CHF during the day. Intraday EUR/CHF: The pair will again test minor resistance at 1.5713 (Wednesday's high). If this level is overcome, the pair will test its strength at the next resistance of 1.5742. The first support is located at 1.5689 and the next at 1.5669 (Thursday morning low).
Euro/franc on the weekly chart: Uptrend.

Unlike these currency pairs, the following ones on the weekly chart meet resistance and support levels, and as a result may go into correction. Rudolf Axel identifies them as a separate group.

Table 2.R. Axel's forecast for 07/07/2006 for pairs encountering strong levels of resistance and support

Regarding these currency pairs, Rudolf Axel makes the following predictions:

Pound/dollar during the day. The pair is targeting minor resistance at 1.8415. If this level is broken, the next target will be 1.8475. Minor support is located at 1.8320 (June 23 high). The next low is 1.8270 (June 27 high).
Pound/dollar on the weekly chart: rebound from support level.
Dollar/yen during the day. The pair is down again and is targeting minor support at 115.02. If this level is broken, the pair will target support at 114.34. The first resistance is located at 115.84 (Wednesday's high).
Dollar/yen on the weekly chart: growth is limited by the resistance line.
Dollar/franc during the day. The pair is expected to decline towards minor support at 1.2262 while gains are capped by resistance at 1.2364. If this resistance level is broken, the pair's growth on Friday will be limited by the secondary resistance at 1.2396. Below 1.2262, support is located at 1.2197 (Wednesday's low).
Dollar/franc on the weekly chart: growth is limited by the resistance level.
AUD/USD intraday. The pair is targeting minor resistance at 0.7481. If this level is broken, the pair will target 0.7503 and 0.7510, where the highs of June 9 and 12 are located. First minor support lies at 0.7449 (Friday morning low). This support level should hold if the pair tests it to the limit. If this level is broken, the pair’s decline will be restrained by the secondary support at 0.7339.
Australian/US dollar on the weekly chart: rebound from support level.

*The pivot point is equal to the sum of the previous day's high, low and closing price divided by three.

Signature: Dow Jones Newswires, PRIME TASS.

MasterForex-V Pivot_RS_session indicator

Students of the Trading Academy MasterForex-V developed our own indicator Pivot_RS_session. It saves time, since the trader no longer needs to chart a turning point (pivot), as well as three levels of resistance and support. Everything happens automatically (see).

Rice. 1. MasterForex-V indicator on the chart of the eur/usd pair Fig. 2. MasterForex-V indicator on the chart of the gbp/usd pair
Rice. 3. MasterForex-V indicator on the chart of the usd/chf pair
Rice. 4. MasterForex-V indicator on the chart of the aud/usd pair
Rice. 5. MasterForex-V indicator on the chart of the usd/jpy pair

Advantages of technical analysis using the Rudolf Axel method

Using Rudolf Axel's technical analysis methods in Forex, a trader easily and quickly processes the most important information about the state of currency pairs. This, in turn, allows you to make decisions that provide a favorable balance of profit and risk when making trading transactions. Besides:

R. Axel's analysis is not only simple, but also very convenient. Every day, the trader sees pivots (turning points) and three levels of resistance and support for eight currency pairs in the Forex market.
Already in the very title of each analytical review, R. Axel clearly suggests where the main vector of movement of currency pairs is directed. This makes life even easier for a trader.
In the pictures above you can see how the allied currencies, located behind the pivot, broke through resistance or support levels 1, 2, 3 as the US dollar fell.
Using this information, it will be easy for a trader to make a profit. The same figures show that it is possible to use the potential for movement of pairs between the first and third levels, since breaking through one directs the financial instrument to the other.

Note: We recommend that you familiarize yourself with the content of the discussion between students of the MasterForex-V Trading Academy and one of the managers of the Forex Club DC. While publishing the Dow Jones Newswires daily, this dealing center for some reason forgot about the analytical reviews of Rudolf Axel. In the end, under pressure from Academy students, these materials nevertheless appeared on the pages of the DC website.

Disadvantages of technical levels of the Dow Jones Forex agency

However, nothing is ideal in the world. Many questions arise both for the Dow Jones agency and for Rudolf Axel himself. Let's outline some of the problems that ordinary traders face:

Traders have fair doubts whether a system can be considered reliable if its mechanism is not clear. And another question: what to do if:
- Axel's levels won't be published?
- Will Axel make a mistake?
How can I independently determine Rudolf Axel's levels a few hours before they are published?
Are there any sources from which you can get R. Axel levels at least half an hour to an hour earlier than they appear in the Dow Jones Newswires of the leading dealing centers in Russia? (Such sources exist; they are used by students of the MasterForex-V Trading Academy).
Why, if you calculate the pivot (turning point) of currency pairs using the method “*The turning point is equal to the sum of the high, low and closing price of the previous day, divided by three,” its location does not coincide with the one that will be written about in R. Axel’s analysis? Do traders think wrong somehow?
How and by what OTHER method can you check R. Axel levels? For example, for the day we mentioned, July 7, 2006, BEFORE the news was released, a 4-1 resistance level was calculated for the euro and pound, which became a local peak in the American session (pound - 1.8540, euro - 1.2860).

Let's look at another example. On July 10, 2006, Axel indicated the third support level for the pound at 1.8415. At the same time, the majority of students of the Trading Academy MasterForex-V closed at 1.8365 - the local minimum on July 10, 2006. Therefore, another question arises: how, at the beginning or middle of the session movement, can one determine with an accuracy of 1 point (preferably!) the local minimum of the trading day, during which the pound passed 160 points?

Rice. 6. Axel levels and real movement of the gbp/usd pair 07/10/2006

You can get answers to these and other questions by completing training at Trading Academy MasterForex-V. Determining resistance and support levels, as well as intraday pivots, is given special attention here, considering them one of the most effective tools for making a profit in the Forex market. Note that “the most effective” and “important” does not mean “the only one”. In fact, for stable work, a trader needs more knowledge, which we will talk about in future chapters.

And you can read more about Rudolf Axel’s methodology in the chapter “World-famous traders and analysts of the world: Rudolf Axel (Axel Rudolph on the Academy forum).

In particular, the MasterForex-V Academy recognizes Axel levels as a reliable analysis technique for novice traders who have not yet developed their own system for assessing market conditions and making the right decisions to make profitable transactions.

Column published daily Dow Jones Newswires.
Originally by Axel Rudolph, Master of Technical Analysis /MSTA/.
Currently writing a column Francis Bray.
Many traders use this data in their trading.
It is noteworthy that no indicators can repeat this calculation with precision down to the point, although they exist.
The turning point for each pair you are interested in is equal to the sum of the high, low and closing price divided by three. And if “dependent pairs”, for example EUR/USD EUR/CHF, line up ABOVE this point, you need to be prepared for the currency to move up during the European session, breaking through the levels. If the price is BELOW the pivot level, it is clear that there is a high probability of “mirror” events.
Thursday, 01/13/2011

