*Daily Forex market overviews by MasterForex.com* - page 9
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TREND ANALYSIS OF THE USDJPY FOR 12/10/10
USDJPY
On the 4-hour chart:
Yesterday growth finished at the mark 78.39. The pair started the falling, but met the support at the level 78.16. The total dynamics for last day could be characterized as a flat. The moving averages are also showing the horizontal tendency.
On the 1-hour chart:
After the recoil from the resistance line 1, the pair was lowering until the level 78.16, where turned to flat. The fluctuating corridor was restricted by the levels 78.28 and 78.19. The moving averages changed the tilt to the horizontal, confirming flat.
On the 15-minute chart:
During the Asian session, the pair was fluctuating between the levels 78.28 and 78.19. In case of piercing of corridor border up- or downwards, the pair will meet the levels 78.33 and 78.16 respectively. Speculators will probably refrain from trading until the end of flat.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/10/10
USDCHF
On the 4-hour chart:
The channel between the lines 1 and 2 had been formed during the growth and the pair broken the middle-term trend line 3. The price is approaching to the resistance line 4 at the moment. The break through the trend line and the level 0.9385 had been a clear signal for the end of the bearish trend. The Moving Averages gave the signal for bullish trend.
On the 1-hour chart:
The pair broke the resistance line 1 and the level 0.9390 at the second part of Tuesday. That was a reverse signal. The Moving Averages gave a bullish signal. The pair is correction in the direction of the level 0.9405 at the moment.
On the 15-minte chart:
The correction is remaining at the moment. If the support line 1 and the level 0.9405 could be broken, the decrease will remain. The large flat will form in the case. If the pair could finish the correction and could break the line 3 and the level 0.9430, the trend will continue.
By MasterForex Company
TREND ANALYSIS OF THE GBPUSD FOR 12/10/10
GBPUSD
On the 4-hour chart:
Downward trend is remaining at the moment. The support line of the bearish channel had moved from the line 1 to the line 3 during the decrease. Moreover the pair lowered to the level 1.5990 and recoiled above the line 1 after that. The Moving Averages show strong bearish trend.
On the 1-hour chart:
The pair began to test the support level 1.5990 at the second part of Tuesday. It was a rebound after unsuccessful tests of the level. The support line 1 had been formed as a result of the rebound. The pair increased above the lines 2 and 3 and reached the level 1.6020 during the upward dynamics. The Moving Averages show the remaining of the downward trend.
On the 15-minute chart:
The pair is decreasing at the moment after the rebound from the level 1.6020. If the level 1.5990 could be broken the pair will continue to decrease. It will be expected the constriction of the bearish channel in the case. If the price could arrive above the line 2 and 3 on the 1-hour chart and could break the resistance level 1.6020, traders will expect the recoil to the resistance line 2 on the 4-hour chart.
By MasterForex Company
TREND ANALYSIS OF THE EURUSD FOR 12/10/10
EURUSD
On the 4-hour chart:
The short-term downward tendency is remaining now. The price dropped below the levels 1.2900 and 1.2885 as well as below the line 4 during the decrease. The Moving Averages gave a bearish signal.
On the 1-hour chart:
The pair rebounded upwards from the support level 1.2925 and reached the level 1.2950 at the second part of Tuesday. The bearish dynamics continued after the level had been confirmed as a resistance. As a result, it had been formed the high border of the downward channel. The price decreased to the support level 1.5845 at the beginning of Wednesday. After that the dynamics reversed in the upward direction. The resistance line 1 had been broken to the moment and the pair recoiled to the resistance line 2. The Moving Averages show strong bearish trend.
On the 15-minute chart:
The price is testing the line 1 at the moment. If the pair could foothold above the line, the growth will continue. In the case of the rebound the downward tendency will continue. The final signal for the continuation of the tendency will be the break through the level 1.2845.
By MasterForex Company
TREND ANALYSIS OF THE USDCAD FOR 12/10/11
USDCAD
On the 4-hour chart:
The pair was growing during the week forming herewith the ascending trend channel by the support line 1 and resistance line 2. The price started to test the resistance line 3. The moving averages continue the turnover upwards.
On the 1-hour chart:
The pair continues to move within the ascending channel between the lines 1 and 2. Now the pair is in the phase of deep correction of the bullish trend. The support line 1 is under the intensive testing. The moving averages started to change the direction aside the falling.
On the 15-minute chart:
The lowering within the correction of ascending trend pair is now testing the support line 1, which backed by the area 0.9799/92. In case of piercing, the traders will receive the selling signal. Otherwise, if the support will be confirmed, speculators can resume buying.
