Crown Forex Signal 24 Sept 2007

Signal Forex



EURO

The European currency managed to move in an irregular movement last week to record and all time high. Today the euro is expected to continue the upside move as the euro couldn’t breach the major up trend line beside the technical parameters that indicate the upside potential until 1.4200 levels .

The trading range for today might be between the key resistance level at 1.4250 and the key support level at 1.4050.


The general trend is up as far as 1.3600 remains intact targets now at 1.4500 and 1.4885.

Support 1.4068 1.4033 1.4000 1.3975 1.3945
Resistance 1.4099 1.4125 1.4150 1.4175 1.4200

Recommendation

We expect buying Euro above 1.4100 with a target at 1.4175, stop loss below 1.4070.

GBP

The British pound managed to move towards the upside in a bullish pattern after it built the base above the major level last week at 2.0200. However, the pound has a tough level at 2.0280 that might bother the pound while in its upside move.

The trading range for today might be between the key resistance level at 2.0335 and the key support level at 2.0160.

The general trend is up as far as 1.9650 remains intact targets now at 2.0635 and 2.0740.

Support 2.0165 2.0120 2.0060 2.0035 2.0000
Resistance 2.0188 2.0220 2.0250 2.0270 2.0320

Recommendation

We expect buying sterling above 2.0120 with a target at 2.0280, stop loss below 2.0080.

JPY

The dollar against the Japanese yen arranged a strong drop with high levels of volume and volatility. Due to that, the pair hit the low at 114.60 last Friday. Today the pair seems to continue towards the major support at 114.20s.

The trading range for today will be between the key resistance at 115.70 and the key support at 114.00.


The general trend is down as far as 124.60 remains intact, targets at 112.60 and 111.30.

Support 114.50 114.30 114.00 113.70 113.50
Resistance 114.85 115.15 115.35 115.50 115.75

Recommendation

We expect selling USD/JPY below 115.20 with a target at 114.50, stop loss above 115.60.

CHF

The dollar against the SWISS Frank last week found tendency to move in a bearish pattern hitting the major support level at 1.1680s. This move affected the technical indicators to make some adjustments to show the downside potential for today.

The trading range for today will be between the key resistance at 1.1800 and the key support at 1.1570.

The general trend is down as far as 1.2540 remains intact, targets at 1.1575 and 1.1265.

Support 1.1702 1.1685 1.1660 1.1635 1.1609
Resistance 1.1725 1.1742 1.1785 1.1809 1.1832

Recommendation

...

CAD

The dollar against the Canadian Dollar managed to move in a bearish move last week using the weakness of the US dollar to hit new records. The trend analysis still show the strength of the downside move which in role might lead the pair to get more new records.

The trading range for today will be between the key resistance at 1.0070 and the key support at 0.9885.


The general trend is down as far as 1.0540 remains intact, targets will be at 0.9800 and 0.9650.

Support 0.9990 0.9965 0.9938 0.9915 0.9885
Resistance 1.0020 1.0056 1.0080 1.0105 1.0122

Recommendation

...




By: Crown Forex

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