There is room for the pound to rise further
- Spot at 05.55 GMT 1.3099 83.06 1.5742 0.9699
- Three-day trend Down Side trend Up Side trend
- 200 days skol.av 1.3327 85.55 1.5612 1.0117
- 3rd resistance 1.3250 83.50 1.5928 0.9784
- 2nd resistance 1.3192 83.35 1.5910 0.9734
- 1st resistance 1.3145 83.15 1.5779 0.9706
- Pivot point* 1.3079 83.09 1.5709 0.9695
- 1st support 1.3045 82.80 1.5665 0.9662
- 2nd support 1.2960 82.66 1.5575 0.9620
- 3rd support 1.2904 82.45 1.5515 0.9600
Intraday EUR/USD: Resistance emerged at 1.3145 and prompted consolidation of strong gains on Wednesday. Testing the strength of support at 1.3045 is the immediate threat. The high of 1.3145 corresponds to the 50% Fibonacci retracement level of the dominant decline wave from 1.3435 to 1.2860. Only a new wave of optimism can cause a breakout above 1.3145 and continued corrective growth to 1.3250. A break below 1.3045 is more likely after a period of range trading. In case of a breakout of 1.3045, the road to the 1.2960 area will open.
Intraday USD/JPY: Wednesday's low at 82.80 threatens a break above 83.15, which would open the door to downtrend line resistance at 83.35. The pair began trading in a range within a bullish consolidation pattern between Monday's low of 82.66 and last week's high of 83.70. However, a break above 83.35 will lift the pair's tone and trigger further gains towards 83.50 and the January 7 high at 83.70. Only a break below 82.80 will change the pair's dynamics to negative, opening the way to 82.45 and 82.25.
GBP/USD intraday: Wednesday's breakout to new 4-week highs continues into Thursday. The 1.5779 high is expected to come under pressure again. A break at 1.5779 would trigger further gains towards Dec. 14 lower high at 1.5910 and 1.5928, the 1.618 Fibonacci extension target. However, this surge from the Dec. 28 reaction low at 1.5347 is considered part of a larger 5-month head and shoulders reversal pattern. Good support is located at 1.5665. However, only a fall below 1.5575 would damage the pair's positive near-term outlook.
Intraday USD/CHF: The pair is recovering from the 0.9662 level and is targeting a rise to 0.9700. Oversaturation in the bearish pennant pattern on the daily chart provides resistance in the 0.9706-0.9734 range. A breakout of 0.9734 would be required for a return to Tuesday's high of 0.9784 to be possible. If support at 0.9662 is broken, this will trigger further declines towards 0.9620 and the January 7 low at 0.9600.
- Spot at 06.37 GMT 0.8316 108.78 1.2694 0.9946
- Three-day trend Sideways trend Down Up Up
- Weekly trend Down Down Up Down
- 200 days chipped Wed 0.8536 113.99 1.3469 0.9448
- 3rd resistance 0.8445 110.49 1.2872 1.0079
- 2nd resistance 0.8400 110.24 1.2798 1.0030
- 1st resistance 0.8339 109.47 1.2761 0.9994
- Pivot point* 0.8322 108.64 1.2671 0.9913
- 1st support 0.8300 108.37 1.2650 0.9880
- 2nd support 0.8285 107.85 1.2613 0.9804
- 3rd support 0.8203 106.83 1.2580 0.9752
Intraday EUR/GBP: Corrective gains from Monday's low at 0.8285 are likely to renew pressure on resistance at 0.8339. However, projected resistance at 0.8400 is likely to cap the corrective upside wave and upside potential appears limited at this stage. A return below 0.8300 would put the 0.8285 low under pressure again, threatening an extension of the dominant downtrend to fresh 4-month lows around 0.8175. The wave parity target of 0.8040 is still the long-term downside target.
Intraday EUR/JPY: The pair continues to recover from 106.83 and is approaching projected resistance at 109.47. A break above 109.47 would leave 106.83 a potential near-term bearish setback and push the pair towards 110.24. There is potential for a decline to the 108.37 area. However, only a fall below 107.85 would leave the 106.83 low vulnerable.
EUR/JPY on the weekly chart: Downward trend.
Intraday EUR/CHF: Wednesday's breakout to fresh three-week highs above 1.2727 put bullish investors back in control of the pair's near-term performance. The wave equality target level of 1.2761 is the nearest target level. However, there is room to reach 1.2798 and the December 16 high of 1.2872 with sustained gains. Support lies at 1.2650 and 1.2613, which protect the 1.2580 environment low.
AUD/USD intraday: The pair's rise on Wednesday from the level of 0.9804 stopped the short-term downward trend. Trading on Wednesday closed higher, with Wednesday's trading range fully including Tuesday's range. The pair is again approaching the 1.0000 level. During the recovery, the pair will try to test the Fibonacci retracement level of the 50% decline wave from 1.0258 to 0.9804, which is located at 1.0030. However, resistance is likely to emerge that will protect the 0.9985-0.9994 highs and trigger consolidation lower towards the 0.9880 area. Only a break of 0.9880 would leave the 0.9804 low vulnerable.
Friday, January 14, 2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
Euro consolidates downwards
- Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
- Spot at 06.04 GMT 1.3343 82.54 1.5834 0.9636
- Three-day trend Up Down Up Down
- Weekly trend Down Up Up Up
- 200 days skol.av 1.3327 85.52 1.5614 1.0112
- 3rd resistance 1.3500 83.50 1.6000 0.9784
- 2nd resistance 1.3435 83.15 1.5928 0.9764
- 1st resistance 1.3383 82.86 1.5910 0.9728
- Pivot point* 1.3279 82.83 1.5813 0.9671
- 1st support 1.3322 82.47 1.5720 0.9600
- 2nd support 1.3235 82.31 1.5665 0.9565
- 3rd support 1.3145 82.25 1.5575 0.9542
Intraday EUR/USD: Thursday's strength has seen the pair reach key resistance levels at 1.3383, which is likely to trigger downward consolidation towards the 1.3145 area. The dominant bearish pennant's resistance line is also located near Thursday's high at 1.3383, and shorts will be looking to defend this area for the downtrend to continue. A strong break of 1.3383 would trigger further gains towards the January 4 reaction high of 1.3435.
EUR/USD on the weekly chart: Downward trend.
USD/JPY intraday: Thursday's fall below 82.80 continues the corrective decline from the January 7 high of 83.70 within the bull flag towards 82.25. This decline consolidates a powerful rally from 80.93 to 83.70. The 50% correction level is located at 82.31. This means that the corrective decline will likely be limited to the 82.25-31 area. A rise above 82.86 will improve the tone of the pair and open the way to 83.15.
USD/JPY on the weekly chart: Uptrend.
Intraday GBP/USD: The short-term uptrend has received a strong continuation with a break of 1.5779, with the December 14 lower high at 1.5910 now the nearest target. At 1.5928 there is a target Fibonacci extension level of 1.618, protecting the level of 1.6000. However, this surge from the Dec. 28 reaction low at 1.5347 is considered part of a larger 5-month head and shoulders reversal pattern and is capped at 1.6000. Good support is located at 1.5665, which is protected by 1.5720.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: The pair's weakness on Thursday confirms Thursday's peak at 0.9784. Support at 0.9600 is under threat. The lower high at 0.9764 was confirmed and there is room for further declines towards the 1.618 Fibonacci extension target at 0.9565. The 50% Fibonacci retracement level of the advance wave from 0.9301 to 0.9784 is at 0.9542 and likely caps the decline. Only trading above 0.9728 will bring the 0.9764-0.9784 highs back into view.
USD/CHF on the weekly chart: Uptrend.
- Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
- Spot at 06.35 GMT 0.8424 110.17 1.2869 0.9958
- Three-day trend Up Up Up Up
- Weekly trend Down Up Up Down
- 200 days chipped Wed 0.8535 113.95 1.3463 0.9453
- 3rd resistance 0.8500 111.94 1.3000 1.0079
- 2nd resistance 0.8485 111.50 1.2964 1.0021
- 1st resistance 0.8450 110.67 1.2934 0.9994
- Pivot point* 0.8397 110.01 1.2818 0.9972
- 1st support 0.8375 109.93 1.2770 0.9950
- 2nd support 0.8340 109.50 1.2725 0.9910
- 3rd support 0.8285 108.72 1.2650 0.9880
Intraday EUR/GBP: Resistance at 0.8450 limits corrective recovery. The pair is expected to consolidate down to 0.8375, but there is good support at 0.8340 that will limit this weakening. A fresh wave of upward pressure is needed for a break of 0.8450, which will open the way to 0.8500. Support at 0.8340 protects the January 10 reaction low at 0.8285.
EUR/GBP on the weekly chart: Downward trend.
Intraday EUR/JPY: The pair continues to recover, aiming to exceed 110.24. Investors betting on the pair's growth will try to secure their positions above 110.00 in order to break through the resistance at 110.67. There is a risk of consolidation down towards the 109.50 area, but there is technical space to reach the 108.72 level before the pair finds support. A fresh wave of upward pressure is needed for a break of 110.67, which will open the way to 111.94.
Intraday EUR/CHF: The pair continues its strong recovery towards new monthly highs, aiming to break above 1.2872. A rise above this level will open the way to the resistance cluster area of 1.2934-64. The upper limit of this area is the Fibonacci extension target level of 1.618. It is located near the 38.2% Fibonacci retracement level of the dominant decline wave from 1.3835 to 1.2398. If the pair declines, it will find support in the area of 1.2725.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: Resistance at 1.0021 prompts consolidation of the pair down towards the 0.9910 area. A break below 0.9950 is needed for the pair to target the 0.9910 area, but declines will be limited during Friday's session. A fresh wave of upward pressure is needed for a break of 1.0021, which will create room for gains to 1.0079 and 1.0100.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
Monday, 01/17/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:

Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF

Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD

Three-day trend Up Up Up Down

*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
Monday, 01/17/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The euro's downward consolidation will continue
Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.54 GMT 1.3335 82.91 1.5855 0.9646
Three-day trend Up Up Up Down
Weekly trend Up Up Up Down
200 days skol.av 1.3328 85.50 1.5632 1.0107
3rd resistance 1.3510 83.70 1.6000 0.9764
2nd resistance 1.3458 83.47 1.5928 0.9708
1st resistance 1.3416 83.08 1.5910 0.9687
Pivot point* 1.3386 82.78 1.5855 0.9642
1st support 1.3314 82.79 1.5775 0.9605
2nd support 1.3270 82.51 1.5720 0.9518
3rd support 1.3175 82.40 1.5665 0.9461
EUR/USD intraday: There is a corrective decline from Friday's high at 1.3458, which tests support at 1.3314. The pair could break 1.3314 and head towards the 1.3270 area, although a break below 1.3270 would risk a decline to a high of 1.3175. If 1.3270 holds firm, it will trigger a fresh attack on the 1.3416 intraday lower high and 1.3458 peak. Strong resistance is at 1.3510.
Intraday USD/JPY: Recovering from Friday's low at 82.40, the pair is set to test resistance at 83.08. The pair can make a confident breakout of 83.08, which will strengthen the neutralizing doji low reached on Friday and complete the 6-day bullish wedge consolidation pattern, which will provoke further strengthening towards 83.47 and 83.70. Failure to hold at 82.79 support would trigger a decline towards 82.51, but the 82.40 low appears to be safe on Monday.
USD/JPY on the weekly chart: Uptrend.
Intraday GBP/USD: The short-term uptrend continued strongly, bringing the pair's December 14 lower high at 1.5910 within range. At 1.5928 there is a target Fibonacci extension level of 1.618, which will protect the 1.6000 level. However, the current upside wave from the Dec 28 reaction low at 1.5347 will be considered part of a larger 5-month head and shoulders reversal pattern while the 1.6000 level caps the pair's gains. Good support lies at 1.5665, protected by 1.5775.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: A head and shoulders pattern is emerging on the daily chart, suggesting upside potential will likely be limited to the 0.9708 area. A break below the 0.9605 neck would complete this trend reversal pattern, leaving 0.9518 vulnerable and creating a target near 0.9425. Only a break above 0.9764 will refute this bearish scenario, opening the way to the 0.9784 peak.
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.42 GMT 0.8399 110.37 1.2852 0.9888
Three-day trend Up Up Up Down
Weekly trend Down Up Up Down
200 days chipped Wed 0.8534 113.92 1.3457 0.9457
3rd resistance 0.8498 111.94 1.2953 1.0021
2nd resistance 0.8470 110.99 1.2922 0.9955
1st resistance 0.8436 110.86 1.2870 0.9920
Pivot point* 0.8440 110.67 1.2899 0.9913
1st support 0.8391 110.00 1.2770 0.9856
2nd support 0.8340 109.10 1.2725 0.9804
3rd support 0.8285 108.91 1.2685 0.9752
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
Continuation
Intraday EUR/GBP: Friday's decline from 0.8498 should test Friday's low at 0.8391. As part of the weakening, the pair could decline to the 0.8340 area before demonstrating a strong recovery. A rise to 0.8436 will raise the tone, triggering a return to 0.8470 and threatening a retest of the 0.8498 peak.
EUR/GBP on the weekly chart: Downward trend.
Intraday EUR/JPY: The pair consolidated from Friday's high at 110.99 to test the 110.00 level. However, there is a risk of a decline to the support area of 108.91-109.10, consisting of the Fibonacci retracement level of the 50% recovery wave from 106.83 to 110.99. A break above 110.86 would again target the 110.99 peak, which defends 111.94 and the December 14 high at 112.20.
EUR/JPY on the weekly chart: Uptrend.
Intraday EUR/CHF: The resistance cluster protecting the 1.3000 level has triggered a downward consolidation that is targeting strong support at 1.2725. The 1.2725 area includes the 38.2% Fibonacci retracement level of the 1.2398 to 1.2953 rally and is likely to limit downside risk for Monday's session. A break above 1.2870 will lift the pair's tone, opening it up again towards 1.2922 and Friday's high at 1.2953.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: The decline from 1.0021 should extend below support at 0.9856 and bring last week's low at 0.9804 back into view. If the 0.9804 low is broken, bearish market participants will again control the situation in the short term, leaving 0.9752 vulnerable, but at the same time creating the potential for a decline to the 0.9600 area. A break above 0.9920 would give the pair some breathing space, but only a rise above 0.9955 would reopen last week's high at 1.0021.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
Tuesday, 01/18/2011.
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The dollar/franc pair is ready to fall to 0.9425
Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.54 GMT 1.3316 82.53 1.5941 0.9615
Three-day trend Sideways trend Down Up Down
Weekly trend Up Up Up Down
200 days skol.av 1.3327 85.47 1.5619 1.0102
3rd resistance 1.3458 83.50 1.6095 0.9764
2nd resistance 1.3416 83.08 1.6000 0.9708
1st resistance 1.3355 82.85 1.5953 0.9687
Pivot point* 1.3317 82.68 1.5891 0.9648
1st support 1.3243 82.35 1.5870 0.9605
2nd support 1.3190 82.00 1.5838 0.9518
3rd support 1.3175 81.80 1.5817 0.9461
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.22 GMT 0.8353 109.90 1.2802 0.9937
Three-day trend Down Down Down Up
Weekly trend Down Up Up Down
200 days chipped Wed 0.8534 113.88 1.3457 0.9457
3rd resistance 0.8498 110.99 1.2953 1.0150
2nd resistance 0.8470 110.50 1.2874 1.0085
1st resistance 0.8431 110.25 1.2842 1.0021
Pivot point* 0.8381 110.17 1.2850 0.9924
1st support 0.8328 109.57 1.2770 0.9897
2nd support 0.8285 108.90 1.2725 0.9856
3rd support 0.8222 108.30 1.2670 0.9804
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
Added after 36 minutes
Intraday EUR/USD: The pair's recovery from Monday's low at 1.3243 has been sluggish, with gains likely to be capped below last Friday's one-month high at 1.3458. Lower intraday high at 1.3416 protects peak at 1.3458, but as long as there is bear flag resistance at 1.3355, a return to 1.3243 and below could be expected. Support below 1.3243 is located at 1.3190 and 1.3175.
EUR/USD on the weekly chart: Uptrend.
Intraday USD/JPY: A sustained downtrend is likely to retest Monday's 82.35 low. There is risk of further declines towards 82.00, but downside potential threatens to increase, indicating room for declines towards the 1.618 Fibonacci extension target at 81.80. Only a clear break above the resistance cluster at 82.85 will lift the pair's tone, paving the way for gains towards 83.08.
USD/JPY on the weekly chart: Uptrend.
Intraday GBP/USD: Monday's four-week high 1.5953 is back under pressure, with 1.6000 within reach. However, the pair reached the 1.618 Fibonacci extension target at 1.5928 and the near-term uptrend encountered significant resistance levels. If this three-month advance forms the right shoulder of the five-month head-and-shoulders pattern, the pair will peak around 1.6000. A clear break of 1.6000 will create the potential for highs of 1.6095-1.6104. strong support lies at 1.5665, which is protected by 1.5817.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: A head and shoulders formation is completing on the daily chart and the neck support at 0.9605 is under threat. A break lower at 0.9605 would highlight the formation of the 0.9784 reaction high reached on January 11 and trigger a decline towards the estimated target of 0.9425. Only a rise above 0.9676 would refute this bearish scenario, triggering a recovery towards the 0.9764 lower high.
Continuation:
Intraday EUR/GBP: A break above 0.8340 suggests that the 0.8285 reaction low hit on January 10 is likely to be tested again this week. The sharp fall from the 0.8498 reaction high hit on Jan 14 threatens further declines below 0.8285 to new 4-month lows towards 0.8135, but there is potential for a decline to the 0.8040 area in the longer term. Only a recovery above 0.8431 will lift the tone of the pair, targeting 0.8498.
EUR/GBP on the weekly chart: Downward trend.
Intraday EUR/JPY: Sharp declines on Monday indicate a peak at 110.99 is forming, and a fresh wave of downside pressure is expected to trigger a break below 109.57. With corrective gains limited to the 110.25 area, the main threat is a decline towards 108.90 and the 108.30 area. To improve the pair's tone, a break of 110.50 is needed, which would target the 110.99 high.
EUR/JPY on the weekly chart: Uptrend.
Intraday EUR/CHF: The pair continues to decline from last Friday's high of 1.2953 towards support at 1.2770. There is downside potential towards the 1.2725 support area, which is a good defense of the 1.2670 support, near the 50% Fibonacci retracement of the 1.2398-1.2953 upside wave. The pair needs to break lower high at 1.2874 to raise tone, threatening 1.2953.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: The pair is recovering again and there is a risk of a return to the 1.0021 high reached on January 13th. The rise from the 0.9856 low hit on January 14 is likely to confirm a higher low, extending the wave of bullish pressure from 0.9804 towards the 1.0085 area. Only a reversal below 0.9897 would challenge the positive outlook, targeting the pair at 0.9856 and 0.9804.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
Wednesday, January 19, 2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The euro/dollar pair will test the strength of the key high of 1.3500
Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 06.02 GMT 1.3479 82.23 1.6024 0.9579
Three-day trend Up Down Up Down

