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RTFX Daily Forex Market comments : 02/27/2013
GBP – JPY
One more dip to 138.48 - 137.77 is likely followed by a grind higher to 139.85 - 140.52. After which it can resume its downtrend.
EUR – USD
Current fall is near an end of wave around 1.3013 zone, a rally should then procede to above 1.3115. Fall below 1.2965 would cancel this scenario.
USD – CHF
It should trade higher to 0.9327 or 0.9341 in extension while 0.9292 offers support. Stop loss below 0.9265 zone.
USD – JPY
It should test 92.04 area after which a sell off down to 91.17 or extended to 90.35 area is expected.
USD – CAD
There are initial signs of a good corrective recovery towards 1.0282 or even 1.0296. Supports at 1.0251 and 1.0234 zone.
NZD – USD
It looks set to visit further lower territory down to around 0.8238 - 0.8199. Its corrective attempts should fail ahead of 0.8302 - 0.8329. Stop loss above 0.8406 zone.
AUD – USD
One more dip to 1.0215 is likely followed by a grind higher to 1.0281. After which it can resume its downtrend.
EUR – JPY
One more dip to 119.56 - 118.95 is likely followed by a grind higher to 121.34.
EUR – CHF
It should try higher up to 1.2184 - 1.2206. Entry point 1.2163 or 1.2145. After this rise, a correction is expected.
EUR – GBP
It may attempt a test higher to 0.8642 - 0.8664 after which weakness may set it to a drift down to below 0.8592 limit.
EUR – CAD
One more dip to 1.3375 - 1.3347 is likely followed by a grind higher to 1.3430 - 1.3458. After which it can resume his downtrend.
EUR – NZD
Current rise seems to be over near 1.5858 or 1.5930 for a retracement towards 1.5785 - 1.5734 area.
EUR – AUD
It should trade lower to 1.2704. Resistances are at 1.2821 and 1.2874. A break of 1.2938 is bullish, confirmed by a close above 1.2800.
GBP – CAD
Support at 1.5516 or 1.5486 should hold. Then a correction to above 1.5642 is anticipated. A clear break of 1.5452 is again bearish.
GBP – AUD
While below 1.4784 or 1.4788 it could fall towards below 1.4737 or 1.4689. After which a corrective/consolidation activity is expected to 1.4812 zone.
CAD – JPY
It should test 89.88 area after which a sell off down to 88.68 or extended to 87.72 area is expected.
NZD – JPY
Current fall is near an end of wave around 74.94 zone, a rally should then procede to above 77.08. Fall below 73.99 would cancel this scenario.
AUD – JPY
Current fall is near an end of wave around 93.00 zone, a rally should then procede to above 95.25. Fall below 91.91 would cancel this scenario.
XAG – USD
It should try higher up to 29.43 - 29.71. Entry point 29.16 or 29.00. After this rise, a correction is expected.
XAU – USD
Uptrend is still intact in a triangle configuration. It should continue to rally to 1626.48 or 1627.69 if support around 1606.08 hold. After which a pullback to 1606.08 - 1599.08 zone is possible.