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September 30th, 2008, 5:13 pm | By One Financial | Published in Daily Technical | Comments on this post1 Comment »

Intraday EUR/USD: The euro is trying to recover some of Monday’s losses, and nears $1.4430 minor resistance, the Sept. 8 high. Above this lurks resistance at $1.4482, the Sept. 15 high, and at $1.4543, the Sept. 18 high. Minor support comes in around $1.4278, the Sept. 18 low.

Weekly chart EUR/USD trend: Bearish.

Intraday USD/JPY: The dollar is bouncing off Y103.50 minor support, and nears Y104.80 minor resistance. Above this resistance can be seen at Y105.15, and at Y105.53. Minor support below Y103.50 is found around Y103.20.

Weekly chart USD/JPY trend: Bearish.

Intraday GBP/USD: Sterling is regaining some of its recent losses and probes $1.8124, the Sept. 15 high. Above this sits resistance at $1.8206, the 38.2% Fibonacci retracement of September’s advance. Support is found at $1.8061, the 50% Fibonacci retracement, around $1.7989, Tuesday’s intraday low, and at $1.7917, the 61.8% Fibonacci retracement.

Weekly chart GBP/USD trend: Bearish.

Intraday USD/CHF: The dollar might retest CHF1.0992 minor resistance, the Sept. 17 low, a move above which has CHF1.1021 minor resistance in focus. For this to happen, minor support around CHF1.0941 needs to hold, however. If not, a slip to CHF1.0920, Wednesday’s high, and the CHF1.09 region may ensue instead.

Weekly chart USD/CHF trend: Capped.

Forex Technicals - Chart Levels 30-09-08

?Forex spot: EUR/USD USD/JPY GBP/USD USD/CHF
Spot 0730 GMT 1.4397 104.64 1.8102 1.0958
3 Day Trend Bearish Bearish Bearish Bouncing
Weekly Trend Bearish Bearish Bearish Capped
200 day ma 1.5211 106.01 1.9487 1.0595
3rd Resistance 1.4543 105.53 1.8250 1.1050
2nd Resistance 1.4482 105.15 1.8206 1.1021
1st Resistance 1.4430 104.80 1.8124 1.0992
Pivot* 1.4391 104.27 1.8068 1.0941
1st Support 1.4278 103.50 1.8061 1.0941
2nd Support 1.4152 103.20 1.7989 1.0920
3rd Support 1.4080 102.89 1.7917 1.0900

* The pivot is the sum of the high, low and close divided by 3.

Intraday EUR/GBP: The euro is in recovery mode and eyes GBP0.7968 minor resistance, a move above which has GBP0.7987 resistance in sight. Minor support is found around GBP0.7949, and at GBP0.7939.

Weekly chart EUR/GBP trend: Capped.

Intraday EUR/JPY: The euro is staging a minor comeback off Tuesday morning’s Y148.84 low, and eyes the Y150.80 minor resistance area. Above this resistance can be seen at Y151.98, with support floating around Y150.

Weekly chart EUR/JPY trend: Bearish.
Intraday EUR/CHF: The euro tests CHF1.5773 minor support, the Sept. 18 low, a slide through which has CHF1.5750, the Sept. 16 low, in focus. Minor resistance stands at CHF1.5840, the Sept. 11 low, and around CHF1.5905, Thursday’s low.

Weekly chart EUR/CHF trend: Bearish.

Intraday AUD/USD: The Australian dollar nears US$0.8093 minor resistance, the Sept. 18 high, a move above which targets US$0.8128, the Sept. 10 peak. Minor support is found around US$0.7948, Tuesday’s intraday low, and at US$0.7903, the Sept. 11 low.

Weekly chart AUD/USD trend: Bearish.

Forex Technicals No.2 - Chart Levels 30-09-08

?Forex spot: EUR/GBP EUR/JPY EUR/CHF AUD/USD
Spot 0730 GMT 0.7958 150.62 1.5778 0.8063
3 Day Trend Bouncing Bearish Bearish Bearish
Weekly Trend Capped Bearish Bearish Bearish
200 day ma 0.7810 161.14 1.6091 0.9121
3rd Resistance 0.7998 152.90 1.5975 0.8174
2nd Resistance 0.7987 151.98 1.5905 0.8128
1st Resistance 0.7968 150.80 1.5840 0.8093
Pivot* 0.7970 150.07 1.5749 0.8027
1st Support 0.7949 150.00 1.5773 0.7948
2nd Support 0.7939 148.84 1.5750 0.7903
3rd Support 0.7912 147.50 1.5702 0.7854

* The pivot is the sum of the high, low and close divided by 3.

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One Financial Content provided by One Financial (onecfd.com) Disclaimer: The information given in this message is provided on an information-only basis for marketing purposes and may not be construed as constituting the making of any recommendation or giving of advice on the part of One Financial. This information has not been prepared in accordance with any legal requirement to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. This information may have been prepared by firms other than One Financial and One Financial may not be held responsible for the accuracy or otherwise of its contents.

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One Response to “Euro Forex Technicals: Dollar Now Weakens Slightly”

  1. ur blog is great.. any detail info