TECHNICAL ANALYSIS

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Mid

Long

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AUDJPY

05 Feb, 21:36

82.41

0.96

80.78

82.10

83.42

80%

50%

100%

80%

34%

66%

AUDUSD

05 Feb, 21:39

1.0760

0.47

1.0619

1.0741

1.0863

80%

100%

96%

69%

31%

EURAUD

05 Feb, 21:58

1.2229

-37

-0.31

1.2085

1.2237

1.2389

100%

75%

100%

96%

33%

67%

EURCHF

05 Feb, 21:57

1.2079

0.26

1.2032

1.2069

1.2105

20%

75%

67%

56%

15%

85%

EURGBP

05 Feb, 21:57

0.8311

-2

-0.03

0.8267

0.8313

0.8359

60%

75%

67%

72%

42%

58%

EURJPY

05 Feb, 21:56

100.80

0.63

99.60

100.52

101.44

20%

75%

67%

40%

37%

63%

EURUSD

05 Feb, 22:00

1.3158

0.12

1.3015

1.3139

1.3263

20%

25%

67%

57%

43%

GBPCHF

05 Feb, 22:05

1.4514

0.19

1.4412

1.4504

1.4595

20%

25%

67%

24%

54%

46%

GBPJPY

05 Feb, 22:04

121.16

0.60

119.88

120.89

121.90

40%

25%

32%

35%

65%

GBPUSD

05 Feb, 21:40

1.5812

0.05

1.5698

1.5807

1.5915

40%

50%

33%

48%

60%

40%

NZDUSD

05 Feb, 22:03

0.8356

0.32

0.8260

0.8343

0.8425

80%

100%

96%

63%

37%

USDCAD

05 Feb, 21:41

0.9939

-51

-0.52

0.9861

0.9966

1.0071

80%

100%

96%

33%

67%

USDCHF

05 Feb, 21:47

0.9174

0.10

0.9084

0.9180

0.9277

60%

50%

67%

32%

42%

58%

USDJPY

05 Feb, 21:59

76.60

0.51

75.89

76.49

77.08

20%

75%

33%

48%

16%

84%

Buy

Sell

Hold

Sell(%)

Buy (%)

DAILY TECHNICAL OUTLOOK

Currency Majors Technical Perspective

Fri, Feb 3 2012, 14:36 GMT
by Valeria Bednarik (FXstreet.com Independent Analyst Team)

EUR/USD Current price: 1.3085

View Live Chart for the EUR/USD

US employment data shook the markets with a much better than expected reading, 243K new jobs added and unemployment rate down to 8.3%. Despite a risk on spike in the EUR/USD towards 1.3200, the pair is now under strong selling pressure testing 1.3070 support area, as QE3 chances had fade. Hourly chart in the pair shows an increasing bearish tone with indicators below their midlines and price below 20 SMA: expect a clear break of this last to see an approach to the 1.3000/20 price zone.

Support levels: 1.3070 1.3020 1.2980

Resistance levels: 1.3105 1.3140 1.3185

GBP/USD Current price: 1.5765

View Live Chart for the GBP/USD (Select the currency)

With GBP/USD turning lower since late past American session, dollar strength has pushed the pair below the base of the ascendant channel that lead the way since mid January, with a strong bearish tone in the hourly chart as per technical readings. The upside now, should remain limited by 1.5800 where the pair may complete a pullback to the base of the channel, while the bearish bias will likely prevail till the day close.

Support levels: 1.5740 1.5710 1.5665

Resistance levels: 1.5770 1.5800 1.5830

USD/JPY Current price: 76.67

View Live Chart for the USD/JPY (select the currency)

US yields soared with the news and so did USD/JPY that broke above the 76.50 level, turning strongly bullish in the short term according to hourly chart. In bigger time frames, the pair is also giving signs of bottoming and of increasing upward pressure, supporting and approach to the 77.00 area tops for today.

Support levels: 76.50 76.25 76.00

Resistance levels: 76.80 77.05 77.30

USD/CHF: Current price: 0.9214

View Live Chart for the USD/CHF (select the currency)

The USD/CHF reached 0.9130 static resistance area before stalling, entering American session just above 0.9200 and biased higher according to the hourly chart, as per price well above 20 SMA and indicators breaking above their midlines. The 4 hours chart shows the pair trading mostly in last days range, with no strong buying signs yet, as per indicators not reflecting recent movements. However the upside is open as long as above 0.9190, with scope to reach the 0.9300 strong psychological resistance zone.

Support levels: 0.9190 0.9160 0.9130

Resistance levels: 0.9230 0.9265 0.9300

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OTHER DAILY TECHNICAL OUTLOOK

Fri, Feb 3 2012, 12:45 GMT EURUSD - The Classic Formation set to SHAFT the Market!

Fri, Feb 3 2012, 08:34 GMT Strategy for today: short USD/CHF

Fri, Feb 3 2012, 06:21 GMT Currency Majors Technical Perspective

Thu, Feb 2 2012, 22:39 GMT Currency Majors Technical Perspective

Thu, Feb 2 2012, 15:39 GMT GBPJPY - More consolidation short term

Thu, Feb 2 2012, 14:19 GMT Currency Majors Technical Perspective

Thu, Feb 2 2012, 11:24 GMT USD/CHF: Further weakness anticipated towards 0.8800

EXPERT PICK

Ilya Spivak
Global Macro
Stay Short EURUSD
Period:1 week - 6 months

Release:04 Feb 2012, 19:04 >> Analysis

I initially sold EURUSD at 1.3526. Prices have now completed a bearish Three Inside Down candlestick pattern below resistance at 1.3231, the late-November swing bottom and my revised stop-loss level, hinting the corrective upswing that played out over the past two weeks may be running out of steam. I will continue to hold short, revising my soft target slightly higher to 1.2623, the latest swing low. A daily close above 1.3231 triggers the stop-loss. Initial support lines up in the 1.2927-2966 area. ...SEE CHART HERE

	Jamie Saettele, CMT Technical trade a EURUSD break Period:1 week
Release:04 Feb 2012, 19:04 >> Analysis Use the first day of the month as an opening range from which to play breakouts. That range is 13218-13025. An upside break targets 13400/50 and a downside break 12875.In summary: Long on a break above 13218, target 13435 (stop 13110)Short on a break below 13025, target 12880 (stop 13150)

Joel Kruger
Technical Analysis
Look to Buy USD/JPY
Period:5 Days

Release:04 Feb 2012, 19:04 >> Analysis

We will hold off for now with a retest of the October record lows seeming likely. However, we still think this market is in the process of attempting to carve out a more complex bottoming pattern ahead of a major bullish trend reversal over the coming months. As such, our strategy will be to look for a break of the record low and some stretched daily studies and then look to establish a fresh counter-trend long.

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