Analysis

Trader Tip

Daily technical analysis:

Scenario for 23 February 2012

Elliott: common flat correction up 1.3321
Scenario for today
It should trade higher to 1.3274 while 1.3230 or 1.3218 offers support. Stop loss below 1.3187 zone.
Warning: Harami
Technical points
Key point1.3288
Entry point1.3273
Elliott1.2975
Closing1.3249
Projection1.3321
Trendline1.3255
Trendline1.3271
Supports / Resistances
Res 21.3298
Ex-High1.3267
Res 11.3274
Pivot1.3243
Sup 11.3218
Ex-Low1.3212
Sup 21.3187

Scenario for 23 February 2012

Elliott: irregular flat correction down 0.9057
Scenario for today
Decline should be supported around 0.9087 - 0.9071 zone for rally to above 0.9128. A clear break of 0.9071 will damage this expected rally.
Warning: Harami
Technical points
Key point0.9085
Entry point0.9090
Elliott0.9301
Closing0.9102
Projection0.8981
Trendline0.9105
Trendline0.9115
Supports / Resistances
Res 20.9153
Ex-High0.9138
Res 10.9128
Pivot0.9112
Sup 10.9087
Ex-Low0.9097
Sup 20.9071

Scenario for 23 February 2012

Elliott: extended impulse wave down 1.2001
Scenario for today
It looks set to visit further lower territory down to around 1.2058 - 1.2051. Its corrective attempts should fail ahead of 1.2069 or 1.2073. Stop loss above 1.2087 zone.
Technical points
Key point1.2048
Entry point1.2061
Elliott1.2103
Closing1.2058
Projection1.2038
Trendline1.2072
Trendline1.2075
Supports / Resistances
Res 21.2087
Ex-High1.2080
Res 11.2073
Pivot1.2065
Sup 11.2051
Ex-Low1.2058
Sup 21.2043

Scenario for 23 February 2012

Elliott: crucial reversal point
Scenario for today
Uptrend is still intact in a triangle configuration. It should continue to rally to 80.59 or 80.57 if support around 80.13 hold. After which a pullback to 80.13 - 79.99 zone is possible.
Warning: Imminent end of bullish move
Technical points
Key point80.55
Entry point80.26
Elliott77.37
Closing80.29
Projection87.27
Trendline79.99
Trendline80.06
Supports / Resistances
Res 280.85
Ex-High80.40
Res 180.57
Pivot80.13
Sup 179.85
Ex-Low79.68
Sup 279.40

Scenario for 23 February 2012

Elliott: extended impulse wave up 106.98
Scenario for today
Currently uptrend should end around 106.82 - 106.82 area. A correction down to below 105.69 is expected. A rise above 107.26 will abort the expected correction.
Warning: End of trend - Imminent end of bullish move
Technical points
Key point106.93
Entry point106.33
Elliott101.83
Closing106.38
Projection106.98
Trendline105.81
Trendline106.32
Supports / Resistances
Res 2107.26
Ex-High106.57
Res 1106.82
Pivot106.13
Sup 1105.69
Ex-Low105.44
Sup 2105.00

Scenario for 23 February 2012

Elliott: irregular flat correction down 1.5570
Scenario for today
Market should not go lower than 1.5601. After this move down it should go up to 1.5773 area.
Warning: Imminent end of bearish move
Technical points
Key point1.5608
Entry point1.5723
Elliott1.5880
Closing1.5670
Projection1.5517
Trendline1.5819
Trendline1.5781
Supports / Resistances
Res 21.5876
Ex-High1.5814
Res 11.5773
Pivot1.5711
Sup 11.5608
Ex-Low1.5649
Sup 21.5546

Scenario for 23 February 2012

Elliott: impulse wave up 0.8508
Scenario for today
Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8495 or 0.8484 if support around 0.8431 hold. After which a pullback to 0.8431 - 0.8417 zone is possible.
Warning: Imminent end of bullish move
Technical points
Key point0.8491
Entry point0.8432
Elliott0.8277
Closing0.8455
Projection0.8478
Trendline0.8380
Trendline0.8417
Supports / Resistances
Res 20.8512
Ex-High0.8460
Res 10.8484
Pivot0.8431
Sup 10.8402
Ex-Low0.8379
Sup 20.8350
More Forex analysis