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Daily Technical Analysis by FXCC November 18

Discussion in 'Market Predictions and Reports' started by alayoua, Nov 18, 2011.

  1. alayoua

    alayoua Banned

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    Daily Technical Analysis by FXCC November 18


    Euro vs US Dollar We expect a bearish overall direction for today.
    as far as (1.35499) remains intact; targeting (1.34060) then (1.33547). A close above (1.35499) resistance area will extend gains to (1.37606).
    Sell on rally for today with a stop loss above (1.35499).

    [​IMG]

    R1: 1.35178 | R2: 1.35911 | R3: 1.36424 | R4: 1.37093 | R5:1.37606
    S1: 1.34060 | S2:1.33547 | S3: 1.32878 | S4: 1.32365 | S5: 1.31965


    Great Britian Pound vs US Dollar We believe that possible bearishness could be seen during this trading session.
    Immediate resistance is at (1.58226). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
    Look for short positions for current trading session.

    [​IMG]

    R1: 1.58126 | R2: 1.58721 | R3: 1.59315 | R4: 1.59948 | R5:1.60557
    S1: 1.56918 | S2:1.56309 | S3: 1.55705 | S4: 1.55096 | S5: 1.54596


    US Dollar vs Japanise Yen The bias remains neutral in nearest term. A need for a clear break from the range area (77.193 – 76.754) so we can see clearer direction. Break below (76.754) could trigger further bearish pressure targeting (75.733) and keep the major bearish scenario remains strong while break above (77.193) could trigger further bullish correction testing (78.485).
    We need to keep a closer look on how prices would behave on today`s trading session.


    [​IMG]

    R1: 77.353 | R2: 77.885 | R3: 78.185 | R4: 78.485 | R5:78.785
    S1: 76.633 | S2:76.333 | S3: 76.033 | S4: 75.733 | S5: 75.433

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

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