(Ranges are calculated using recent high and lows and technical analysis - Fibonacci levels, trendlines and moving averages.)
USD/JPY Intraday: continuation of the rebound. USD/JPY keeps rebounding from Friday's low of 118.27 and is challenging the first resistance at 119.2. The pair's bullishness is confirmed by the 20-period (intraday) moving average's breaking above the 50-period MA. Meanwhile the RSI stands firmly above its neutrality area at 50. As long as 118.6 remains a key support, we suggest LONG positions with targets @ 119.2 & 119.45 in extension. Below 118.6 look for further downside with 118.25 & 118 as targets.
EUR/USD Intraday: the bias remains bullish. EUR/USD turned up on Friday after the Greek government secured a 4-month extension to its bailout. The 20-period moving average has just broken above the 50-period MA, confirming the pair's bullishness. While a consolidation is under way, its extent should be limited. As long as the key support at 1.1345 holds, we suggest LONG positions with targets @ 1.1445 & 1.15 in extension. Below 1.1345 look for further downside with 1.1275 & 1.1255 as targets.
AUD/USD Intraday: further advance. AUD/USD keeps challenging the first resistance at 0.785, while the 50-period moving average acts as support. The RSI is around its neutrality area of 50, suggesting a consolidation is possible before an upward break-out. We suggest LONG positions above 0.7795 with targets @ 0.785 & 0.7875 in extension. Below 0.7795 look for further downside with 0.777 & 0.775 as targets.
NZD/USD Intraday: intraday support at 0.7505. A support base at 0.7505 has formed and has allowed for a temporary stabilisation. Intraday technical indicators (20-, 50-moving averages, RSI) are mixed and a consolidation to the key support is possible. As long as 0.7505 is not violated, we suggest LONG positions with targets @ 0.7575 & 0.762 in extension. Below 0.7505 look for further downside with 0.747 & 0.744 as targets.
GBP/USD Intraday: the bias remains bullish. GBP/USD remains on the upside of the key support at 1.5335. Intraday technical indicators (20-, 50-moving averages, RSI) are mixed and a consolidation following last Friday's gains is possible. Above the key support at 1.5335, we suggest LONG positions with targets @ 1.5435 & 1.546 in extension. Below 1.5335 look for further downside with 1.531 & 1.527 as targets.
USD/CHF Intraday: under pressure. USD/CHF has broken below its 20-period and 50-period moving averages and remains under pressure. Meanwhile, the RSI is below its neutrality area at 50. Thus, a break below 0.9365 would trigger a drop towards 0.9335. We suggest SHORT positions below 0.945 with targets @ 0.9365 & 0.9335 in extension. Alternatively, a break above 0.945 would call for further upside with 0.95 & 0.9535 as targets.
USD/CAD Intraday: rebound. USD/CAD turned up after Canada's government reported that December retail sales drop 2.0% MoM (vs -0.4% expected, +0.4% in November). The pair has broken above its previous resistance and remains on the upside. The 20-period moving average has crossed above its 50-period one calling for further bounce. Besides, the RSI is above 50 and is well directed. We therefore favor LONG positions above 1.2465 with targets @ 1.2555 & 1.26 in extension. Below 1.2465, look for further downside with 1.2425 & 1.2395 as targets.
EUR/JPY Intraday: further advance. EUR/JPY stands above its 20-period and 50-period moving averages and remains on the upside. In fact, the 20-period moving average has just crossed above the 50-period one, calling for further advance. Also, the RSI is bullish and calls for further upside. We suggest LONG positions above 134.6 with targets @ 135.85 & 136.25 in extension. Below 134.6, look for further downside with 134.15 & 133.5 as targets.
EUR/GBP Intraday: the upside prevails. EUR/GBP stays above its 20-period moving average, which has just crossed above its 50-period one. Thus the upside prevails. Meanwhile, the RSI is above its neutrality area of 50 lacking downward momentum. We suggest LONG positions above 0.734 with targets @ 0.743 & 0.7445 in extension. Alternatively, a drop below 0.734 would call for further downside with 0.7315 & 0.7285 as targets.
TRADING Central (www.tradingcentral.com) is a commentary service specializing in technical analysis.
(The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterized by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable. This is a financial news and information service. It is provided in general terms and does not take account of or address any individual user's position. To the extent that this article includes suggestions as to various possible investment strategies which users might consider, it does so in only general terms without reference to the personal factors which should determine any user's investment decisions. Nothing contained in this service constitutes personalized investment advice. Dow Jones does not warrant the accuracy, completeness or timeliness of the information in this article, and any errors shall not be made the basis for any claim against Dow Jones. The author does not invest in the instruments or markets cited in this article. This article does not constitute or form part of any invitation or inducement to buy or sell any security.)
(END) Dow Jones Newswires
February 22, 2015 21:24 ET (02:24 GMT)
#EuroGains
#FX
#Forex
#BailoutStretch
#GreekWorries
0 Response to "Euro Gains on Greek Bailout Stretch -- Asia Daily Forex Outlook"
Thanks for give comment.