MySmartFx_Ind

Potential Inverse Head And Shoulders Pattern On GBPUSD
 
March 2011, 14
 
GBPUSD
 
http://www.mysmartfx.com/assets/2011/03/gu%203-14-2011%2010-23-11%20AM.png
 
Hourly chart of cable potentially form Inverse Head And Shoulders pattern with the neckline area around 1.6109 as the bearish trendline area. If the neckline area is penetrated, Cable potentially continued the upwards aiming the resistance at 1.61403 up to 1.61790. It is also confirmed by Stochastic was on the oversold and potentially trigger a bullish movement. But if the resistance is survive, Any chances for a bearish movement to 1.60389 until 1.59763.
 
EURUSD
 
http://www.mysmartfx.com/assets/2011/03/eu%2014_MARCH_2011.png
 
EURUSD formed a flag pattern on 4-hourly chart and the current movement of EURUSD is testing the resistance at 1.3959. Any breach the resistance potential to trigger the further upwards aiming the resistance at 1.4035. Be alerts a pullback to the support area at 1.3873 until the upper flag area if the resistance able to survive.
 
USDJPY
 
http://www.mysmartfx.com/assets/2011/03/uj%203-14-2011%2010-35-54%20AM.png
 
Today USDJPY have a significant strengthen and the current movement of USDJPY is testing the resistance at 82.301. If the resistance is survive, any chances for a bearish movement to 81.694 until 81.318. It is also confirmed by CCI and Stochastic was on the overbought area. But if the movement penetrated the resistance, there are opportunities a further upwards aiming the resistance at 82.677 up to 83.285.
 
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Euro Stuck Firmly At 1.3973
 
March 04, 2011
 
EURUSD
 
http://www.mysmartfx.com/assets/2011/03/EURUSD%204%20MAR%202011.png
 
Currently, euro stuck firmly at resistance area of Andrew Pitchfrok with indication euro will correction to median line. Technically, the stochastic indicator is in overbought. But if resistance at 1.3973 penetrated then pound will strengthen up to 1.4030.
 
GBPUSD
 
http://www.mysmartfx.com/assets/2011/03/GBPUSD%204%20MAR%202011.png
 
GBPUSD is in still sideways condition. Technically, the stochastic indicator is in potentially bullish. Any breach of 1.6342 will bring pound strengthen up to 1.6525. But if support at 1.6251 penetrated, then pound will weaken to 1.6076.
 
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Pound Will Rising
 
March 03, 2011
 
GBPUSD
 
http://www.mysmartfx.com/assets/2011/03/GBPUSD%203%20MAR%202011.png
 
This afternoon, GBPUSD movement looks in above median line of Andrew Pitchfrok. Technically, the stochastic indicator is in overbought condition with indication pound will correction to 1.6233. Conversely, any breach of resistance 1.6343 will bring pound strengthen up to 1.6536.
 
EURUSD
 
http://www.mysmartfx.com/assets/2011/03/EURUSD%203%20MAR%202011.png
 
Today, euro looks potentially will rise. Technically, the stochastic indicator is in overbought condition. Any breach of support at 1.3837 will bring euro weaken to 1.3763. But if resistance at 1.3922 penetrated then euro will strengthen up to 1.4030.
 
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Euro & Sterling Testing The Resistance Area
 
February 15, 2011
 
EURUSD
 
[spoiler=Smart Review]http://www.mysmartfx.com/assets/2011/02/eu%202-15-2011%2010-08-26%20AM.png
 
EURUSD succeed rebound aim the resistance area at 1.3548 after previously corrected at yesterday trading session. Technically a bias of EURUSD still likely bullish like a CCI and Stochastic still move up. If the resistance area is penetrated, it can trigger the further strengthen to the area 1.3622. On the contrary if the resistance able to survive, any chance for the correction to 1.3427 to 1.3353.
 
 
GBPUSD
 
[spoiler=Smart Review]http://www.mysmartfx.com/assets/2011/02/gu%202-15-2011%2010-19-03%20AM.png
 
GBPUSD still consistently moves on the bearish channel area. The current movement of GBPUSD is likely bullish aiming the resistance line of andrew’s pitchfork like in the above projection. It is also reinforced by CCI and Stochastic still move up. If the resistance is penetrated, it can trigger the further strengthen to 1.6120 up to 1.6157. On the contrary if the resistance line able to survive, any chances for the correction aim the median line of andrew’s pitchfork to the support area at 1.5962.
 
