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Daily Technical Analysis by FXCC October 26

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Daily Technical Analysis by FXCC October 26

Postby alayoua » Wed Oct 26, 2011 7:25 am

Daily Technical Analysis by FXCC October 26

Euro vs. US Dollar (EURUSD):We believe that possible bullishness could be seen during this trading session. Support is at (1.38811). Break below that area could lead us to neutral zone as direction would become unclear, but as long as price moves above that level the major scenario remains bullish. Longing EURUSD is advisable for today.

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R1: 1.39539| R2: 1.40177 | R3: 1.40750 | R4: 1.41298 | R5: 1.41871
S1: 1.38508 | S2: 1.38084 | S3: 1.37387 | S4: 1.36814 | S5: 1.36414

Great Britain Pound vs. US Dollar (GBPUSD):We see high chances of the pair move up gradually towards (1.61637 – 1.62137). A proper confirmation would occur if the GBPUSD will manage to overcome the (1.60811) resistance over today`s trading session. Look for long positions for today`s trading session.

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R1: 1.60811| R2: 1.61637 | R3: 1.62137 | R4: 1.62637 | R5: 1.63137
S1: 1.59159| S2: 1.58478 | S3: 1.57928 | S4: 1.57306 | S5: 1.56315


US Dollar vs. Japanese Yen USDJPY (USDJPY):USDJPY maintains a bid tone for now. Break above (76.400) may trigger further recovery of the USDJPY. Going bellow latest swing low at (75.735), however, would confirm continuation of the bearish trend, towards next objective downwards (74.604). Shorting USDJPY is advisable for today.

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R1: 76.484 | R2: 76.899 | R3: 77.453 | R4: 77.753 | R5: 78.053
S1: 75.735 | S2: 75.204 | S3: 74.904 | S4: 74.604 | S5: 74.304

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