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Daily Technical Analysis by FXCC November 17

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Daily Technical Analysis by FXCC November 17

Postby alayoua » Thu Nov 17, 2011 8:21 am

Daily Technical Analysis by FXCC November 17

Euro vs US Dollar We see better value in short positions.
If the price will go below the first support at (1.34083), this would confirm continuation of the bearish trend, towards next objective downwards (1.33542) then (1.32798) and (1.32257) will follow.
Short positions are favored for today.

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R1: 1.35368 | R2: 1.36112 | R3: 1.36653 | R4: 1.37397 | R5:1.37938
S1: 1.34083 | S2:1.33542 | S3: 1.32798 | S4: 1.32257 | S5: 1.31857


Great Britian Pound vs US Dollar It's likely that GBPUSD will decline. A break above (1.59415) could be a threat to the bearish scenario targeting (1.60017) even (1.60930). On the downside, immediate support is at (1.56527).
Break below that area should keep the major bearish scenario intact testing (1.55337) area
Sell on rally for today with a stop loss above (1.59415).

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R1: 1.57927 | R2: 1.58617 | R3: 1.59315 | R4: 1.60017 | R5:1.60930
S1: 1.56527 | S2:1.55837 | S3: 1.55337 | S4: 1.54837 | S5: 1.54337


US Dollar vs Japanise Yen USDJPY is at a crossroads, the instrument has a 50 – 50 chance of a recovery above (77.249) or a fall towards (76.754) in the coming session. We have to wait and watch the movement of the instrument from current levels.
We need to hold for current session.

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R1: 77.469 | R2: 77.885 | R3: 78.185 | R4: 78.485 | R5:78.785
S1: 76.419 | S2:76.119 | S3: 76.119 | S4: 75.819 | S5: 75.519


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