Technical Analysis By BullsEye Markets

XtreamForexXtreamForex Posts: 125
Technical Overview of EUR/USD, NZD/USD and USD/CHF Currency Pairs

EUR USD

The EUR traded lower against the USD and closed at 1.1300.

The Ifo Business Climate Index reflects the current economic situation and forecasts for the next six months from the point of view of German companies. The indicator is compiled based on a survey of more than seven thousand companies. A higher than expected reading is seen as favorable for the euro quotes, while lower readings are seen as negative.

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).

According to the Analysis, Four hour chart shows that the pair is expected to find support at 1.12532, and a fall through could take it to the next support level of 1.12062. The pair is expected to find its first resistance at 1.13687, and a rise through could take it to the next resistance level of 1.14372.

Previous Day range was 31.9 and Current Day Range is 15.

NZD USD

The NZD traded higher against the USD and closed at 0.6877.

RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD.

The pair is expected to find support at 0.68623, and a fall through could take it to the next support level of 0.68478. The pair is expected to find its first resistance at 0.68942, and a rise through could take it to the next resistance level of 0.69116.

NZD USD previous Day range was 31.9 and Current Day Range is 15.


USD CHF

The USD traded higher against CHF and closed at 0.9934.

According to the analysis, pair is expected to find support at 0.99079, and a fall through could take it to the next support level of 0.98817. The pair is expected to find its first resistance at 0.99652, and a rise through could take it to the next resistance level of 0.99963.

USD CHF previous day range was 57.3 and current day range is 13.1.
XtreamForex

Comments

  • The_Geek_MHThe_Geek_MH Posts: 645 mod
    YO, one thread with your analysis is enough... especially if you are just going to cut and paste the same think in two places. Seriously, you know this isn't ok.
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