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Daily Technical Analysis by FXCC 21Dec11

Discussion in 'Market Predictions and Reports' started by alayoua, Dec 21, 2011.

  1. alayoua

    alayoua Banned

    Jul 19, 2011
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    Daily Technical Analysis by FXCC 21Dec11

    Euro vs. US Dollar (EURUSD): We prefer a downside scenario at this phase.
    Since bias is bearish in nearest term targeting (1.28666). Another move back above (1.31416) could lead us to neutral zone. Shorting EURUSD is advisable for today.


    R1: 1.31316| R2: 1.32076| R3: 1.32836| R4: 1.33466| R5: 1.34226
    S1: 1.30056| S2: 1.29454| S3: 1.28666| S4: 1.27906| S5: 1.27506

    Great Britain Pound vs. US Dollar (GBPUSD): The GBPUSD still trapped in range area of (1.57108– 1.54830). A break in either direction will determine the trading bias in today`s session. Break below (1.54830) could trigger further bearish pressure targeting (1.53290), while break above (1.57108) could trigger further bullish advances testing (1.60312). We prefer to wait for break of upper or lower barrier.


    R1: 1.57420| R2: 1. 1.58247| R3: 1.59485| R4: 1.60312| R5: 1.61550
    S1: 1.55724| S2: 1.54930| S3: 1.54117| S4: 1.53290| S5: 1.52052

    US Dollar vs. Japanese Yen USDJPY (USDJPY): Overall the direction remains unclear. USDJPY might close below (77.614). If seen this will call for more declines to the (76.899) level. Further down, support is located at (76.599). Alternatively, above the (78.269) level it will to be traded to resume its medium term uptrend towards its important resistance at (79.463). We need to hold for current session.


    R1: 78.222| R2: 78.563| R3: 78.863| R4: 79.163| R5: 79.463
    S1: 77.540| S2: 77.199| S3: 76.899| S4: 76.599| S5: 76.299

    Source: FX Central Clearing Ltd. (FXCC)
    Technical Analysis

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