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Update - Daily Technical Levels from FXCC – 1 Aug 2011

Discussion in 'Market Predictions and Reports' started by alayoua, Aug 1, 2011.

  1. alayoua

    alayoua Banned

    Jul 19, 2011
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    Update - Daily Technical Levels from FXCC – 1 Aug 2011

    EUR/USD Intraday Technical Levels:

    Pivot: 1.435
    Preference: Long positions above 1.435 with targets @ 1.4465 & 1.454 in extension.
    Alternative Scenario: Below 1.435 look for further downside with 1.4275 & 1.4225 as targets.
    Comment: the RSI is supported by a rising trend line, the pair is on the upside and is challenging its resistance.

    USD/JPY Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT]77.4
    [FONT=&quot]Preference: [/FONT]Short positions below 77.4 with targets @ 76.75 & 76.5 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Above 77.4 look for further upside with 77.75 & 78 as targets.
    [FONT=&quot]Comment: [/FONT]the pair remains on the downside and is approaching its previous low.

    GBP/USD Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT]1.6375
    [FONT=&quot]Preference: [/FONT]Long positions above 1.6375 with targets @ 1.6475 & 1.6510 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT]Below 1.6375 look for further downside with 1.632 & 1.626 as targets.
    [FONT=&quot]Comment: [/FONT]the pair is pulling back on its support ahead of a rebound.

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

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