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Daily Technical Levels from FXCC 8 Aug 2011

Discussion in 'Market Predictions and Reports' started by alayoua, Aug 8, 2011.

  1. alayoua

    alayoua Banned

    Jul 19, 2011
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    Daily Technical Levels from FXCC 8 Aug 2011

    Intraday Technical Levels:
    Pivot: [FONT=&quot]1.4250.[/FONT]
    Preference: LONG positions @ 1.426 with 1.4375 & 1.4405 as next targets.
    Alternative Scenario: The downside penetration of 1.425 will call for a slide towards 1.42 & 1.416.
    Comment: the pair has broken above its MT bearish channel upper boundary and should post further advance.
    Intraday Technical Levels:
    [FONT=&quot]Pivot: 78.60.[/FONT]
    [FONT=&quot]Preference: [/FONT]SHORT positions @ 78.55 with 77.5 & 77 as next targets.
    [FONT=&quot]Alternative Scenario: [/FONT] The upside penetration of 78.6 will call for a rebound towards 79 & 79.25.
    [FONT=&quot]Comment: [/FONT]the pair is breaking below its support and should face further weakness.

    Intraday Technical Levels:
    [FONT=&quot]Pivot: 1.6350.[/FONT]
    [FONT=&quot]Preference: [/FONT]LONG positions @ 1.636 with 1.644 & 1.6475 as next targets.
    [FONT=&quot]Alternative Scenario: [/FONT]The downside penetration of 1.635 will call for a slide towards 1.63 & 1.6255.
    [FONT=&quot]Comment: [/FONT]the pair remains on the upside and is challenging its resistance.

    Daily Technical Levels from fxcc.com
    Source: FX Central Clearing

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