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Daily Technical Analysis by FXCC November 02

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Daily Technical Analysis by FXCC November 02

Postby alayoua » Wed Nov 02, 2011 9:21 am

Daily Technical Analysis by FXCC November 02

Euro vs. US Dollar (EURUSD): We can say that additional bearish movements could be seen during current session, particularly if it succeeded to maintain prices below (1.40637) zones. A proper confirmation would occur if the EURUSD will manage to fall beyond the (1.36082) support level. We will be looking to sell EURUSD upon any price retracement.


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R1: 1.37640 | R2: 1.38215 | R3: 1.38911 | R4: 1.39539 | R5: 1.40537

S1: 1.36082 | S2: 1.34635 | S3: 1.33187 | S4: 1.32005 | S5: 1.31605

Great Britain Pound vs. US Dollar (GBPUSD): Overall the direction remains unclear and price is moving in (1.61761 - 1.58803) range area, the instrument has a 50 – 50 chance of a recovery above (1.61761) or a fall towards (1.58803) in the coming session. We need to hold for today.

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R1: 1.60000 | R2: 1.60646 | R3: 1.61411 | R4: 1.62692 | R5: 1.63866

S1: 1.58905 | S2: 1.57728 | S3: 1.56554 | S4: 1.55682 | S5: 1.55182


US Dollar vs. Japanese Yen USDJPY (USDJPY): Strength in USDJPY is likely to continue. We see a less chances of an immediate fall on the instrument for short-term technical outlook. Next upside barriers follow (78.910) at (79.448) and (79.898). Long positions are favored for today.


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R1: 78.910 | R2: 79.448 | R3: 79.898 | R4: 80.436 | R5: 80.886

S1: 78.011 | S2: 77.472 | S3: 76.934 | S4: 76.484 | S5: 76.159

Source: FX Central Clearing Ltd. (FXCC)

http://www.fxcc.com/tech-analysis
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alayoua
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