Login
  • Total deals: 27824735
  • Total active micro accounts: 102721
  • Total active standard accounts: 156681

Daily Forecast for Crosses: March 08

Share It:
03/07/2010 06:58

EURJPY Forecast
The EURJPY had a significant bullish momentum on Friday, topped at 123.32 and closed at 123.05. This fact should trigger further bullish momentum, but as you can see on h4 chart below we have a good technical resistance around the trendline. We need a clear break above the trendline to continue the bullish scenario targeting 125.15 area. Note that the major trend remains bearish and the current bullish momentum is just a corrective move. Immediate support at 122.80 area. Break below that area should trigger further bearish momentum testing 121.70 area and diminish the bullish correction scenario.

GBPJPY Forecast
The GBPJPY had a significant bullish momentum on Friday, topped at 137.03 and closed at 136.81. The bias is bullish in nearest term but as you can see on my h4 chart below we have a good resistance around the trendline resistance area. We need a break above the trendline to continue the bullish momentum targeting 139.50 area. Also note that the current bullish momentum is just a corrective move while the main trend should remains bearish. Immediate support at 136.50. Break below that area should trigger further bearish momentum testing 134.70 and could be a potential threat to the bullish correction scenario.

AUDUSD Forecast
The AUDUSD had a bullish momentum on Friday, topped at 0.9092 and closed at 0.9079. The fact that price is now convincingly stay above 0.9040 area should trigger further bullish momentum targeting 0.9140 � -0.9180 area. Another movement back below 0.9040 area should lead us into no trading zone as direction would become unclear for me.

Post Comment

Meta Login (required)
Password (required)
Name (required)
Comment (required)

(Characters left: 3000)

History

03/07/2010
GBPUSD Daily Forecast: March 08
03/07/2010
USDJPY Daily Forecast: March 08
03/07/2010
USDCHF Daily Forecast: March 08
03/06/2010
EUR/USD Weekly Review 01 Mar – 05 Mar 10
03/05/2010
EURUSD Weekly Summary: Triple bottom at 61.8% Fibonacci retracement: Bullish reversal?

Subscribe Live News

Subscribe Analytics

Trading terms

FXOpen provides the same trading opportunities to individuals and private companies that have been traditionally only offered to large financial institutions.

Check our trading terms
2005-2010 © FXOpen
All rights reserved.
Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Client should make an independent judgments as to whether trading is appropriate for him/her in light of his/her financial condition, investment experience, risk tolerance and other factors.