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Daily Technical Analysis by FXCC October 24

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Daily Technical Analysis by FXCC October 24

Postby alayoua » Mon Oct 24, 2011 7:46 am

Daily Technical Analysis by FXCC October 24

Euro vs. US Dollar (EURUSD):The outlook has grown increasingly bullish since EURUSD had remained above its latest swing low at (1.36939). If this support level is broken to the downside, the outlook will deteriorate. Our bias is on buying EURUSD with a stop loss under (1.36939) for today.

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R1: 1.38940| R2: 1.39394 | R3: 1.40021 | R4: 1.41102 | R5: 1.41729
S1: 1.38174 | S2: 1.37686 | S3: 1.37250 | S4: 1.36730 | S5: 1.35978


Great Britain Pound vs. US Dollar (GBPUSD):We expect a bullish overall direction for today. That requires the base to build on (1.57740); targeting (1.60019) then (1.60574). A break under (1.57436) support area will extend losses to (1.55358). Buy on depth for today with a stop loss below (1.57436).

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R1: 1.60019| R2: 1.60574 | R3: 1.61323 | R4: 1.61823 | R5: 1.62323
S1: 1.57740| S2: 1.57217 | S3: 1.56662 | S4: 1.56107 | S5: 1.55358


US Dollar vs. Japanese Yen USDJPY (USDJPY):We see high chances of the pair move down gradually towards (76.219 – 75.892). A proper confirmation would occur if the USDJPY will manage to close below the (76.519) support over today`s trading session. Look for short positions for current trading session.

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R1: 77.453 | R2: 77.773 | R3: 78.100 | R4: 78.400 | R5: 78.727
S1: 76.519 | S2: 76.219 | S3: 75.892 | S4: 75.592 | S5: 75.292

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