Sunday, May 22, 2011

Long-term Technical Analysis - 23 May 2011

Currency: EUR-USD
Long-Term Trend: Downtrend
Current position: 1.4154
Fibocci Retracement: 23.6% reached/ level 1.4258
Expected Retracement Point: 38.2%/ level 1.4388
Fundamental Perspective: US Economy is improving and more jobs creation signal the strength of currency is gaining momentum. However the Oil Prices might hinder this development.

Currency: GBP-USD
Long-Term Trend: Sideway
Current Position: 1.6242
Fibonacci Retracement: 38.2%
Expected retracement point: 50% /Level 1.7311

Currency: USD-JPY
Long-term Trend: Downtrend
Current position: 81.684
Fibonacci Retracement Expectation: 23.6% / Level 87.650

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