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Update Daily Technical Levels from FXCC 24 Aug 2011

Discussion in 'Market Predictions and Reports' started by alayoua, Aug 24, 2011.

  1. alayoua

    alayoua Banned

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    Update Daily Technical Levels from FXCC 24 Aug 2011

    EUR/USD
    Intraday Technical Levels:

    Pivot: 1.44
    Preference: Long positions above 1.44 with targets @ 1.448 & 1.4515 in extension.
    Alternative Scenario: Below 1.44 look for further downside with 1.4375 & 1.4345 as targets.
    Comment: the pair remains on the upside and is challenging its resistance, a pull back should not be ruled out ahead of further advance.
    USD/JPY
    Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT] 76.9
    [FONT=&quot]Preference: [/FONT] Short positions below 76.9 with targets @ 76.4 & 76.2 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Above 76.9 look for further upside with 77 & 77.25 as targets.
    [FONT=&quot]Comment: [/FONT] the RSI is badly directed, the pair is under pressure and is approaching its support.

    GBP/USD
    Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT] 1.6525
    [FONT=&quot]Preference: [/FONT] Short positions below 1.6525 with targets @ 1.6435 & 1.641 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Above 1.6525 look for further upside with 1.6575 & 1.66 as targets.
    [FONT=&quot]Comment: [/FONT] the RSI is badly directed, the pair is breaking below its support and should face further weakness.

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

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