By MasterForex Company
TREND ANALYSIS OF THE AUDUSD FOR 12/10/11
AUDUSD
On the 4-hour chart:
The growing pair pierced the resistance line 1, gained for the last day about 70 pips. The weekly high was recorded at the mark 1.0285. The moving averages continue the slow turnover suggesting the end of the bearish trend.
On the 1-hour chart:
For the last three days, the pair formed the support line 1 and resistance line 2, which are the borders of the ascending trend channel. Now the price is testing the resistance area 1.0271/78. The moving averages are showing the ascending trend.
On the 15-minute chart:
The pair was growing confidently within the Asian session, but met the resistance in the area 1.0271/78, which is under testing now. In addition, the price got close to the resistance line 1. Piercing of the resistance area will be a signal of the growth resumption.
By MasterForex Company
TREND ANALYSIS OF THE USDJPY FOR 12/10/11
USDJPY
On the 4-hour chart:
The pair, which resumed the falling, pierced the important support level 78.16. The price in total lost about 30 pips. The nearest support lies at 77.91. The moving averages are ready to provide a bearish signal.
On the 1-hour chart:
On the second half of Wednesday, the forming of descending channel started by the lines 1 and 2. At the end of Asian session, the pair pierced the resistance line 1 and rushed up. The moving averages, which had been showing the confident bearish trend, started the turnover.
On the 15-minute chart:
After the recoil from the support line 1 and piercing the resistance 2, the growing pair returned the most part of daily losses. Speculators will probably continue to buy with aim at 78.16. The piercing of that resistance will open the way to the area 78.28/33.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/10/11
USDCHF
On the 4-hour chart:
Traders obtained the signal for the break of the short-term upward trend. The support line and the level 0.9385 had been broken. Moreover, it had been formed the resistance line 4. The Moving Averages show the slowdown of the growth.
On the 1-hour chart:
The pair decreased to the support level 0.9380 at the end of Wednesday. After that it was a recoiled above the level 0.9405 and the price continued to decrease with the formation of the resistance line 2. The pair decreased below the level 0.9380 and continued the bearish dynamics. The Moving Averages show the reverse of the dynamics direction downwards.
On the 15-minte chart:
The pair is remaining to decrease. Traders gained the signal for the formation of the bearish trend after the break through the level 0.9380. If the pair could foothold below the level, the decrease will remain. If the pair could arrive back to the line 1 and could break it, traders will obtain the signal for the reverse in the upward direction.
By MasterForex Company
TREND ANALYSIS OF THE GBPUSD FOR 12/10/11
GBPUSD
On the 4-hour chart:
The pair arrived into the bearish channel between the lines 1 and 2. The level 1.5990 had been reached during the decrease. After that it started the correction. The Moving Averages show the slowdown of the trend.
On the 1-hour chart:
The pair started the correction after the rebound from the level 1.5990 at the first part of Wednesday. The price recoiled to the resistance level 1.6020 during the growth. After that the pair rebounded downwards to the support line 2 and continued to correct. The second testing of the resistance level had been at the beginning of Thursday; however the price recoiled downwards once again. Thus, it could be concluded about the consolidation near the level 1.6020. The Moving Averages show the reverse of the dynamics direction.
On the 15-minte chart:
The testing of the consolidation level is remaining at the moment. If the pair could break it, traders will start to open long positions with the target at the resistance line 2 on the 4-hour chart. If the level could not be broken, traders will gain the signal for the weakening of the bearish tendency. As a result, it could be expected the constriction of the downward channel. The formation of the flat could be expected as well.
By MasterForex Company
TREND ANALYSIS OF THE EURUSD FOR 12/10/11
EURUSD
On the 4-hour chart:
The pair is correcting for the next time during the downward trend. The price propped to the level 1.2840 and recoiled upwards after the break through the resistance line 3. The trend channel between the lines 1 and 2 had formed finally to the moment. The Moving Averages show the remaining of the bearish tone.
On the 1-hour chart:
The trend between the lines 1 and 2 is remaining. The pair corrected to the resistance level 1.2900 at the end of Wednesday. After that the price slipped below the level 1.2840. However, the level had not been broken and the price recoiled to the level 1.2865.The Moving Averages show the approach of the bearish trend.
On the 15-minute chart:
The pair is correction in the channel between the lines 1 and 2 at the moment. Herewith it will start the testing of the resistance line of the short-term trend 3 in the near future. If the pair could break through the line and could foothold above the level 1.2910, traders will gain two clear signals for the reverse of the dynamics upwards. If it could be the rebound and the line 1 could be broken, players will start the sales.
By MasterForex Company