200 days skol.av 1.3328 85.44 1.5622 1.0097
3rd resistance 1.3537 82.75 1.6105 0.9710
2nd resistance 1.3510 82.69 1.6075 0.9687
1st resistance 1.3500 82.40 1.6058 0.9656
Pivot point* 1.3370 82.57 1.5971 0.9614
1st support 1.3437 82.00 1.5957 0.9551
2nd support 1.3395 81.80 1.5934 0.9470
3rd support 1.3345 81.60 1.5815 0.9425
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.19 GMT 0.8407 110.84 1.2913 1.0045
Three-day trend Sideways trend Up Up Up
Weekly trend Down Up Up Down
200 days chipped Wed 0.8531 113.85 1.3445 0.9467
3rd resistance 0.8455 112.20 1.3115 1.0207
2nd resistance 0.8440 111.97 1.3000 1.0150
1st resistance 0.8431 111.17 1.2953 1.0073
Pivot point* 0.8374 110.44 1.2865 0.9967
1st support 0.8364 110.33 1.2880 1.0000
2nd support 0.8340 110.19 1.2810 0.9960
3rd support 0.8328 109.57 1.2773 0.9897
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
Intraday EUR/USD: The pair's uptrend becomes inexorable as key resistance at 1.3500-10 is now within reach. The top of the weekly Ichimoku cloud is located at 1.3510. But given last week's upside reversal, there is room for stronger gains towards 1.3537 and 1.3575. At 1.3575 is the Fibonacci retracement level of the 50% wave of decline from 1.4283 to 1.2860. As long as the pair is trading above 1.3395, it will find support during a corrective decline. Only trading below 1.3345 will alarm the bulls.
EUR/USD on the weekly chart: Uptrend.
Intraday USD/JPY: Sustained downtrend moves towards new 2-week lows below 82.33, targeting support at 82.00. However, there is a risk of further declines towards the 1.618 Fibonacci extension target at 81.80 as downside potential threatens to increase. The risk of corrective growth is limited to the area of 82.69.
Intraday GBP/USD: A strong near-term uptrend will again put Tuesday's 8-week high at 1.6058 under pressure. A close at the end of the day above 1.6000 is needed to give the uptrend additional impetus. A break above 1.6058 will open the way for the pair to the resistance cluster area of 1.6075-1.6105. This area is the last line of defense ahead of the key November reaction high at 1.6298. If the pair fails to close above 1.6000 and breaks below 1.5934, it will challenge the strength of the uptrend and trigger a decline towards 1.5815 and strong support at 1.5665.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: Tuesday's low at 0.9551 is again under threat as dollar bears look to confirm the completion of a head and shoulders formation on the daily chart. A break below 0.9551 would trigger further declines towards 0.9470 and a reversal pattern target on the decline around 0.9425. If the 0.9551 low is not broken and the pair makes a break above 0.9656, it will erase its bearish outlook and target 0.9687 and 0.9710.
USD/CHF on the weekly chart: Downward trend.
Intraday EUR/GBP: The pair's recovery from Tuesday's spike low at 0.8328 leaves support at 0.8340 intact as the pair looks to settle above 0.8400. The immediate target is the 0.8431-40 resistance area, but only a break above 0.8455 would re-open last week's reaction high at 0.8498. A break below 0.8364 is needed to cancel the bullish threat and open the door to the 0.8328-40 support area.
EUR/GBP on the weekly chart: Downward trend.
Intraday EUR/JPY: Tuesday's one-month high 111.17 will be tested again as bulls look to gain control of the near-term. Since the daily Ichimoku cloud base is near the 111.17 high, a breakout is also likely. This will trigger further gains towards 111.97 and a lower high at 112.20. Failure to break 111.17 will trigger sideways consolidation towards 110.33. However, only a trade below 110.19 will concern the bulls.
EUR/JPY on the weekly chart: Uptrend.
Intraday EUR/CHF: The pair's performance on Tuesday, which closed higher and the trading range fully included the previous trading day's range, brought last week's high at 1.2953 within reach again. The 38.2% Fibonacci retracement level of the dominant decline wave from 1.3835 to 1.2398 is also located at 1.2953, so a fresh wave of bullish pressure is needed to open the way to 1.3000 and 1.3115, the 50 retracement level %. Failure to break below 1.3000 would trigger consolidation down towards Tuesday's low at 1.2773.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: The pair is recovering again after breaking above 1.0021 towards the wave equality target at 1.0073. This level is located near the 61.8% Fibonacci retracement level of the decline wave from 1.0258 to 0.9804. But there is an opportunity for a breakout of 1.0073 towards 1.0150. The glut area between 0.9960 and 1.0000 will limit corrective easing.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
Yesterday I read in reputation:
"+ Correct it a little, insert spaces between prices to make it more clear. Especially for a beginner."

Let me explain - I tried hard from the very beginning.
I couldn’t find anything “more beautiful” for the tables.
These are problems with the forum engine.
Who knows how to make it more beautiful - tell me.
The numbers and pairs in the posts are tabular, but:
- The forum does not allow you to insert tables.
- It’s also impossible to place tabs.
- Repeated spaces are merged into one.
- And it’s also not possible to edit posts after a few minutes -
I have to write the continuation of the day with subsequent messages.
So read it "as is"

