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Daily Technical Analysis by FXCC November 22

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Daily Technical Analysis by FXCC November 22

Postby alayoua » Tue Nov 22, 2011 8:43 am

Daily Technical Analysis by FXCC November 22


Euro vs US Dollar We believe that possible bearishness could be seen during this trading session.

Immediate resistance is at (1.35508). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
Try to sell on rallies with a stop loss above (1.35508).

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R1: 1.35399 | R2: 1.35969 | R3: 1.36531 | R4: 1.37078 | R5:1.37640

S1: 1.34468 | S2:1.33751 | S3: 1.33204 | S4: 1.32642 | S5: 1.32242


Great Britian Pound vs US Dollar We believe that possible bearishness could be seen during this trading session.

Immediate resistance is at (1.57735). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
Short positions are favored for today.

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R1: 1.56913 | R2: 1.57535 | R3: 1.58061 | R4: 1.58676 | R5:1.59315

S1: 1.55688 | S2:1.54982 | S3: 1.53841 | S4: 1.53135 | S5: 1.52635



US Dollar vs Japanise Yen We see high chances of the pair move in a range between (77.092 – 76.661). A proper move above (77.092) confirms a probable rally towards (78.120). However, if USDJPY manage to close below (76.661) will support a call for bid tone.

We should wait for a clearer outlook on USDJPY.

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R1: 77.220 | R2: 77.520 | R3: 77.820 | R4: 78.120 | R5:78.420

S1: 76.572 | S2:76.272 | S3: 75.972 | S4: 75.672 | S5: 75.372



Source: FX Central Clearing Ltd. (FXCC)

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