Forex4you Technical Analysis 25/06/10
GBP/USD: Technical Analysis
The formerly made forecasts come true – the resistance at the reached degrees caused the downgrading rollback, the price sank down to the support at 1.4920/10 at first, but later went ahead sagging after giving the matter some thoughts. Up to now it has approached to the previously appointed target, 1.4870, so the trading is currently carried at 1.4880/85. The indicators demonstrate the reversal and that derogates the expectances of checking up of 1.4800 in case of the breach of the support at 1.4870, what has also been mentioned in the previous analysis. At the same time, there’s a powerful support at 1.4870, and so, the comeback to the upturn is certainly possible out of this obstacle. As it seems, however, the “bullish” prospects may be based upon the resistance at 1.5050/40 only still yet.
EUR/USD: Technical Analysis
The yesterday mentioned “bearish” scenario was cancelled by reason of the breach of the resistance at 1.2340/45. However, it occurred to be deferring of the accomplishment rather than cancellation, because the trades dropped down again and has already breached the support at 1.2300, so the price currently resides at 1.2280/90. The indicators’ values still show the market ambiguity, though they heighten the weakness mood. The yesterday forecasts of checking the key support at 1.2240/50 in the closest time are still relevant. In case of its breach the way to 1.2150/10 will open.
USD/JPY: Technical Analysis
The formerly checked support at 89.30 is showing its endurance: the price has rolled back upward and currently resides at 89.60/50. The indicators begin to mark the weakening of the “bearish” tune and that in its turn reasons the probability of the long term sideways retracement within the range edged between the resistance at 89.90/80 and support at 89.30. The breach of this support will determine the accomplishment of the next stage of the weakness – till 88.20/30; on the contrary, the upturn above 89.90/80 will point to the risks of one more advance till 90.80, i.e., the trend line of the short term descendant channel (the red lines).