EUR/USD Technical Analysis 12 March 2008

EUR/USD 1.5361 - 12 March

EUR/USD Open 1.5339 High 1.5481 Low 1.5283 Close 1.5340

The Euro continued climbing yesterday to High 1.5481 till 14:00 GMT when the announcement by FED was to to lend as much as $200 billion in US Treasuries helped the US Dollar recover to 1.5285, which are the first resistance and support levels respectively for today. Next resistance upwards is 1.5530, followed by 1.5600. In downward direction next support is at 1.5215, which is 23.6% Fibonacci correction of the rise 1.4440 - 1.5455, and the lowest rate from 5 March at 1.5150.

Technical resistance levels: 1.5480 1.5530 1.5600

Technical support levels: 1.5285 1.5215 1.5150

Trading range: 1.5350 - 1.5415

Trend: Upward

Buy at 1.5361 SL 1.5331 TP 1.5401

Yesterday we made +50 pips profit on EUR/USD from the following signal:

6:03 GMT Buy EUR/USD at 1.5355 SL 1.5329 TP 1.5405 TP reached at 9:18 GMT

Total yesterday +136, as shown at www.zifx.com/performance.php

Technical analysis for crosses(EUR/GBP)-3/12/2008

(EUR/GBP)
The Euro dropped heavily yesterday against the Pound after reaching the major resistance level at 0.7680 which hold the pair from acquiring the 0.77 target, while the support at 0.7630 provided the pair with the strength to incline back again, the short term technical indicators are showing more upside potential, while the point at 0.7630 offers strong demand for the pair.
Support	0.7640	0.7630	0.7615	0.7600	0.7590
Resistance	0.7650	0.7665	0.7680	0.7690	0.7700
Recommendation	...

Technical analysis for crosses(GBP/JPY)-3/12/2008

(GBP/JPY)
Investors' risk appetite was boosted yesterday on the news the Feds will provide more liquidity to the financial system, increasing carry trades as a result which drove the Pound in a bullish wave against the Yen, the short term technical indicators though started showing downside potential in an expected correctional wave, and the point at 205.90 offers strong demand for the pair.
Support	207.13	206.42	205.90	205.34	204.67
Resistance	207.75	208.28	208.84	209.54	210.21
Recommendation	...