Wednesday, April 22, 2009

Fortis Bank. Technical Analysis 22/4/2009


Euro / dollar
Intraday strategy
Couple caught between the level of support at 1.2900 and resistance at 1.3000. Breakthrough above lead to a further increase to 1.3060. The drop below 1.2900 would result in strengthening the bear sentiment and lead to a decline to 1.2825.
Medium-term forecast
While the bearish outlook remains valid. The following target levels of support: 1.2750 and 1.2525.
Internal resistance levels 1.3000, 1.3060
Local levels of support 1.2900, 1.2825
Dollar / yen
Intraday strategy
Couple caught between the level of support at 97.95 and resistance at 98.90. Breakthrough above lead to a further increase to 99.45. The drop below 97.95 could result in reduction to 97.35.
Medium-term forecast
To preserve the ascending projection of motion and to 102.50, the couple should remain above support at 97.25.
Internal resistance levels 98.90, 99.45
Local levels of support 97.95, 97.35
Euro / Pound
Intraday strategy
Couple caught between the level of support at 0.8800 and resistance at 0.8865/80. Breakthrough above lead to a further increase to 0.8915. The drop below 0.8800 would lead to a decline to 0.8735.
Medium-term forecast
The pair might be partially restored after the fall, with a resistance level of 0.9020/0.9070 speak, but in the future the euro is likely to resume falling to 0.8640.
Internal resistance levels 0.8865/80, 0.8915
Local levels of support 0.8800, 0.8735

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