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Daily Technical Analysis by FXCC November 28

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Daily Technical Analysis by FXCC November 28

Postby alayoua » Mon Nov 28, 2011 8:11 am

Daily Technical Analysis by FXCC November 28

Euro vs US Dollar It's likely that EURUSD will decline. A break above (1.3383) could be a threat to the bearish scenario targeting (1.35956) even (1.36356). On the downside, immediate support is at (1.32647).
Break below that area should keep the major bearish scenario intact testing (1.31256) area
Try to sell on rallies with a stop loss above (1.3383).

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R1: 1.33839| R2: 1.34299 | R3: 1.35408 | R4: 1.35956 | R5:1.36356
S1: 1.32647 | S2:1.32121 | S3: 1.31256 | S4: 1.30392 | S5: 1.29865


Great Britian Pound vs US Dollar We prefer a downside scenario at this phase.
Since bias is bearish in nearest term targeting (1.53009). Another move back above (1.55281) could lead us to neutral zone.
Try to sell on rallies with a stop loss above (1.55281).

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R1: 1.55519 | R2: 1.56122 | R3: 1.56805 | R4: 1.57336 | R5:1.58061
S1: 1.54296 | S2:1.53621 | S3: 1.53009 | S4: 1.52509 | S5: 1.52009


US Dollar vs Japanise Yen The USDJPY still trapped in range area of (77.890– 76.924). A break in either direction will determine the trading bias in today`s session. Break below (76.924) could trigger further bearish pressure targeting (75.801), while break above (77.890) could trigger further bullish advances testing (79.634).
We should wait for a clearer outlook on USDJPY.

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R1: 77.928 | R2: 78.631 | R3: 79.334 | R4: 79.634 | R5:79.934
S1: 77.024 | S2:76.572 | S3: 76.101 | S4: 75.801 | S5: 75.501


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