Tag Archives: Daily Trader

Forex Technical Trading Update March 14 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.4000

Overview – Daily trend has been pressing higher since the beginning of 2011. However, previous congestion viewed on the weekly chart between 1.3950 and 1.4100 in 2008, 2009 and 2010 is providing a range of resistance that could eventually indicate a reversal zone. As long as this pair holds under 1.4100 I will be watching for technical indications of reversal.

Resistance – 1.4085 / 1.4150 / 1.4225 / 1.4290

Support – 1.3900 / 1.3860 / 1.3825 / 1.3760

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GBP/USD – Current 1.6175

Overview – Weekly resistance viewed in the mid to upper

Technical Trading Update Feb 21 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3665

Overview – Last week we saw a push back to the 1.3700 area capping just under the previous weeks high. As long as it continues to hold under 1.3740 will be looking for the potential return back down to 1.3400. A push through 1.3740 will retest the 1.3850’s then back to 1.4000.

Resistance – 1.3708 / 1.3740 / 1.3790 / 1.3824 / 1.3858

Support – 1.3640 / 1.3620 / 1.3574 / 1.3547 / 1.3500 / 1.3460

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GBP/USD – Current 1.6216

Overview – I have been watching the test of the top of

Technical Trading Update Feb 7 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3520

Overview – The past two weeks have found support in the mid 1.3500’s and a new leg down could target 1.3400 for the next support. Long terms trends on the daily and weekly are difficult to discern so I will continue to watch for breakouts on the 1 hr and 4 hr charts.

Resistance – 1.3628 / 1.3667 / 1.3737 / 1.3791 / 1.3824

Support – 1.3490 / 1.3413 / 1.3279 / 1.3187 / 1.3078

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GBP/USD – Current 1.6105

Overview – I have been watching the test of the top of

Technical Trading Update Jan 25 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3605

Overview – 4 hour retracement trend has moved up nicely from the 1.2900 area to the upper 1.3600’s. Now looking for a potential break of the 4 hour trend line to begin falling again.

Resistance – 1.3685 / 1.3745 / 1.3797 / 1.3866 / 1.3949

Support – 1.3576 / 1.3490 / 1.3413 / 1.3279 / 1.3185

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GBP/USD – Current 1.5770

Overview – Large reaction to news

Technical Trading Update Jan 17 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3300

Overview – Early this week we are seeing the potential break of the daily trend line that has been down since the beginning of last November. The price has found resistance at 1.3400 but a break will look for the next extension higher. The next major support break comes through 1.3075.

Resistance – 1.3335 / 1.3313 / 1.3485 / 1.3595 / 1.3693

Support – 1.3185 / 1.3075 / 1.2986  /1.2890 / 1.2810 / 1.2750

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GBP/USD – Current 1.5910

Overview – Daily Fib near 1.5930 capping

Technical Trading Update Jan 10 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.2925

Overview – Supports along 1.2890 area holding bottom side pressure for now. A confident break of this support will look for the next slide to 1.2800 and 1.2750. Resistance will likely be seen near 1.2975 but a push could send it higher to 1.3080.

Resistance – 1.2975 / 1.3035 / 1.3080 / 1.3148 / 1.3190

Support – 1.2890 / 1.2810 / 1.2750 / 1.2670 / 1.2625

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GBP/USD – Current 1.5540

Overview – Consolidation is dominant viewed on the

Technical Trading Update Jan 5 2011

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

Looking forward to the end of the week, there are some significant news events that could dramatically change the technical trading outlook.

EUR/USD – Current 1.3145

4 hour View – As noted in the last update, a break of the 1.3300 area gave way to the next leg lower and now finding support in the mid 1.3100’s. Significant congestion between