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Daily Technical Analysis by FXCC December 01

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Daily Technical Analysis by FXCC December 01

Postby alayoua » Thu Dec 01, 2011 8:13 am

Daily Technical Analysis by FXCC December 01

Euro vs. US Dollar (EURUSD):The EURUSD bias is neutral. Upper barrier is at (1.35428), break above that area could trigger further short term upside pressure testing (1.36863). On the downside, the important price level at (1.32490) may be tested or broken in the coming sessions, which may pull the pair towards (1.32940 – 1.32121). We prefer to wait for break of upper or lower barrier.

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R1: 1.35328| R2: 1.36863| R3: 1.38397| R4: 1.39601| R5: 1.41135
S1: 1.33986| S2: 1.33540| S3: 1.32940| S4: 1.32121| S5: 1.31387

Great Britain Pound vs. US Dollar (GBPUSD):We see high chances of the pair move in a range between (1.57899 – 1.55159). A proper move above (1.57899) confirms a probable rally towards (1.61776). However, if GBPUSD manage to close below (1.55159) will support a call for bid tone.
We need to keep a closer look on how prices would behave on today`s trading session.

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R1: 1.57635| R2: 1.59236| R3: 1.60673| R4: 1.61776| R5: 1.63213
S1: 1.56122| S2: 1.55593| S3: 1.54948| S4: 1.54296| S5: 1.53053


US Dollar vs. Japanese Yen USDJPY (USDJPY):The bias remains neutral in nearest term. A need for a clear break from the range area (78.254 – 77.231) so we can see clearer direction. Break below (77.231) could trigger further bearish pressure targeting (76.052) and keep the major bearish scenario remains strong while break above (78.254) could trigger further bullish correction testing (79.344). We should wait for the victory of either team players (Bulls or Bears).

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R1: 78.066| R2: 78.521| R3: 78.889| R4: 79.344| R5: 79.712
S1: 77.243| S2: 76.875| S3: 76.420| S4: 76.052| S5: 75.752

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