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Daily Technical Analysis by FXCC November 29

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Daily Technical Analysis by FXCC November 29

Postby alayoua » Tue Nov 29, 2011 8:51 am

Daily Technical Analysis by FXCC November 29

Euro vs. US Dollar (EURUSD):EURUSD maintains a bid tone for now.Break above (1.34086) may trigger further recovery of the EURUSD. Going bellow latest swing low at (1.32725), however, would confirm continuation of the bearish trend, towards next objective downwards (1.30776). Try to sell on rallies with a stop loss above (1.34086)

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R1: 1.33839| R2: 1.34299| R3: 1.35133| R4: 1.35685| R5: 1.36394
S1: 1.32725| S2: 1.32121| S3: 1.31350| S4: 1.30776| S5: 1.30376

Great Britain Pound vs. US Dollar (GBPUSD):We prefer a downside scenario at this phase.
Since bias is bearish in nearest term targeting (1.53106). Another move back above (1.56042) could lead us to neutral zone. We will be looking to sell GBPUSD upon any price retracement.

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R1: 1.55578| R2: 1.56122| R3: 1.56916| R4: 1.57635| R5: 1.58538
S1: 1.54466| S2: 1.53845| S3: 1.53106| S4: 1.52487| S5: 1.51987


US Dollar vs. Japanese Yen USDJPY (USDJPY): We expect a bullish overall direction for today.
That requires the base to build on (77.580); targeting (78.329) then (78.675).
A break under (76.924) support area will extend losses to (76.026).
Our bias is on buying USDJPY with a stop loss under (76.924) for today.

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R1: 78.329| R2: 78.675| R3: 79.112| R4: 79.458| R5: 79.895
S1: 77.580| S2: 77.236| S3: 76.835| S4: 76.326| S5: 76.026

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