GBP/USD, EUR/JPY, USD/CAD and USD/JPY Technical analysis

Dec 13, 2009
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#1
Hello Traders!

Here is my GBPUSD analysis:

GBP/USD WEEK



There are no changes over last week. We see an uptrend. The first target along the trend almost coincides with the strong reversal level 8/8. The price is in the upper trading range. After hitting level 7/8 there is a good chance of reaching T1. A reversal from level 8/8 is also possible.

GBP/USD DAY


This is a downtrend. There are no targets along the trend. The price has reached a strong reversal level 0/8 which is significant on weekly charts. There is a high possibility of the trend’s reversal from the oversold area.

GBP/USD 240


We can see a downtrend. On the way to the target there is a strong reversal level 2/8 which is significant on a senior time frame. The price is in the upper trading range. After hitting level 2/8 the price may reach target T1.
 
Dec 13, 2009
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#2
Eur/jpy

EUR/JPY WEEK


There are no changes over last week. A new extreme has emerged below point 5. For the time being we leave the layout as it is to evaluate MM-levels, but we cannot analyze the template until new extremes emerge and we define the trend’s direction. A downtrend from level 6/8 might have started.

EUR/JPY DAY


A downtrend. On the way to the target T1 there is level 4/8 which is significant on weekly charts. If the trend continues to go down, at least a deep retracement from this level is very likely. The price is beyond time frames, for the further analysis we need to reconstruct the template using new extremes.

EUR/JPY 240


We see an uptrend. All targets have almost merged into one. On the way to the targets there are no levels from senior time frames. The price is in the trading range, a flat is possible. Time frames are very small and most likely for the further analysis we will have to reconstruct the template using new extremes.
 
Dec 13, 2009
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#3
Usd/cad

USD/CAD WEEK



Since last week the situation has not changed. It is a downtrend, the price is getting ready to attack a weak reversal level 1/8 once again. On the way to the target there is a strong reversal level 0/8. There is a high probability of a reversal or a strong retracement of the trend from level 0/8.

USD/CAD DAY


Since last week the situation has not changed. A downtrend. The price moves in the trading range and therefore may linger there (a flat has started). On the way to the target there is strong level 0/8 which is significant on weekly template. The price has almost exceeded the time frames, and for the further analysis we need to reconstruct the template using new extremes.

USD/CAD 240


We see a downtrend. The price is in the trading range, a flat is possible. On the way to the target T1 there are no strong levels from senior time frames. The price may easily reach target T1 after hitting p.4 down and reaching the lower trading range.
 
Dec 13, 2009
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#4
Usd/jpy

USD/JPY WEEK


We see a downtrend. Since last week the situation has not changed. The price has hit strong reversal level 2/8 and now it is very likely to reach level 0/8, because on the way to this level the price has only weak local reversal level 1/8.

USD/JPY DAY


It is a downtrend. On the way to target T1 there are no strong reversal levels from senior time frames (let us say that T1 coincides with level 2/8), therefore the price is very likely to reach level T1 after moving into the lower trading range.
USD/JPY 240


We see an uptrend, on the way to target T1 there are no strong resistance levels which are significant on senior time frames, only local levels 6/8 and 7/8. There is a good chance of the price reaching target T1 or even target M.
 
Feb 18, 2010
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#5
Risk appetite was given a boost last week on generally positive economic data, which in turn translated in to broad based reversal in the Japanese yen. DOW managed to extend recent rally to close at 10566.2, 213 pts up. Nasdaq even managed to rose to new high of 2327 before closing at 2326. Commodity currencies were impressively strong with Canadian dollar and Australian dollar broadly up against...