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Daily Trading Forecasts (October 12, 2012)

2012-10-12 13:57:14 (читать в оригинале)

EURUSD: The bearish plunge that started this week has reversed largely. If the price goes back to the level at 1.3000, a bullish bias is confirmed. A long position is being braced for EUR/USD.

 

USDCHF: The attempted rally that begun at the beginning of this week; it has been reversed as well. The RSI is now below the level of 50. A brand-new bearish wave is currently forming, and if it continues, then the next support level would be at 0.9300.

 

GBPUSD: The overall bias is still bearish on this pair, though the price is currently in some sort of rally. It is confirmed further by the Williams’ % Range that is going into the overbought level. If there is no confirmation of the bullish bias, one would need to sell dearer.

 

EURJPY:   This cross is still bullish and it is showing the overall weakness in the Yen. From a low of 100.14 the cross has moved up by more than 170 pips. One thing that could be done is to buy a bearish retracement, say around the demand zone at 101.50.

 

USDJPY: The USDJPY has largely ranged traded this week. If there were a need to make a decision, I would prefer to go long. It is because the pair is currently above the EMA 21, while the RSI 14 is above the level 50. 

The material has been provided by Instaforex Company - instaforex.com