GBP/USD Forex chart

Summary : Target Level : 1.4901Target Period : 2 days
Analysis :
Falling Wedge identified at 30-Mar-23:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.49 within the next 2 days.
Resistance Levels :
( B ) 1.4901Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.4753Last support turning point of Falling Wedge.

 

EUR/JPY chart

Summary : Target Level : 128.412Target Period : 3 days
Analysis :
Triangle identified at 24-Mar-20:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 128.412 within the next 3 days.
Resistance Levels :
( B ) 131.5165Last resistance turning point of Triangle.
Support Levels
( A ) 128.412Last support turning point of Triangle.

 

FX EUR/USD Chart

Summary : Target Level : 1.0613Target Period : 2 days
Analysis :
Triangle identified at 23-Mar-03:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.061 within the next 2 days.
Resistance Levels :
( B ) 1.0881Last resistance turning point of Triangle.

Support Levels
( A ) 1.0613Last support turning point of Triangle.

Housing starts slumped in February

Housing starts slumped in February by the most in four years as bad winter weather in parts of the U.S. prevented builders from initiating new projects.
Work began on 897,000 houses at an annualized rate, down 17 percent from January and the fewest in a year, the Commerce Department reported Tuesday in Washington. The median estimate of 80 economists surveyed by Bloomberg called for 1.04 million.

“It was just the weather, basically,” said Richard Moody, chief economist at Regions Financial Corp. in Birmingham, Alabama. Still, “my view of the recovery in single-family housing is that it’s coming more gradually than others think.”
An increase in building permits was driven by applications for multifamily units, indicating single-family construction, the biggest part of the market, will keep struggling. While stronger hiring and low borrowing costs have helped the industry advance, sales remain challenged by limited supply of cheaper homes and sluggish wage growth.
The median estimate of 81 economists in the Bloomberg survey called for 1.04 million starts. Estimates ranged from annualized rates of 975,000 to 1.08 million after a previously reported January pace of 1.07 million.

USD/JPY Chart

Summary : Target Level : 120.6565Target Period : 3 days
Analysis :
Triangle identified at 16-Mar-00:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 120.656 within the next 3 days.
Resistance Levels :
( B ) 121.569Last resistance turning point of Triangle.
Support Levels
( A ) 120.6565Last support turning point of Triangle.

 

USD/CAD Chart

Summary : Target Level : 1.2618Target Period : 2 days
Analysis :
Channel Up identified at 16-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.262 within the next 2 days.
Resistance Levels :
( B ) 1.2824Last resistance turning point of Channel Up.
Support Levels
( A ) 1.2618Last support turning point of Channel Up.

 

GBP/USD Chart

Summary : Target Level : 1.5097Target Period : 2 days
Analysis :
Channel Down identified at 12-Mar-06:00 2015 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.51 within the next 2 days.
Resistance Levels :
( B ) 1.5097Last resistance turning point of Channel Down.
Support Levels ( A ) 1.4893Last support turning point of Channel Down.