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Daily Technical Analysis by FXCC - October 13 2011

Discussion in 'Market Predictions and Reports' started by alayoua, Oct 13, 2011.

  1. alayoua

    alayoua Banned

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    Daily Technical Analysis by FXCC - October 13 2011

    Euro vs. US Dollar (EURUSD):We expect a bullish overall direction for today. That requires the base to build on (1.37350); targeting (1.38337) then (1.38875). A break under (1.35725) support area will extend losses to (1.35245). Look for long positions for today`s trading session.

    [​IMG]

    R1: 1.38337| R2: 1.38875 | R3: 1.39862 | R4: 1.41387 | R5: 1.42374
    S1: 1.37350 | S2: 1.36838 | S3: 1.36363 | S4: 1.35825 | S5: 1.35245

    Great Britain Pound vs. US Dollar (GBPUSD):We believe that possible bullishness could be seen during this trading session. Support is at (1.55325). Break below that area could lead us to neutral zone as direction would become unclear, but as long as price moves above that level the major scenario remains bullish. You may try to buy from (1.56958), (1.56243), and (1.55425) with a stop loss below (1.55325).

    [​IMG]

    R1: 1.58491| R2: 1.59513 | R3: 1.61046 | R4: 1.62068 | R5: 1.63601
    S1: 1.56958| S2: 1.56243 | S3: 1.55425 | S4: 1.54841 | S5: 1.54199


    US Dollar vs. Japanese Yen USDJPY (USDJPY):We see high chances of the pair move up gradually towards (78.179 – 78.873). A proper confirmation would occur if the USDJPY will manage to overcome the (77.699) resistance over today`s trading session. Long positions are favored for today.

    [​IMG]

    R1: 77.699 | R2: 78.179 | R3: 78.873 | R4: 79.353 | R5: 80.047
    S1: 76.909 | S2: 76.562 | S3: 75.831 | S4: 75.351 | S5: 74.657

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

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