Technical Analysis

EUR/USD Forecast February 21, 2012, Technical Analysis

Feb 21

Technical Analysis

Date: 2/22/2012 MACD Crossover at 14:00 EST Confirmation at 15:00 EST Signal: Buy Action: Market Order opened Stop Loss: 50 Pips (5 $) Take Profit: 50 Pips (5 $)

By Roger Baettig | 20:05 GMT | IBTimes

Autochartist - Daily Forex Update: GBP/USD

GBP/USD continues to decline after the recent Breakout through the horizontal support level 1.5762 identified previously by Autochartist on the 30-minute charts (as is shown on the Key Levels chart below). The Significance of this support level is rated at the 3 bar level. The Breakout of this support level continues the previous strong downward price impulse from the major level of resistance 1.

By Dima Chernovolov | 19:01 GMT | Autochartist

GBP/USD & Other GBP Crosses Pressured by BOE Minutes

One of the weakest performers today was the GBP as Bank of England Meeting Minutes revealed that two members voted for a larger expansion of the bond purchase program than the £50 billion the bank agreed to in early February.

By Fan Yang | 15:37 GMT | FX Times

Euro Defensive, USD Maneuvering

The common currency is in defense mode, surprisingly holding well so far. After the Euro zone manufacturing and services sectors data showed unexpected contractions this month. The data are mainly watched as an indicator for the coming GDP figures, where another contraction in GDP would be the secon.

14:35 GMT | ecPulse.com

Trading Ideas on GBP/USD, AUD/USD and USD/CHF

Dollar Swiss is retaining its 0.9080-9150 sideways range. We will have to wait for a breakout on either side of this range to get clear idea on the further direction of move. 0.9050 is an important Support level seen on the downside which can be tested while below 0.9150. Whether this Support at 0.9050 holds or breaks will be the key. We will have to wait and see.

14:30 GMT | Kshitij Consultancy Service