*Daily Forex market overviews by MasterForex.com* - page 8
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TREND ANALYSIS OF THE EURUSD FOR 12/10/08
EURUSD
On the 4-hour chart:
Traders gained the first signal for the end of the upward trend between the lines 1 and 2. The pair broke the trend line. The Moving Averages show the correction during bullish trend.
On the 1-hour chart:
The pair reached the resistance line of upward channel between the line s1 and 2 at the end of Friday. The correction started after the rebound from the resistance line. The dynamics remained on Monday as well. Thus it had been formed the resistance line of the correction 4. The pair decreased below the support line of the channel 1. The Moving Averages show the remaining of the upward trend.
On the 15-minute chart:
The price tests the level 1.2965 and the support line 1. If the support could be broken, traders will gain final signal for the reverse of the trend direction. If the price could rebound upwards, players will obtain the signal for the remaining of the trend direction.
By MasterForex Company
TREND ANALYSIS OF THE USDJPY FOR 12/10/08
USDJPY
On the 4-hour chart:
The pair pierced the resistance line 1, confirmed the line 2 on Friday and showed the intensive decline. The falling continued on the current week. The nearest support level lies at 78.48. The moving averages are showing the deep correction of ascending trend.
On the 1-hour chart:
The pair continues the movement within the ascending channel between the lines 1 and 2. In addition, the line 3 affects the pair dynamics. The price will soon start the testing the support line 1. The moving averages are showing the weakening of the upward tendency.
On the 15-minute chart:
Continuing the Friday falling, the pair formed the resistance line 1. The price is getting close to the line 2 and support area 78.48/45. The piercing of the supports will be a signal of the ascending trend end, while their confirmation will suggest the end of the deep correction.
By MasterForex Company
TREND ANALYSIS OF THE GBPUSD FOR 12/10/09
GBPUSD
On the 4-hour chart:
The pair left the downward channel between the lines 1 and 2. The pair places near the support line 3. The Moving Averages show strong bearish tendency.
On the 1-hour chart:
The pair decreased below the support line of the channel 1. However resistance line of the downward tendency 2 had been broken later and the price arrived into the channel. The pair decreased below the line 1 for the second time after small correction to the resistance line 3. The Moving Averages show strong bearish trend.
On the 15-minute chart:
The price is growing in the direction of the level 1.6020. If the level could be confirmed as a resistance it will start flat between present resistance level and the support level 1.2990. In the case of the break through the level the trend will continue. If the price could increase above the resistance level 1.6020 and could arrive above the support line of the trend channel it will start intensive recoil to the resistance line of the trend channel 2 on the 4-hour chart.
By MasterForex Company
TREND ANALYSIS OF THE EURUSD FOR 12/10/09
EURUSD
On the 4-hour chart:
The formation of downward trend is remaining at the moment. The pair broke the support line of the short-term upward tendency earlier. Resistance line 3 had been formed during the decrease. The Moving Averages show the reverse downwards.
On the 1-hour chart:
The pair formed the support line 2 after the break through the trend line 1. The line 2 had been broken today and the decrease continued. The dynamics places between the lines 1 and 2. The Moving Averages remains in the bearish tone.
On the 15-minute chart:
The pair is testing the level 1.2925 at the moment. If the level could be broken the pair will continue to decrease. If the price could rebound upwards the low border of the downward channel will start to form.
By MasterForex Company
TREND ANALYSIS OF THE USDCAD FOR 12/10/09
USDCAD
On the 4-hour chart:
Since the beginning of the week, the pair is demonstrating the mixed dynamics. Yesterday ascending movement was restricted by the level 0.9785. After that, the unconfident falling followed. The moving averages are showing the weak descending trend.
On the 1-hour chart:
The pair is fluctuating between the support line 1 and the resistance line 2. The ascending dynamics of the last hours moves the pair closer to the line 2. The nearest resistance level lies at 0.9771. The moving averages herewith are showing the downward trend resumption.
On the 15-minute chart:
In the second half of the Asian session, the pair was demonstrating the bullish dynamics. Gained about 20 pips, the pair returned almost all the today losses. The price marked the recoil from the resistance line 1. Traders will probably refrain from deals until forming of the clear tendency.
