USD/CAD, EUR/JPY, AUD/USD and USD/JPY Technical Analysis 28/12/09

[TraderDTS]

USD/CAD WEEK

Since last week the situation has not changed. It is a downtrend, the price is getting ready to attack a weak reversal level 1/8 once again. On the way to the target there is a strong reversal level 0/8. There is a high probability of a reversal or a strong retracement of the trend from level 0/8.

USD/CAD DAY

Since last week the situation has not changed. A downtrend. The price moves in the trading range and therefore may linger there (a flat has started). On the way to the target there is strong level 0/8 which is significant on weekly template. The price has almost exceeded the time frames, and for the further analysis we need to reconstruct the template using new extremes.

USD/CAD 240

We see a downtrend. The price is in the trading range, a flat is possible. On the way to the target T1 there are no strong levels from senior time frames. The price may easily reach target T1 after hitting p.4 down and reaching the lower trading range.

 

[TraderDTS]

EUR/JPY

EUR/JPY WEEK

There are no changes over last week. A new extreme has emerged below point 5. For the time being we leave the layout as it is to evaluate MM-levels, but we cannot analyze the template until new extremes emerge and we define the trend’s direction. A downtrend from level 6/8 might have started.

EUR/JPY DAY

A downtrend. On the way to the target T1 there is level 4/8 which is significant on weekly charts. If the trend continues to go down, at least a deep retracement from this level is very likely. The price is beyond time frames, for the further analysis we need to reconstruct the template using new extremes.

EUR/JPY 240

We see an uptrend. All targets have almost merged into one. On the way to the targets there are no levels from senior time frames. The price is in the trading range, a flat is possible. Time frames are very small and most likely for the further analysis we will have to reconstruct the template using new extremes.

 

[TraderDTS]

AUD/USD

AUD/USD WEEK

Not much has changed since last week despite a new extreme. It is an uptrend. The price has hit quick reversal level 7/8 on the move and went down. Since the price went through 3 MM-levels without strong retracement, a trend reversal from this level is likely.

AUD/USD DAY

Not much has changed since last week. An uptrend. All targets along the trend are quite close to each other. We can see a retracement from strong level 6/8 which is significant on weekly charts. Perhaps, this is a start of a downtrend. However if the uptrend continues, the price is very likely to reach level 8/8 that is below target T1, because on the way to this level the price has only a weak local reversal level 7/8.

AUD/USD 240

This is a downtrend, the price is in the trading range and may linger there for a while. On the way to target T1 there are no strong levels from senior time frames, so the price may easily reach this target after hitting p.4 down.

AUD/USD 60

An uptrend. The price is in the upper trading range after hitting p.4 upward, till level 8/8 there are no more strong resistance levels from senior frames. The price may reach target T2 or even target M (unless the price is stuck at quick reversal level 7/8).

 

[TraderDTS]

USD/JPY

USD/JPY WEEK

We see a downtrend. Since last week the situation has not changed. The price has hit strong reversal level 2/8 and now it is very likely to reach level 0/8, because on the way to this level the price has only weak local reversal level 1/8.

USD/JPY DAY

It is a downtrend. On the way to target T1 there are no strong reversal levels from senior time frames (let us say that T1 coincides with level 2/8), therefore the price is very likely to reach level T1 after moving into the lower trading range.
USD/JPY 240

We see an uptrend, on the way to target T1 there are no strong resistance levels which are significant on senior time frames, only local levels 6/8 and 7/8. There is a good chance of the price reaching target T1 or even target M.

 

[TraderDTS]

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