5 users liked this.
Dow Jones Newswires, Francis Bray
Thursday, 01/20/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The US dollar is trying to recover
Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 06.09 GMT 1.3469 82.11 1.5954 0.9558
Three-day trend Up Down Sideways trend Down
Weekly trend Up Side trend Up Down
200 days skol.av 1.3329 85.40 1.5626 1.0092
3rd resistance 1.3571 82.69 1.6105 0.9634
2nd resistance 1.3539 82.40 1.6058 0.9600
1st resistance 1.3509 82.30 1.6036 0.9579
Pivot point* 1.3460 82.19 1.5994 0.9573
1st support 1.3427 81.98 1.5912 0.9521
2nd support 1.3345 81.85 1.5835 0.9470
3rd support 1.3243 81.60 1.5815 0.9425
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.37 GMT 0.8450 110.67 1.2880 0.9957
Three-day trend Up Side trend Down Side trend
Weekly trend Down Up Up Down
200 days chipped Wed 0.8530 113.82 1.3439 0.9473
3rd resistance 0.8529 111.26 1.3000 1.0079
2nd resistance 0.8498 111.17 1.2930 1.0030
1st resistance 0.8452 111.00 1.2900 0.9983
Pivot point* 0.8419 110.63 1.2903 1.0016
1st support 0.8399 110.36 1.2845 0.9934
2nd support 0.8340 110.00 1.2733 0.9897
3rd support 0.8328 109.57 1.2700 0.9856
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
continued 01/20/2011
Intraday EUR/USD: The uptrend faces resistance as the pair approaches 1.3571, the 50% Fibonacci retracement level of the decline from 1.4283 to 1.2860. Longer-term moving average resistance on the daily chart capped the pair's gains at 1.3539, and a fall below 1.3427 would extend a retreat towards the 1.3345 area. However, only a fall below Monday's low of 1.3243 will alarm market participants betting on growth.
EUR/USD on the weekly chart: Uptrend.
Intraday USD/JPY: A sustained downtrend tests the key support area near 81.85, which must hold to protect the 12-week bearish pennant support line. The pair is trying to recover from 81.85, but a rise above 82.40 is needed to extend this low and create fresh upside pressure towards 82.69 and 82.83. A break of 81.98 would see the pair fall back to the 81.85 low.
USD/JPY on the weekly chart: Sideways trend.
Intraday GBP/USD: As part of an uptrend, the pair is struggling to secure a strong close above 1.6000, with downward pressure aimed at reaching the wave parity target within the decline at 1.5912. The decline from Tuesday's 8-week high at 1.6058 threatens to deepen consolidation towards the 1.5815 area, but downside risk appears limited. A rise above 1.6036 would re-open the pair towards the 1.6058 high, with 1.6105 the last line of defense for November's key reaction high at 1.6298.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: The short-term downtrend is back in force and aims to test the 0.9521 low, adding weight to the completed head and shoulders pattern on the daily chart. A break of 0.9521 should result in further weakening towards 0.9470 and a calculated target for this reversal pattern at 0.9425. In a corrective rally, the pair will try to reach the 0.9600 level again, and only a break above 0.9634 will call into question the negative outlook.
USD/CHF on the weekly chart: Downward trend.
Intraday EUR/GBP: Thursday's high at 0.8452 should be broken as the pair's recovery looks to retest last week's high at 0.8498. The risk of a breakout of 0.8498 is increasing. With this development of events, the pair will have a path to the resistance layers located close to each other at 0.8530 and 0.8550. However, the overall trend remains downward, and a break below 0.8399 will bring the 0.8328/40 support area into full view.
EUR/GBP on the weekly chart: Downward trend.
Intraday EUR/JPY: The pair consolidated below Tuesday's one-month high of 111.17, but the 110.00 level appears strong enough to limit downside risk. While 110.00 remains stable, the main threat is the pair returning to the resistance area of 111.17/26, which is the Ichimoku cloud base on the daily chart. A fresh wave of upside pressure would see the pair break above 111.26, opening it up to 111.97 and a lower high at 112.20.
EUR/JPY on the weekly chart: Uptrend.
EUR/CHF intraday: On Thursday, significant resistance appeared at 1.3000, which threatens to reverse the short-term trend back to Tuesday's low at 1.2773. Safety support is located at 1.2700, where, among other things, the Fibonacci retracement level of 50% of the corrective growth wave from 1.2398 to 1.3000 is located, however, only a break below 1.2700 will make the maximum of 1.3000 difficult to reach. In a corrective rally, the pair will attempt to move above 1.2930, which will be necessary to re-open the road to the 1.3000 high.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: The pair extended its decline from Thursday's high at 1.0079 and threatens to test support at 0.9897. However, the momentum of this downward wave is weakening. This indicates that good support at 0.9897 could protect the January 12 reaction low at 0.9804. A rise above 0.9983 will lift the tone, opening the pair towards 1.0030 again.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
Friday, January 21, 2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The yen will continue to weaken
Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.57 GMT 1.3473 82.95 1.5899 0.9681
Three-day trend Sideways trend Up Sideways trend Up
Weekly trend Up Side trend Up Down
200 days skol.av 1.3331 85.38 1.5629 1.0088
3rd resistance 1.3626 83.70 1.6058 0.9784
2nd resistance 1.3571 83.50 1.6036 0.9764
1st resistance 1.3539 83.13 1.6000 0.9687
Pivot point* 1.3465 82.70 1.5918 0.9629
1st support 1.3449 82.86 1.5835 0.9648
2nd support 1.3396 82.60 1.5815 0.9600
3rd support 1.3305 82.40 1.5720 0.9579
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.30 GMT 0.8472 111.87 1.3043 0.9863
Three-day trend Up Up Up Down
Weekly trend Down Up Up Down
200 days chipped Wed 0.8529 113.80 1.3435 0.9477
3rd resistance 0.8550 113.73 1.3207 0.9973
2nd resistance 0.8530 112.90 1.3115 0.9950
1st resistance 0.8498 112.20 1.3102 0.9899
Pivot point* 0.8456 111.35 1.2961 0.9905
1st support 0.8451 111.65 1.2953 0.9832
2nd support 0.8417 111.00 1.2900 0.9804
3rd support 0.8340 110.32 1.2867 0.9752
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
Added after 29 minutes
Intraday EUR/USD: The uptrend faces resistance as the pair approaches 1.3571, the 50% Fibonacci retracement level of the decline from 1.4283 to 1.2860. Consolidating on Thursday, the pair again failed to close above 1.3500 and the 200-week moving average continues to cap the pair's gains at 1.3539. Failure to break below 1.3539 would result in a decline to Thursday's low at 1.3396. However, only if it falls below 1.3396, the situation will again be controlled by market participants betting on the decline, and the level of 1.3305 will become vulnerable.
EUR/USD on the weekly chart: Uptrend.
Intraday USD/JPY: Thursday's strength puts this week's low at 81.85 out of reach and could see further gains beyond 83.13. The main target is the Jan. 7 reaction high at 83.70, but will be protected by the lower high at 83.50. The bearish pennant resistance line for Friday's current session is at 84.04. Corrective decline is likely to be limited to the 82.60 area.
USD/JPY on the weekly chart: Sideways trend.
GBP/USD intraday: The pair showed a recovery from 1.5835. Market participants betting on growth are looking for opportunities to retest the strength of the 1.6000 level. The pair will need to break lower high at 1.6036 on its way to Tuesday's 8-week high at 1.6058. Only a fall below 1.5835 would give control of the situation to bearers, deepening the decline and creating room for weakening to 1.5665.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: Thursday's strength has made Wednesday's low at 0.9521 difficult to reach and is testing the 0.9687 resistance. A breakout of 0.9687 seems likely. In this case, the pair will have room to rise to 0.9764 and the January 11 reaction high of 0.9784. The 0.9600 area protected by 0.9648 should limit room for corrective easing.
USD/CHF on the weekly chart: Downward trend.
Added after 28 minutes
Intraday EUR/GBP: The pair is poised to retest last week's high at 0.8498 after strengthening on Thursday. However, with key resistance at 0.8550, upside appears limited at this stage and only a clear break of 0.8550 will put the bull market in control. If the pair fails to hold at the 0.8417 support, it will face further weakness towards the 0.8328/40 support area and hopes of a test of strength at 0.8550 will be dashed.
EUR/GBP on the weekly chart: Downward trend.
Intraday EUR/JPY: The pair continued its short-term uptrend after breaking above 111.17 on Thursday, bringing the December 14 lower high at 112.20 within reach. The 112.20 area has very significant reversal potential, so there is a risk of a downward correction towards 111.00 before the pair prepares for a new attack at 112.20. The main target of this growth is the wave equality target level at 113.73, which can be achieved with a confident break above 112.20.
EUR/JPY on the weekly chart: Uptrend.
Intraday EUR/CHF: Thursday's range completely encapsulated the previous day's range, with the pair breaking above 1.3000 and closing above that level, higher than the previous close. As a result, new 6-week highs were reached and the road to 1.3115 was opened. Wednesday's bearish hammer was not confirmed, with 1.3115 representing the 50% Fibonacci retracement level of the dominant decline wave from 1.3835 to 1.2398. The potential for a corrective decline is limited, and only a fall below 1.2900 would challenge the near-term uptrend.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: Downside pressure should extend below 0.9832 and test the Jan 12 reaction low at 0.9804. Wednesday's high at 1.0079 should turn into a lower high, and a fresh wave of weakness below 0.9804 will create room for a decline to 0.9625 next week. Corrective strengthening will be limited to the 0.9950 area, protected by 0.9899.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
-
Intraday EUR/USD: There are no signs that the strong uptrend is abating, but there is potential for further gains above the current session high at 1.3648. While the corrective decline is limited by the projected 1.3500 support area, a break above 1.3648 would see the pair reach the wave equality target at 1.3692. Only a break below 1.3500 would raise concerns and lead to further declines towards 1.3396.
EUR/USD on the weekly chart: Uptrend.
Intraday USD/JPY: As support at 82.53 holds, it is supporting the recovery of the pair, which is targeting a return to last week's high at 83.13. The 50% Fibonacci retracement level of the 81.85-83.13 advance wave at 82.49 remains intact, indicating the possibility of 83.50 and the Jan. 7 reaction high at 83.70 this week. Only a reversal below 82.53 would challenge the positive outlook and target the pair at 82.15.
USD/JPY on the weekly chart: Sideways trend.
Intraday GBP/USD: The recovery from 1.5837 is likely to extend above Friday's high at 1.6014 and put pressure on last week's reaction high at 1.6058. Significant resistance lies in the 1.6073-1.6105 range, suggesting upside potential is limited and only a break above 1.6105 would again target the 1.6298 reaction high hit on November 4. Failure to hold the 1.5837 low, which is protected by the 1.5868 level, would put the pair firmly under the control of bears.
GBP/USD on the weekly chart: Uptrend.
Intraday USD/CHF: The pair started trading in the 0.9521-0.9686 range and is likely to remain sideways throughout Monday. A recovery from the current session low at 0.9560 should provide a break above 0.9600 to target 0.9650 before the 0.9686 high reappears on the horizon. A fall below 0.9560 would trigger a return to the 0.9521 range bottom, while a break below there would put the pair under the control of short-term bears, threatening a longer-term return to the record low of 0.9301 hit in December.
USD/CHF on the weekly chart: Downward trend.
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.28 GMT 0.8519 112.61 1.3048 0.9889
Three-day trend Up Up Up Down
Weekly trend Sideways trend Up Up Down
200 days chipped Wed 0.8529 113.78 1.3432 0.9481
3rd resistance 0.8595 113.75 1.3207 0.9973
2nd resistance 0.8550 113.00 1.3115 0.9950
1st resistance 0.8530 112.75 1.3068 0.9920
Pivot point* 0.8499 112.21 1.3033 0.9886
1st support 0.8468 112.25 1.2977 0.9864
2nd support 0.8450 111.65 1.2950 0.9832
3rd support 0.8414 110.00 1.2815 0.9804
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/
Added after 38 minutes
Intraday EUR/GBP: The short-term uptrend is poised to extend above 0.8530 and test the 0.8536-0.8550 resistance cluster. Between the 38.2% Fibonacci retracement level of the 0.8941-0.8285 decline wave and the long-term moving average on the daily chart is the 0.8541 wave equality target, and this range is likely to limit upside. Only a reversal below 0.8468 and 0.8450 will create room for deeper declines.
EUR/GBP on the weekly chart: Sideways trend.
Intraday EUR/JPY: Further gains are expected towards 113.00 and the key 113.75 area as the strong uptrend continues. The wave equality target is located at 113.75, as well as the falling 200-day moving average, which protects more significant resistance around 114.30. Failure to hold support at 112.25 will trigger a corrective decline towards 111.65, but downside risk is limited.
EUR/JPY on the weekly chart: Uptrend.
Intraday EUR/CHF: Growth investors are poised for six-week highs on a break above 1.3068 as Friday's close above 1.3000 supports a significant near-term uptrend. The 50% Fibonacci retracement level of the dominant 1.3835-1.2398 decline wave is located at 1.3115 and will be the main target on a break above 1.3068. The potential for a corrective decline is limited to the area of 1.2950.
EUR/CHF on the weekly chart: Uptrend.
Intraday AUD/USD: Downside pressure should extend below 0.9832 and test the Jan 12 reaction low at 0.9804. Last week's completion of the bull flag pattern creates space for a break below 0.9804, initially to 0.9732, but the wave equality target is at 0.9625. A break above 0.9920 will give the pair some breathing space, but only a rise above 0.9950 will change the pair's tone to the upside.
AUD/USD on the weekly chart: Downward trend.
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
Dow Jones Newswires column
Tuesday, 01/25/2011
TECHNALYSIS OF EUROPEAN CURRENCY MARKETS:
The move away from the US dollar continues
Spot quotes: EUR/USD USD/JPY GBP/USD USD/CHF
Spot at 05.38 GMT 1.3662 82.41 1.6001 0.9476
Three-day trend Up Side trend Side trend Down
Weekly trend Up Side trend Up Down
200 days skol.av 1.3337 85.32 1.5636 1.0077
3rd resistance 1.3739 83.13 1.6073 0.9625
2nd resistance 1.3700 82.92 1.6058 0.9575
1st resistance 1.3686 82.65 1.6015 0.9543
Pivot point* 1.3621 82.58 1.5975 0.9529
1st support 1.3627 82.30 1.5922 0.9470
2nd support 1.3540 82.05 1.5837 0.9423
3rd support 1.3396 81.85 1.5720 0.9350
Spot quotes: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot at 06.04 GMT 0.8534 112.48 1.2946 0.9960
Three-day trend Up Sideways trend Up Up
Weekly trend Sideways trend Up Up Sideways trend
200 days chipped Wed 0.8529 113.77 1.3427 0.9486
3rd resistance 0.8646 113.75 1.3115 1.0079
2nd resistance 0.8600 112.91 1.3068 1.0051
1st resistance 0.8551 112.75 1.3014 1.0023
Pivot point* 0.8523 112.56 1.2980 0.9953
1st support 0.8500 112.22 1.2930 0.9927
2nd support 0.8480 111.65 1.2886 0.9864
3rd support 0.8450 111.50 1.2865 0.9832
*The pivot point is calculated as the sum of the high, low and closing level divided by three.
/To be continued/

