Technical analysis on the major as of June 21th 2011 (17:00 GMT)

Please find hereafter our daily update on the majors as of June 21th 2011 (17:00 GMT).

(Click on the dedicated link to access our forum post with the chart).

 

  • EUR/USD
    The Euro has confirmed a bullish outlook today with a test of 1,44 in a quiet market given the lack of fundamentals and ahead of major risk events (Confidence vote in Greece today, BoE minutes and FOMC minutes tomorrow).
    Next target is 1,45 corresponding to the previous high.
    Only a break back below 1,4320 would concern.

    Link to ATF Forum post : EUR/USD

  •  

  • GBP/USD
    The Cable is consolidating today ahead of the BoE minutes (tomorrow at 08:30 GMT). A break above yesterday’s high 1,6250 would expose 1,6340 corresponding to a descending trendline on the daily chart.
    A break below 1,6180 would leviate the upside pressure and expose a new test of 1,61. And a break below this support would validate a potential long term reversal structure.

    Link to ATF Forum post : GBP/USD

  •  

  • USD/JPY
    The pair is still consolidating above the 80,00 critical level. We wonder how long this support will hold. Probably not that long now…
    A break below 80,00 would resume the downside move with an immediate target at 79,80 but we can expect further losses in this event.
    Only a break above 80,40 would leviate the downside pressure with a target at 81,00.

    Link to ATF Forum post : USD/JPY

  •  

  • USD/CHF
    With the US Dollar under pressure today, we have seen the pair struggling above the 0,84 support in a quiet market.
    A break below this level would resume the bearish trend with a target at the historical low(0,8330).
    Given the strengh of the downtrend, we need to see a break above 0,8550 to leviate the downside pressure and open the door to a significant bounce.

    Link to ATF Forum post : USD/CHF

  •  

  • USD/CAD
    The pair has been under pressure today with the renewed pressure on the US Dollar.
    However the USD/CAD is still evolving in its daily range and we need to see a break below 0,97 for a continuation to the downside with a target at 0,95.
    Inversely, a bounce on the bottom of the range would expose a new test of 0,98.

    Link to ATF Forum post : USD/CAD

  •  

  • AUD/USD
    Despite a setback during the asian session after the RBA minutes, the Aussie has found some support on top of 1,05 once again.
    We now need to see the pair establishing above 1,06 for a continuation towards 1,0760 (daily bollinger band).
    Only a break below this level would invalidate the bullish outlook and signify a possible reversal in the trend.

    Link to ATF Forum post : AUD/USD

Notice : the technical analysis are given for information purpose only. There is no entry timing so you will have to build your own strategy based on these recommendations.
If you want to get realtime signals with all the necessary details (entry price, stop loss and profit targets), you may try our affordable signals membership which comes with a 7 day trial period. Take a look at our membership conditions here