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GBP USD attacks the psychological barrier 07/03/2013
The pair opened today’s trading with a strong bearish bias to start now the attempts to break below the psychological barrier 1.5000, which represents the initial target for the recent reports.
In general, the bearish trend will remain valid and continuous, and the next target at 1.4815, supported by EMA50, being aware that the stability of 1.5000 against the pair attempts to decline might represent a turn point for intraday and short term trading towards the upside.
Expected trading range for today is between: 1.4800 support and 1.5135 resistance.
Expected trend for today: Bearish
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EUR USD breaks the critical support 07/03/2013
The pair pushed negatively yesterday to achieve a break below 1.2990 and settled with a daily close below it, this break represents a strong negative signal that might push the price to visit levels begin at 1.2710, but we prefer staying aside for today in order to monitor another daily candle stick close below the mentioned level and followed by confirming the continuation of the downside track, where Stochastic shows clear oversold signals that might assist in the attempt to turn the price back to the negativity.
MoreMidday update for NZD USD 06/03/2013
The pair is heading to the downside in attempt to retest the minor channel’s resistance that was previously breached, which meets EMA50, to add more support for this level.
MoreMidday update for AUD USD 06/03/2013
The pair moves near the breached falling wedge’s resistance by today’s opening, where this decline is considered as a natural retest process, and we are waiting for an upside rebound supported by Stochastic current positivity.
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