Intraday USD/JPY: Monday's 82.53 break extends its decline from 83.13 to pressure key support at 82.30. The level of 82.65 limits the growth of the pair. As such, the pair is likely to remain rangebound within a bearish pennant, indicating a move below 82.30 should be expected later this week. This fall will open the way to the January 19 reaction low at 81.85. Only a strong break above 82.65 will lift the pair's tone and open the door to the 82.92 lower high again.
USD/JPY on the weekly chart: Sideways trend.

Intraday GBP/USD: Upside pressure is building at 1.6015, keeping the January 18 reaction high at 1.6058 in tension. However, there is significant resistance accumulated between 1.6073 and 1.6105. It is the last line of defense for the November 4 reaction high at 1.6298. If the pair falls below 1.5922, it will continue to trade within a range within a bullish pennant or flag in the near term, with the January 20 reaction low at 1.5837 important.
GBP/USD on the weekly chart: Uptrend.

Intraday USD/CHF: Bearish investors extended their short-term declines after breaking below 0.9521 on Monday. The nearest target level for the pair is the wave equality target level of 0.9423. However, with the bearish momentum strengthening, the main threat is a further decline in the pair, which would again target the record low of 0.9301 reached in December. Corrective growth will be difficult above 0.9575. Only a break above 0.9625 will improve the tone of the pair.
USD/CHF on the weekly chart: Downward trend.

Added after 31 minutes
Intraday EUR/GBP: The short-term uptrend is set to put pressure on Monday's high at 0.8551. The wave parity target and long-term daily moving average are located around 0.8551. Therefore, only a new wave of upward pressure will be able to break upward to 0.8600. Downward consolidation is limited to the 0.8450 area, which is protected by the 0.8480 level.
EUR/GBP on the weekly chart: Sideways trend.

Intraday EUR/JPY: The pair is consolidating from Monday's 2-month high of 112.91. However, corrective decline is limited to the 111.50 area while the strong near-term uptrend takes a breather. Once a base above 111.50 is formed, the 112.91 high is likely to come under pressure again. The 113.75 level is the first target level for market-dominant investors betting on the pair's growth. The next level will be 114.30, where the base of the weekly Ichimoku cloud is located.
EUR/JPY on the weekly chart: Uptrend.

Intraday EUR/CHF: Monday's decline leaves the near-term double top at 1.3068 after breaking below 1.2977. Investors betting on the pair's decline have the responsibility to reach the target level of 1.2886. Reserve support is located at 1.2865. It is expected to limit the space for this downward wave. If the pair misses 1.2886 and breaks above 1.3014, it will cast doubt on the negative outlook for the pair, opening the way to 1.3068 again.
EUR/CHF pair on the weekly chart: Uptrend.

