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Daily Technical Analysis by FXCC November 04

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Daily Technical Analysis by FXCC November 04

Postby alayoua » Fri Nov 04, 2011 7:45 am

Daily Technical Analysis by FXCC November 04


Euro vs US Dollar Weakness in EURUSD is likely to continue.

We see a less chances of an immediate rise on the instrument for short-term technical outlook. Next downside barriers follow (1.37781) at (1.37011) and (1.36596).
Try to sell on rallies with a stop loss above (1.38650).

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R1: 1.38911 | R2: 1.39747 | R3: 1.40537 | R4: 1.40983 | R5:1.41599

S1: 1.37781 | S2:1.37011 | S3: 1.36596 | S4: 1.36082 | S5: 1.35025


Great Britian Pound vs US Dollar We see high chances of the pair move in a range between (1.60713 – 1.58661). A proper move above (1.60713) confirms a probable rally towards (1.63625). However, if GBPUSD manage to close below (1.58661) will support a call for bid tone.

We need to hold for current session.

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R1: 1.61081 | R2: 1.61661 | R3: 1.62933 | R4: 1.63625 | R5: 1.64785

S1: 1.59782 | S2: 1.59229 | S3: 1.58069 | S4: 1.57377 | S5: 1.56217



US Dollar vs Japanise Yen We see high chances of the pair move up gradually towards (78.999 – 79.533).

A proper confirmation would occur if the USDJPY will manage to overcome the (78.449) resistance over today`s trading session.
Long positions are favored for today.

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R1: 78.449 | R2: 78.999 | R3: 79.533 | R4: 79.533 | R5: 80.133

S1: 77.639 | S2: 76.322 | S3: 76.002 | S4: 75.673 | S5: 75.373


Source: FX Central Clearing Ltd. (FXCC)

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