 
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Aussie Re-Test Parity Level
 
February 16, 2011
 
AUDUSD
 
[spoiler=Smart Review]http://www.mysmartfx.com/assets/2011/02/au%202-16-2011%2010-19-30%20AM.png
 
The current movement of Aussie re-test the parity level (1,0000) As the resistance area. Technically refers y CCI and Stochastic movement was on the overbought area, Aussie potentially correction to the support at 0.9970 to 0.9943. However, be alert a further strengthen to the trendline area if the parity level is passes.
 
 
 
EURUSD
 
[spoiler=Smart Review]http://www.mysmartfx.com/assets/2011/02/eu%202-16-2011%209-58-02%20AM.png
 
EURUSD is likely bullish testing the resistance at 1.3548. Technically if the resistance is survive, the movement of EURUSD potentially correction aiming the support area at 1.3428. It is also reinforced by CCI and Stochastic movement was approach the overbought area. But if the resistance is penetrated, it can trigger the further strengthen to 1.3623.
 
 
 
GBPUSD
 
[spoiler=Smart Review]http://www.mysmartfx.com/assets/2011/02/gu%202-16-2011%2010-10-49%20AM.png
 
Cable entry the consolidation phase around 1.6122 to 1.6171. Technically refers by CCI and Stochastic movement was on the overbought area, Cable potentially down aiming the support at 1.6122 if the resistance is survive. On the contrary if the resistance penetrated, it can trigger the further strengthen to 1.6220.
 
 
 
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AUDUSD
 
http://www.mysmartfx.com/assets/2011/02/AUDUSD_3_FEB_2011.png
 
Australian dollar is still holding on the parity level against USD. Correction possibly will occur to the support area at 1.0080 as hourly stochastic and CCI indicate overbought state. Bias is neutral for the time being with deeper correction potential to the 1.0039 area if 1.0080 breaks.
 
GBPUSD
 
http://www.mysmartfx.com/assets/2011/02/GBPUSD_3_FEB_2011.png
 
Sterling is still holding on the high level against USD with 1.6228 as the resistance. A break of this resistance would be potential to trigger further bullish move up to the 1.6359 area. Anyhow, correction to the support area at 1.6406 is still possible considering 4 hours stochastic and CCI maintain bearish correction signal.
 
EURUSD
 
http://www.mysmartfx.com/assets/2011/02/EURUSD_3_FEB_2011.png
 
EURUSD is seen moving in bullish channel on the 4-hourly chart. There is a potential for a pullback to the support area at 1.3749 – 1.3680 before continues the bullish movement to the 1.3790 – 1.3860 area. Nevertheless, a break of the support area would be potential to be followed by deeper correction to the next support area at 1.3569.
 
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February 4, 2011
 
AUDUSD
 
http://www.mysmartfx.com/assets/2011/02/AUDUSD_4_FEB_2011.png
 
Australian dollar is still hovering at the parity level against USD with immediate resistance at 1.0193. A break of this resistance is expected to push the Aussie higher to the 1.0231/USD. However, correction is potential to the trendline or support area at 1.0140 as bearish signal given by stochastic and CCI.
 
EURUSD
 
http://www.mysmartfx.com/assets/2011/02/EURUSD_4_FEB_2011.png
 
Bullish channel on the 4-hourly chart has broken and EURUSD is testing resistance level at 1.3638 as an attempt to make a pullback move to the resistance area at 1.3749. However, a break of the support at 1.3638 possibly would be the confirmation that the downtrend ends and the price likely moves to 1.3426.
 
GBPUSD
 
http://www.mysmartfx.com/assets/2011/02/GBPUSD_4_FEB_2011.png
 
Correction occurs from the resistance at 1.6277. Immediate support is at 1.6075 where a break of it possibly will cause deeper correction to the rising trendline area. However, 4 hours stochastic and CCI begin to produce bullish signal so if the support holds the uptrend likely will continues to 1.6277.
 
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