Daily Technical Analysis

How are you today?

I hope every body in good shape, let's see the currency

EUR/USD



Today, EUR/USD will try to break resistance at 50 % of fibonaci retracement (1,4179). If it can break it EUR/USD will continue going up to 61.8% of fibonaci retracement if not it will go down to 38.2

USD/CHF



Fibonaci retracement at 61.8 will be a strong resistance and USD/CHF will test it today, if they can break this line it will go down but if not, it will rebound to 50% (1.0966)

GBP/USD


GPB/USD already break the 38.2 line and I think it will go up to test 50 line but for sure we have to wait today candle, if it form bullish candle so we can buy it.

USD/JPY


USD/JPY already test 38.2 line but it cannot break it so it will rebound and go down to 23.6 line but for sure we have to wait today candle finish it form. if today candle bearish we can sell it.

For another currency, I will post it later. check it regularly at Mega site of Bible studies and information

Thanks all

Free Signal 02nd May 2009

Hi All,

I think there are 4 currencies pair that we can trade today, There are:

GBP/USD

Based on the chart, it already pass the 38.2 Fib Level and it already confirm with yesterday bullish candle, so I think we can buy it with TP: 1.6875 SL:1.5725

EUR/JPY

EUR/JPY already pass 38.2 fib level and yesterday candle is bullish even 2 days ago it forms bearish but bullish is still much stronger so I think we can Buy it with TP: 139.80 and SL: 130.90

AUD/USD

This pair continue their bullish and I think for next week it still strong, so I think we can Buy it with TP : 0.8340 and SL: 0.7745

EUR/GBP

Sell it with TP: 0.8515 and SL: 0.8845

For more, Please visit: Forex Information Terminal

Fibonacci levels
In this article we will discuss about a widespread, well-known key element of technical analysis. Why do you think technical analysis especially some elements work so well for financial markets? Why do you think Fibonacci levels are usually strictly followed? Because thousands and billions of traders and computer programs for trading use these elements. This way everybody acts the same at the same time…
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