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Daily Technical Analysis By FXCC - 07/10/2011

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Daily Technical Analysis By FXCC - 07/10/2011

Postby alayoua » Fri Oct 07, 2011 7:40 am

Daily Technical Analysis By FXCC - 07/10/2011
Euro vs. US Dollar (EURUSD):It's likely that EURUSD will decline. A break above (1.34608) could be a threat to the bearish scenario targeting (1.36680) even (1.37201). On the downside, immediate support is at (1.33837). Break below that area should keep the major bearish scenario intact testing (1.32414) area We will be looking to sell EURUSD upon any price retracement.


http://r.4xeagleeye.com/snap/fxcc.com/EURUSD/c/0

R1: 1.34794| R2: 1.35197 | R3: 1.35854 | R4: 1.36680 | R5: 1.37201
S1: 1.33837 | S2: 1.33305 | S3: 1.32414 | S4: 1.31666 | S5: 1.30919

Great Britain Pound vs. US Dollar (GBPUSD):We prefer a downside scenario at this phase. Since bias is bearish in nearest term targeting (1.50803). Another move back above (1.55117) could lead us to neutral zone. We will try to sell GBPUSD from our mentioned resistance levels.

http://r.4xeagleeye.com/snap/fxcc.com/GBPUSD/c/0

R1: 1.54943| R2: 1.55988 | R3: 1.56654 | R4: 1.57156 | R5: 1.57706
S1: 1.53406| S2: 1.51760 | S3: 1.50803 | S4: 1.49459 | S5: 1.48959


US Dollar vs. Japanese Yen USDJPY (USDJPY):The USDJPY still trapped in range area of (76.926– 76.462). A break in either direction will determine the trading bias in today`s session. Break below (76.462) could trigger further bearish pressure targeting (75.434), while break above (76.926) could trigger further bullish advances testing (77.996). You may try to buy from lower border and/or sell from upper border.

http://r.4xeagleeye.com/snap/fxcc.com/USDJPY/c/0

R1: 77.023 | R2: 77.396 | R3: 77.696 | R4: 77.996 | R5: 78.296
S1: 76.334 | S2: 76.034 | S3: 75.734 | S4: 75.434 | S5: 75.134

Source: FX Central Clearing Ltd. (FXCC)
http://www.fxcc.com/tech-analysis
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