Short-term Technical Trend in the Foreign Exchange

[sarahfx]

The focus is still put on the sovereign debt crisis of euro zone in the foreign exchange market, investors are worried that the global economic recovery will be affected, and then risk aversion is growing.
Weekly chart shows that the U.S. dollar against Canadian dollar stood steadily by the down trend line for two weeks. MACD indicators and crocodile line showed a trend of compression heavy volume, indicating that there are requirements of breakthrough with foreign exchange rate in short-term. It is expected that the short-term foreign exchange rate will make arrangement between the line UP and the line MB, but the dollar is still showing on the buy trend. So this week, when operation, investors can do more back to the exploration, buying price at 1.0465 nearby, stop at 1.0432 and target 1.0760.
The Week Chart shows that in technical surface, GBP against USD downtrend has been established, unless the foreign exchange rate line break week K pressure line of the exchange rate does it can reverse the situation. Technical chart clearly reflects the current foreign exchange rate has triggered support of the week bottom line, and the foreign exchange rate rebounded last weekend, closing at the day high. Therefore, the foreign exchange rate will continue to rebound this week, this week.