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ForexPeoples Daily Technical Analysis for The Majors (4 P...

31 Jul 2012

Daily Technical Analysis for Tuesday, July 31, 2012 - by ForexPeoplesDotCom

The big trend by look with TCCI - till now still on bulls, of course. But for today move, be aware of the bearish - I see the price try to test again to that 23.6 fib line (at 1.2195). So, of course - this could probably bearish first here till that 23.6 fib. But, for big move = this pair on still probably bulls = Once again = I see the TCCI 20day still give us a bulls pic to us.

The bulls of this pair (GBPUSD) look difficult to up = it's because price now must break that strong supply area that now appear above the current price. So, I see this will probably to just consolidation first near that supply area. but, if we see to the TCCI = the TCCI still show the bulls and we can say this pair (GBPUSD) can start bulls again after truly price can break up more that supply area near 1.5717.

I see = the bearish trend still here (USDJPY) but with weak move after price now on near that support area (77.94). With this look = I see - it's better to just wait and see - then, we can sell again here after truly price can break more down to that strong support line (77.94), of course.

USDCHF on look bulls = we see the price candle on the previous day = look like bulls pinbar = So, yes = this can product bulls max. to test again that 0.9840. So, with this look = search for Buy OP on smaller TF = better idea, I see. :)

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