Wednesday, January 19, 2011
Some more signals for you
EUR/CHF: Recovery back towards 1.2950/55 resistance zone, implies uptrend still dominant. We continue to expect an upside break and continuation towards 1.3208.
EUR/GBP: Market continues to coil higher. Risk today is initially to 61.8% retracement at .8435 and then to .8464, the 78.6% retracement resistance.
EUR/JPY: Uptrend continues, with the market prodding marginally above 78.6% Fibonacci retrace at 111.06 to a high of 111.17. Risk remains higher to 111.95/112.22.
EUR/SEK: Coiling continues, with market trapped between 8.9352 resistance and 8.8915 support. Broad risks remain through 8.9352 to 9.0193/9.0205 resistance.
EUR/NOK: Consolidation continues but, after finding support at 7.7790, broad risks remain higher through 7.8878.
AUD/NZD: Market probing medium-term downward trendline around 1.2970. We expect upside risk to be capped by 1.2993 resistance and for a re-test of 1.2828 to occur.
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