EURO/USD Currency pair Forex Technical Report for Tuesday, February 10 2015

EUR/USD

Trend:

The trend of EUR/USD is majorly bearish, but the pair is not sustaining at lower levels, we can expect a short term recovery in the currency pair for next few trading sessions. Today if the pair breaks the important level of 1.1365 at upside then we can expect it to test the level of 1.1395/1.1430. Prices are taking support of 30 SMA & can come up to test the falling trendline.

RSI is also sustaining in buying territory supporting the ongoing trend. MACD line is to break the zero line,indicating the up trend in the market.

 

Technical Chart

Trading Strategy :- 

EUR/USD is not sustaining at lower level & looking bullish on charts. One can go long on dips strategy for this pair for intra day to mid term positions.

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Forex Technical Report for GBP/USD pair on Wednesday, February 04 2015

 

GBP/USD

SUMMARY:

The major trend of GBP/USD is bearish, From past few weeks prices are not sustaining at lower levels & consolidating with a positive bias. In its hourly chart prices are taking resistance of falling trendline & gaining strength to break it up side. Today if the pair breaks the psychological level of 1.5200 then, we can expect it to test the level of 1.5270/1.5300.

RSI is sustaining in buying territory supporting the positive side movement in the pair. MACD line is also sustaining above the zero line,indicating the same.

STRATEGY :- GBP/USD is successfully sustaining on higher level & looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.

Technical Chart

GBP/JPY Forex Technical Report on Monday, February 02 2015

SUMMARY :- The secondary trend of GBP/JPY is bearish, The pair is taking support of rising trend line & consolidating with a negative bias. If the pair sustains below 175.70 levels, it can come down to the levels of 174.50. Prices are also taking the resistance from 30 SMA & 200 SMA, supporting the downside movement in the pair. RSI is also sustaining in selling territory, indicating the bearish sentiment in the market.

STRATEGY:- For Today GBP/JPY is looking weak on chart. We can expect downside movement for few upcoming session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

Technical Chart