By MasterForex Company
TREND ANALYSIS OF THE AUDUSD FOR 12/10/09
AUDUSD
On the 4-hour chart:
The pair resumed the ascending dynamics, formed herewith the support line 1. Now the price is moving aside the resistance line 2 during the correction of descending trend. The moving averages continue to show the bearish tendency.
On the 1-hour chart:
After recoil from the support line 1, the growing pair formed the ascending trend channel by the lines 2 and 3. The price is getting close to the support line 2. The nearest support level lies at 1.0196, while the resistance could be found at 1.0239. The moving averages are ready to provide a bullish signal.
On the 15-minute chart:
Recoiled from the support level 1.0239, the pair started to decline sharply. Now the support line 1 is under testing. In case of its piercing, traders will probably continue to sell, while confirmation of the closest support 1.0196 will be a signal to buy.
By MasterForex Company
TREND ANALYSIS OF THE USDJPY FOR 12/10/09
USDJPY
On the 4-hour chart:
The pair left the ascending trend channel between the lines 1 and 2 by piercing the support. The level 78.48 has been pierced during the falling. However, after the recoil from level 78.16, the price showed the signs of the ascending tendency. The moving averages changed the direction to horizontal sharply.
On the 1-hour chart:
Since the second half of Monday, the pair was demonstrating the ascending dynamics. The support line 1 and resistance line 2 have been formed. Now the price is testing the resistance line 3. The moving averages are still showing the flat.
On the 15-minute chart:
Now the pair is in the phase of technical correction of ascending trend. The price is moving along the line 1, herewith getting close to the support 2. The piercing of the support can cause the resumption of falling or flat, while its confirmation will be a signal of the bullish trend continuation.
By MasterForex Company
TREND ANALYSIS OF THE USDCHF FOR 12/10/09
USDCHF
On the 4-hour chart:
Since the beginning of the current week, the pair was demonstrating the clear bullish dynamics. The resistance level 0.9345 has been pierced and later confirmed as a support. Now the price is testing the resistance line 1. The moving averages continue to turn upwards.
On the 1-hour chart:
The pair reached the top border of the ascending trend channel between the lines 1 and 2. There is a possibility of turning to technical correction phase. The testing of resistance lines 2 and 3 started. The moving averages are showing the bullish tendency.
On the 15-minute chart:
The pair reached the line 1 and started to test it. The nearest support level lies at 0.9360. In case of recoil from the resistance line, the pair will start the technical correction, which will be a good moment to open the short position.
By MasterForex Company
TREND ANALYSIS OF THE USDCAD FOR 12/10/10
USDCAD
On the 4-hour chart:
The lowering, from which the week started, finished by confirmation of the level 0.9745 as a support. The followed growth was restricted by the resistance level 0.9792. The moving averages are showing the forming of flat.
On the 1-hour chart:
During the growth, which started in the second half of Tuesday, the pair pierced the level 0.9771 that was later confirmed as a support. The nearest resistance level lies at 0.9792. The moving averages gave an extremely weak bullish signal.
On the 15-minute chart:
During the Asian session, the pair was demonstrating the bearish tone, but the last day dynamics shows the flat character of tendency. The piercing of the nearest support level 0.9771 of the resistance area 0.9792/99 will be a signal of the trend beginning.
By MasterForex Company
TREND ANALYSIS OF THE AUDUSD FOR 12/10/10
AUDUSD
On the 4-hour chart:
The pair continues the movement within the channel between the lines 1 and 2. During the technical correction of descending trend, the price is getting close to the resistance line 2. The level 1.0196 has been confirmed as a support. The moving averages are showing the forming of flat.
On the 1-hour chart:
The pair recoiled from the level 1.0239 and pierced the support line 1 during the correction. The lowering was restricted by the support area 1.0196/86. The followed growth moves the pair close to the resistance 1.0239 again. The moving averages are showing the flat.
On the 15-minute chart:
The lines 1 and 2 are restricting the channel of intraday ascending trend. The pair is getting close to the level 1.0239 and the resistance line 3. In case of their piercing, it will be possible to talk about the confident ascending trend forming. Recoil from the resistances will show the end of descending trend correction.
By MasterForex Company