Daily analysis for major currencies: 2013.09.09

2013.09.09

Daily analysis for major currencies 

USDJPY, GBPUSD. USDCHF, EURUSD

USDJPY:
Strength in USDJPY is likely to continue.
We see a less chances of an immediate fall
on the instrument for short-term technical outlook.
Next upside barriers follow
(100.14) at (100.36) and (100.72).
We will try to buy USDJPY from
our mentioned support levels
Recommend:
pivot: 99.10
Entry: Long position above 99.10
Targets: 99.50, 99.90, then 100.60 in extension
Stop: below 98.75
Alternative scenario: a break below 98.75
may put 98.50 where you Re-entry Long
if first position done it stoploss

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GBPUSD:

We see high chances of the pair move up gradually
towards (1.5670 – 1.5690).
 A proper confirmation would occur
 if the GBPUSD will manage to overcome the
(1.5650) resistance over today`s trading session.
Long positions are favored for today.
Recommend:
pivot:1.5610                                          
Entry: Long position above 1.5610
Targets: 1.5650, 1.5680, then 1.5700 in extension
Stop: below 1.5572
Alternative scenario: a break below
 1.5572 may but 1.5540 where you Re-entry Long
if first position done it stoploss
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USDCHF:

Currently, further bullish actions could be seen on.
A break below (0.9331) could be a threat to the bullish
scenario targeting (0.9294) even (0.9274). On upside.
Immediate resistance is at (0.9410).
A close above that area should keep
 the major bullish scenario intact
 You may try to buy from (0.9364), (0.9345),
 with a stop loss below (0.9335).
Recommend:
pivot: 0.9364                                                                                                                
Entry: Long position above 0.9364
Targets: 09410, 09445 then 0.9518 in extension
Stop: below 0.9331
Alternative scenario: a break below 0.9331
may put 0.9300 where Re-entry Long
if first position done it stoploss

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EURUSD:

Short positions are favored for today.
If the price will go below the
first Resistance  at (1.3200),
this would confirm continuation of the bearish trend,
towards next objective downwards (1.3102)
then (1.3061) and (1.3054) will follow
Recommend:
pivot: 1.3200                                        
Entry: Short  position below 1.3200
Targets: 1.3102, 1.3061 then 1.3020 in extension
Stop: above 1.3235
Alternative scenario: a break above 1.3235
may call for 1.3275 where Re-entry short
if first position done it stoploss
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wish you all Good daytrade

Currency Strategist / Yehia Noor