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Update Daily Technical Levels from FXCC 16 Aug 2011

Discussion in 'Market Predictions and Reports' started by alayoua, Aug 16, 2011.

  1. alayoua

    alayoua Banned

    Jul 19, 2011
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    Update Daily Technical Levels from FXCC 16 Aug 2011

    Intraday Technical Levels:

    Pivot: 1.442
    Preference: Short positions below 1.442 with targets @ 1.4325 & 1.4275 in extension.
    Alternative Scenario: Above 1.442 look for further upside with 1.4475 & 1.454 as targets.
    Comment: the RSI is badly directed, the pair is under pressure and should face further weakness.

    Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT] 77.2
    [FONT=&quot]Preference: [/FONT]Short positions below 77.2 with targets @ 76.5 & 76.3 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Above 77.2 look for further upside with 77.5 & 77.75 as targets.
    [FONT=&quot]Comment: [/FONT]the pair stands below its resistance and remains under pressure.

    Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT]1.6325
    [FONT=&quot]Preference: [/FONT] Long positions above 1.6325 with targets @ 1.641 & 1.645 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Below 1.6325 look for further downside with 1.63 & 1.6265 as targets.
    [FONT=&quot]Comment: [/FONT] the pair has rebounded on its support and should post further advance.

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

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