Technical analysis of forex market April 30,2012
by admin ·
Trend still very bullish on parity with our points still Friday’s high at 3250/60 which are resistances. Our advice in the morning, rumors indicate sales of central banks over 3260 with a 1.33 barrier option that would defend the area. It is clear that whenever we try to pass these levels upward, parity is sent down.
However be careful, because when the cap will jump, rising to 1.33 and above, may be rapid.
Also, vendors will sell slightly 3250/60 with stoploss above 3270 or 3285. Back on 3220/10 is currently the target. Goal that could allow also the MACD 30 mins to go bearish and perhaps return parity to 1.32 in 3180/70.
By cons, a passage over 3270/80 and especially 3295, send parity on 3320/40. Buyers will reposition to purchase over 3205 and 3180/70, with stoploss above 3195 and 3160/55.
In conclusion, 1 May is a holiday in many countries and it is possible that we stay in a range in 3260/80 and above 1.32 today and tomorrow. However, the trend will remain bullish and as long as we stay above 3180/50.
The objective was for sale back on 3220/10 this morning and we went there. No figure in U.S. interest today except maybe at 15:55 Chigago PMI is expected back and therefore unfavorable to the dollar. However, there is really no reason to believe that the current consolidation continues and the market should continue this until Wednesday morning. Our board of the afternoon, as this morning, the first area of purchase is between 3220 and 3205 with stoploss until 3195 for a return to 3250/60. Then, the buffer zone between 3180/70, 3150 and supports which would normally to block a larger decline. On these levels a lot more buyers should be able to come and reposition.
But for the drop gets bigger, it would go under 3150/45 with the aim of returning to test 3120/10. Nevertheless, and for now it seems out of reach.
Finally and in the high ranks of the 3250/60, these items are for sale with stoploss above 3270 and until 3285.
In conclusion, the market should remain in a range 3180/3260 until Wednesday. Your turn these points to buy and to sell with stoploss adequate.
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