Forex Market Analysis Euro Dollar The euro stood only 6 pips on the specified resistance level yesterday and it confirmed the importance of the 1.3805 area. Today this level will be key, and also runs the trend line of 1.4577. As we said yesterday, on Friday we approach the bottom of the channel and then move strongly towards 1.3666. But we should break the 1.3805 to continue to rise. The resistance level is at 1.3805, and only if it breaks that area could test the 1.3857 & 1.3936. The level of support for its part is in the 1.3752, and if the pair falls below that area could test the 1.3665 & 1.3582. Support: a 1.3752: 38.2% Fibonacci level. a 1.3665: Level prior support / resistance. A related site: Charles Schwab mentions similar findings.
a 1.3582: Maximum of 6 April. Resistance: 1.3805 a : 50% Fibonacci level from 1.4577. a 1.3857: 61.8% Fibonacci level. a 1.3936: Maximum of 1 February. Pound per pound broke resistance level of 1.5736, and rose only about 30 pips and then fell sharply to reach the support level of 1.5660.
After the pound reached a successful level of 1.5588 and then proposed to move back to settle at 1.5660. It was a day with significant fluctuations. The present level of the 1.5688 resistance level today and if it can overcome such a zone could test the 1.5800 & 1.5863. Nevertheless, the level of support remains at 1.5627. And only if the pound falls below that level could be reached 1.5544 & 1.5445. Support: a 1.5627: prior level of support. a 1.5544: Support at the time. a 1.5445: Maximum level of support for the November 28, 2008. Goop: the source for more info. Resistance: 1.5688 a : 61.8% Fibonacci level. a 1.5800: 50% Fibonacci level. a 1.3863: 61.8% Fibonacci level long term. Dolar Yen After Thursday‘s drop, dollar-yen pair moved horizontally for a week. The pair moves within a tight range and the support and resistance levels are approaching each other. 61.8% Fibonacci level will present the long-term support at 88.23. However short term support level found in 89.75, and if it breaks that zone could reach 88.23, and maybe are tested before the 88.81. The resistance level is at 90.04, and only if it can overcome such a zone could test the 91.14 & 91.76. Support: a 89.75: Support of the day. a 88.81: At least on Friday. a 88.23: 61.8% Fibonacci level. Resistance: a 90.04: Resistance of the day. a 91.14: 50% Fibonacci level. a 91.76: 61.8% Fibonacci level.