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Linked Fibonacci Article (doesn't mention Fibonacci)

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Feb 22nd, 2012
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  1. Previous Next Spot Gold market pin bar setup
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  29. FXstreet.com Independent Analyst Team Wed, Feb 22 2012, 14:29 GMT
  30. by Valeria Bednarik - FXstreet.com Independent Analyst Team | View company's profile
  31. Vote:
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  38. EUR/USD Current price: 1.3235
  39. View Live Chart for the EUR/USD
  40.  
  41. Despite ongoing risk aversion among major markets, the EUR/USD trades in a quite limited range, just above the 1.3200 mark. Early Europe, euro zone PMI figures unexpectedly contracted, while Flitch rating agency announced today that it had downgraded Greece's credit rating from 'CCC' to 'C', because in its opinion a "default is highly likely in the near term." The EUR/USD hourly chart however, shows indicators flat around their midlines and price hovering around an also flat 20 SMA, lacking strength either side of the board. In the 4 hours chart price is finding support in a still bullish 20 SMA that converges with the 23.6% retracement of latest daily run around 1.3210, although indicators had turn south and approach their midlines. Below 1.3180, recent lows and 38.2% of the same rally, the pair may accelerate lower.
  42.  
  43. Support levels: 1.3210 1.3180 1.3140
  44.  
  45. Resistance levels: 1.3275 1.3320 1.3355
  46.  
  47. GBP/USD Current price: 1.5672
  48. View Live Chart for the GBP/USD (Select the currency)
  49.  
  50. Pound was hit today by BOE Minutes, showing 2 of the 9 members voted for even more facilities in the last economic policy meeting. The GBP/USD has lost around 150 from pre news levels, holding a strong bearish tone according to hourly indicators that reached oversold levels. 20 SMA above current price gains bearish slope, while in bigger time frames the technical outlook is also strongly bearish, as price also broke below 200 EMA, currently around 1.5700 and immediate resistance zone. Early month low around 1.5640 is next support, while a break below it should lead to more falls in price.
  51.  
  52. Support levels: 1.5640 1.5600 1.5550
  53.  
  54. Resistance levels: 1.5700 1.5730 1.5770
  55.  
  56. USD/JPY Current price: 80.25
  57. View Live Chart for the USD/JPY (select the currency)
  58.  
  59. The USD/JPY finally broke above 80.00 on dollar buying early Europe, and trades steady just above past August high at 80.22. The hourly chart shows RSI still in overbought territory yet far from signaling a bearish correction, while momentum shows signs of exhaustion, still way above its midline; 20 SMA continues heading higher below current price, while 4 hours chart shows an acceleration in the bullish momentum, all of which supports more gains for the greenback against its Japanese rival.
  60.  
  61. Support levels: 79.90 79.50 79.25
  62.  
  63. Resistance levels: 80.40 80.65 80.90
  64.  
  65. USD/CHF: Current price: 0.9118
  66. View Live Chart for the USD/CHF (select the currency)
  67.  
  68. Unchanged since last updates, the USD/CHF trades in a quite limited range, with the hourly chart showing indicators flat, with no direction. In the 4 hours chart price remains capped below a still bearish 20 SMA although technical indicators are approaching their midlines downside up, showing selling interest seems to be easing. However, only a recovery above 0.9140 may favor gains in the pair, while a break below 0.9070 should trigger another wave of selling in the pair.
  69.  
  70. Support levels: 0.9070 0.9040 0.9000
  71.  
  72. Resistance levels: 0.9140 0.9165 0.9200
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  81. Published On Wed, Feb 22 2012, 14:33 GMT
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  83. Follow the markets with Valeria Bednarik, author of the Currency Majors Technical Perspective report:
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  85. Valeria's Blog in Forexstreet.net.
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  89. FXstreet.com Independent Analyst Team
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  101. Wed, Feb 22 2012, 22:33 GMT
  102. Currency Majors Technical Perspective
  103. Wed, Feb 22 2012, 14:29 GMT
  104. Currency Majors Technical Perspective
  105. Wed, Feb 22 2012, 05:53 GMT
  106. Currency Majors Technical Perspective
  107. Tue, Feb 21 2012, 22:33 GMT
  108. Currency Majors Technical Perspective
  109. Tue, Feb 21 2012, 14:36 GMT
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  129. Forex: EUR/USD seeing little action in quiet Asia
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  133. Forex: EUR/USD consolidating below 100-day EMA
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  135. ForexLive Asian market open: USD/JPY keeps marching on
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  149. Forex: EUR/USD setting up for major decline – DailyFX
  150. by FXstreet.com Feb 22, 16:46 GMT
  151. Forex: EUR/USD might break 1.3182-1.3293 range today - FXMR
  152. by FXstreet.com Feb 22, 15:24 GMT
  153. Forex: EUR/USD range bound around 1.3250
  154. by FXstreet.com Feb 22, 20:21 GMT
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  262. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
  263. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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