AUD/USD intraday: Strengthening the pair on Monday threatens the completion of the bearish flag and attempts to restore positions above 1.0000. A break of 1.0023 is needed to reopen the January 19 reaction high at 1.0079. If the pair trades above this level, it will return investors betting on the pair's growth control over its dynamics. If the pair breaks 0.9927, it will trigger a decline towards the 0.9864 level, which protects the 0.9832 low.
AUD/USD on the weekly chart: Sideways trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Friday, 05/04/2018
TECHNALYSIS: US dollar is inclined to decline against the euro

Spot quotes:	EUR/USD	USD/JPY	GBP/USD	USD/CHF
Weekly trend	Down	Sideways trend	Down	Up
Monthly trend	Down	Down	Up	Up
200 days chipped Wed	1.2232	108.73	1.3882	0.9584
3rd resistance	1.2060	109.75	1.3700	1.0080
2nd resistance	1.2035	109.55	1.3660	1.0040
1st resistance	1.2010	109.35	1.3620	1.0000
Pivot point*	1.1988	109.09	1.3577	0.9977
1st support	1.1950	108.75	1.3535	0.9955
2nd support	1.1915	108.50	1.3500	0.9930
3rd support	1.1880	108.15	1.3455	0.9900

EUR/USD intraday: The RSI index is showing upward momentum. Long positions above 1.1950 with targets at 1.2010 and 1.2035 seem appropriate. If the pair falls beyond 1.1950, it will target 1.1915 and 1.1880.

EUR/USD on the monthly chart: Downward trend.

USD/JPY during the day: The RSI index is giving negative signals and indicates a further decline in the pair. Short positions below 109.35 with targets at 108.75 and 108.50 seem appropriate. With growth beyond 109.35, the pair will target 109.55 and 109.75.

USD/JPY on the monthly chart: Downward trend.

GBP/USD during the day: Until the resistance of 1.3620 is broken, there is a high risk of falling below 1.3535. Short positions with target levels of 1.3535 and 1.3500 seem appropriate. If the pair rises above 1.3620, it will target 1.3660 and 1.3700.

GBP/USD on the monthly chart: Uptrend.

USD/CHF intraday: The support base formed at 0.9955 allows the pair to temporarily stabilize. Long positions above 0.9955 with targets at 1.0000 and 1.0040 seem appropriate. If the pair falls beyond 0.9955, it will target 0.9930 and 0.9900.

USD/CHF on the monthly chart: Uptrend.

Spot quotes:	EUR/GBP	EUR/JPY	EUR/CHF	AUD/USD
Weekly trend	Down	Sideways trend	Up	Down
Monthly trend	Up	Down	Up	Down
200 days chipped Wed	0.8812	132.96	1.1721	0.7795
3rd resistance	0.8895	132.10	1.2002	0.7605
2nd resistance	0.8870	131.65	1.1994	0.7585
1st resistance	0.8845	131.20	1.1986	0.7570
Pivot point*	0.8831	130.79	1.1961	0.7545
1st support	0.8805	130.55	1.1951	0.7525
2nd support	0.8780	130.25	1.1937	0.7500
3rd support	0.8760	130.00	1.1929	0.7485

Intraday EUR/GBP: The RSI is above the neutral level of 50. Long positions above 0.8805 with targets at 0.8845 and 0.8870 appear appropriate. With a decline beyond 0.8805, the pair will target 0.8780 and 0.8760.

EUR/GBP on the monthly chart: Uptrend.

EUR/JPY intraday: The RSI gives mixed and negative signals. Short positions below 131.20 with targets at 130.55 and 130.25 seem appropriate. With a rise above 131.20, the pair will target 131.65 and 132.10.

EUR/JPY on the monthly chart: Downward trend.

EUR/CHF during the day: The RSI index is above the neutral level of 50. The MACD indicator is positive and below the signal line. The pair may pull back. The pair is trading above the 20- and 50-period moving averages at 1.1960 and 1.1956, respectively. Trading above the 1.1951 support, the pair will target 1.1986. A break below 1.1951 would target the pair at 1.1937 and 1.1929.

EUR/CHF on the monthly chart: Uptrend.

Intraday AUD/USD: The RSI is showing upward momentum. Long positions above 0.7525 with targets at 0.7570 and 0.7585 seem appropriate. If the pair falls below 0.7525, it will target 0.7500 and 0.7485.

AUD/USD on the monthly chart: Downward trend.

*The pivot point is calculated as the sum of the high, low and closing level divided by three.

Technical analysis for the current week for seven major currency pairs.
Dow Jones Newswires Column, by Jerry Tan / Jerry Tan /, SINGAPORE.

.... sorry no for this week (

TECHNALYSIS: EUR/USD to break out of Wednesday's trading range Dow Jones Newswires column by Axel Rudolf, MSTA/ LONDON, November 27. /Dow Jones/. The euro/US dollar pair is losing its upward momentum after its advance was limited by the resistance area of 1.3081-1.3070 over the past two days. The pair could provide a technical signal of downside potential if Wednesday's trading range of 1.3070-1.2819 is broken. According to this column's November 12 forecast, the pair was expected to exceed the 1.30 area, and a minor Elliott wave could form above this area. The forecast came true, and now the question is whether wave C has already completed at this week's high of 1.3081, or whether the pair will rise to the wave A high at 1.3300 reached on October 30, or even higher. A breakout of Wednesday's 1.3070-1.2819 trading range can give us an idea of what scenario the situation is likely to follow, as such breakouts often define the short-term trend. If Wednesday's 1.2819 low fails, the pair will target the 1.2742 support area (Nov. 17 high) followed by the 1.2650 area. The next potential support is expected around 1.25. If a shortened correction A, B, C forms, we should expect the pair to decline below the wave B low of 1.2388, reached on November 13, and below the current year's low of 1.2335. On the other hand, if a break below Wednesday's intraday low at 1.2819 results in only a modest decline that fails to renew the 2008 lows, a more challenging upward correction off this year's low at 1.2335 may be forming. This development of the situation will indicate the formation of a larger four-wave correction, which began in July at the level of 1.6040. The first wave was formed by a fall from this level to 1.3882 (September 11 low). The second wave is an increase from 1.3882 to 1.4867 /maximum on September 22/. And the third wave is a fall to the October low. During the fourth wave, the pair is likely to trade sideways or gradually grow. The fourth wave is therefore a more complex correction than the three-wave Elliott A, B, C correction. However, there is a possibility of a breakout of the upper boundary of the 1.3070-1.2819 Wednesday trading range. With this development, the pair will continue to grow within wave C, which began with the low of wave B at 1.2388, reached on November 4. In case of growth above 1.3070, the pair will target the 1.3150 area, then the wave A high reached on October 30 at 1.3300, and if it breaks through, the resistance level of 1.3444 (October 6 low). Traders and investors should wait for a breakout of Wednesday's trading range before opening positions. Daily oscillators such as the slow stochastic and relative strength index continue to point higher -By Axel Rudolph, Dow Jones Newswires; +44 207 842 9249; [email protected]; PRIME-TASS translation; +7 495 974 7664; dowjonesteam @ prime-tass.com. /End/ Dow Jones Newswires, PRIME TASS

By Axel Rudolph, Rudolph Axel and Francis Bray, Francis Bray. Masters in Technical Analysis

Rudolf Axel and Francis Bray are leading experts in Technical analysis of the European Foreign Exchange Markets in Dow Jones Newswires

In the table Technical Analysis of European Foreign Exchange Markets Resistance, support levels and comments by Rudolf Axel are provided

The most important information is the currency turning point - Pivot Point

The turning point for each pair is equal to the sum of the high, low and closing price divided by three

If dependent pairs, for example EUR/USD or EUR/CHF, line up above this point, then get ready for the currency to move up in the European session, breaking through the levels. If the price is below the Pivot Level, then there is a possibility of mirror events

A little lower on the page there is a column Dow Jones Newswires By Technical Analysis of Seven Major Currency Pairs for a week. Author Jerry Tan, Jerry Tan

Technical Analysis of European Foreign Exchange Markets

Authors Rudolph Axel, Francis Bray – Axel Rudolph, Francis Bray

24 hour sliding charts

The forecast comes out from 11.00 to 12.00 Moscow time

Forecast for June 05, 2017

US dollar tends to decline against euro, Japanese yen and Swiss franc

–	EUR/USD pair	US dollar/Japanese yen pair	British pound/US dollar pair	US dollar/Swiss franc pair
Weekly trend	Up	Up	Up	Down
Monthly trend	Up	Down	Up	Down
200 days, skol. Wed	1.0789	112.24	1.2598	0.9969
3rd resistance	1.1370	111.40	1.2945	0.9720
2nd resistance	1.1330	111.20	1.2920	0.9700
1st resistance	1.1290	111.00	1.2905	0.9675
Pivot point*	1.1270	110.56	1.2867	0.9642
1st support	1.1225	110.20	1.2850	0.9605
2nd support	1.1200	109.85	1.2830	0.9575
3rd support	1.1170	109.45	1.2790	0.9535

EUR/USD pair during the day: Relative Strength Index (RSI) gives mixed and positive signals. Long positions above 1.1225 with targets at 1.1290 and 1.1330 seem appropriate. If the pair falls beyond 1.1225, it will target 1.1200 and 1.1170.

EUR/USD pair on the monthly chart: Uptrend.

Intraday USD/JPY pair: The possibility of a further technical recovery cannot be ruled out, but the space for this will be limited. Short positions below 111.00 with targets at 110.20 and 109.85 seem appropriate. With a rise above 111.00, the pair will target 111.20 and 111.40.

US dollar/Japanese yen pair on the monthly chart: Downward trend.

Intraday GBP/USD: A break below 1.2850 would trigger a pullback towards 1.2830. Short positions below 1.2905 with targets at 1.2850 and 1.2830 seem appropriate. If the pair rises above 1.2905, it will target 1.2920 and 1.2945.

British pound/US dollar pair on the monthly chart: Uptrend.

USD/CHF intraday: If the pair's technical recovery continues, it will be limited. Short positions below 0.9675 with targets at 0.9605 and 0.9575 appear appropriate. With a rise above 0.9675, the pair will target 0.9700 and 0.9720.

US dollar/CHF pair on the monthly chart: Downward trend.

–	Euro/British pound	Euro/Japanese yen	Euro/Swiss franc	Australian dollar/US dollar
Weekly trend	Up	Up	Up	Down
Monthly trend	Up	Down	Down	Down
200 days, skol. Wed	0.8565	121.09	1.0753	0.7558
3rd resistance	0.8810	125.30	1.0900	0.7495
2nd resistance	0.8790	125.05	1.0890	0.7475
1st resistance	0.8770	124.85	1.0875	0.7460
Pivot point*	0.8759	124.59	1.0869	0.7440
1st support	0.8735	124.35	1.0850	0.7415
2nd support	0.8710	124.10	1.0835	0.7390
3rd support	0.8695	123.70	1.0820	0.7370

Intraday EUR/GBP: The RSI lacks downward momentum. Long positions above 0.8735 with targets at 0.8770 and 0.8790 seem appropriate. With a decline beyond 0.8735, the pair will target 0.8710 and 0.8695.

Euro/British pound pair on the monthly chart: Uptrend.

Intraday EUR/JPY: If the pair's technical recovery continues, it will be limited. Short positions below 124.85 with targets at 124.35 and 124.10 seem appropriate. With a rise above 124.85, the pair will target 125.05 and 125.30.

Euro/Japanese yen pair on the monthly chart: Downward trend.

Intraday EUR/CHF: A break below 1.0850 would trigger a pullback towards 1.0835. Short positions below 1.0875 with targets at 1.0850 and 1.0835 seem appropriate. With a rise above 1.0875, the pair will target 1.0890 and 1.0900.

Euro/Swiss franc pair on the monthly chart: Downward trend.

AUD/USD pair during the day: The RSI gives positive signals and indicates that the pair is inclined to grow. Long positions above 0.7415 with targets at 0.7460 and 0.7475 seem appropriate. With a decline beyond 0.7415, the pair will target 0.7390 and 0.7370.

Australian dollar/US dollar pair on the monthly chart: Downward trend.

The pivot point is calculated as the sum of the high, low and closing level divided by three.

Technical analysis of seven major currency pairs for the week

Dow Jones Newswires Column by Jerry Tan

June 05 – June 09, 2017

US dollar/yen and US dollar/Canadian dollar pairs will test the strength of nearby supports

US DOLLAR/JAPANESE YEN

1st support level – 110.00 (important)

1st resistance level – 115.50 (moderate)

2nd support level – 108.00 (important)

2nd resistance level – 118.50 (important)

The pair is declining and may test the key support at 110.00, which limits downside potential. The Relative Strength Index (RSI) is sending mixed signals. Additionally, the 20- and 50-day moving averages are leveling off after recent gains. Thus, until the key support of 110.00 is broken, the pair’s prospects remain positive and the pair will target 115.50 and 118.50. A break below 110.00 will change the pair's outlook to negative, targeting 108.00 and then 105.50.

EURO/USD

1st support level – 1.0835 (important)

1st resistance level – 1.1300 (important)

2nd support level – 1.0675 (important)

2nd resistance level – 1.1465 (important)

The pair has risen above the upper boundary of the ascending channel and is prone to further growth. The RSI index remains firmly above the neutral level of 50 and lacks upward momentum. In addition, the upward momentum is strengthened by the rising averages for 20 and 50 periods. The level of 1.0835 limits the downside potential and as long as the pair does not fall below this level, we should expect further growth to 1.1300 and then to 1.1465. Only a break below 1.0835 will change the pair's outlook to negative and target the pair at 1.0675.

AUSTRALIAN DOLLAR/US DOLLAR

1st support level – 0.7295 (moderate)

1st resistance level – 0.7610 (important)

2nd support level – 0.7150 (important)

2nd resistance level – 0.7750 (important)

The pair is trading below its 50-day downward moving average and is trending lower. The RSI index is below its neutral level of 50 and lacks upward momentum. In addition, the level of 0.7610 acts as a key resistance and limits the growth potential. Until the resistance of 0.7610 is broken, the pair is likely to fall further to 0.7295 and then to 0.7150. Only a break above 0.7610 will change the pair's outlook to positive and target 0.7750.

NEW ZEALAND DOLLAR/US DOLLAR

1st support level – 0.6950 (important)

1st resistance level – 0.7250 (important)

2nd support level – 0.6810 (important)

2nd resistance level – 0.7380 (important)

The pair broke above the 20 and 50 day moving averages and is poised for growth. The 20-day moving average recently crossed upward from the 50-period moving average, which indicates the pair is on the rise. The RSI index is above the neutral level of 50 and lacks downward momentum. Until the support of 0.6950 is broken, we should expect further growth of the pair to 0.7250, and then to 0.7380. Only a break below 0.6950 will change the pair's outlook to negative and target 0.6810.

BRITISH POUND/US DOLLAR

1st support level – 1.2540 (important)

1st resistance level – 1.3075 (moderate)

2nd support level – 1.2350 (important)

2nd resistance level – 1.3500 (moderate)

The pair is inclined to grow and is trading above the 50-day rising average, which acts as support. The RSI index is above the neutral level of 50. Continued consolidation cannot be ruled out, but the space for this will be limited. The balance of risks is shifted towards growth until the level of 1.2540 is broken, we should expect further growth of the pair in the direction of 1.3075 and 1.3500. Only a break below 1.2540 will open the way for further consolidation towards 1.2350 and 1.1975 (January low).

US DOLLAR/SWISS FRANC

1st support level – 0.9530 (important)

1st resistance level – 0.9865 (important)

2nd support level – 0.9440 (important)

2nd resistance level – 1.0100 (important)

The pair is trending lower as the 20- and 50-day moving averages are adding to the downward momentum and the RSI is giving negative signals. Until the level of 0.9865 is overcome, we should expect a further fall to 0.9530, and then to 0.9440. A break above 0.9865 will change the pair's outlook to positive and target 1.0100.

US DOLLAR/CANADIAN DOLLAR

1st support level – 1.3400 (important)

1st resistance level – 1.3800 (important)

2nd support level – 1.3200 (important)

2nd resistance level – 1.3955 (moderate)

The pair is down from the May high of 1.3800, but is still trading above key support at 1.3400, which is limiting its decline. Even if the pair's consolidation continues, its scope will be limited. Until the level of 1.3400 is broken, we should expect further growth of the pair towards 1.3800, and then towards 1.3955. Only a break below 1.3400 will target the pair at 1.3200 and 1.3000.