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Daily Technical Analysis by FXCC - October18

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Daily Technical Analysis by FXCC - October18

Postby alayoua » Tue Oct 18, 2011 10:15 am

Daily Technical Analysis by FXCC - October18


Euro vs. US Dollar (EURUSD):Strength in EURUSD is likely to continue. We see a less chances of an immediate fall on the instrument for short-term technical outlook. Next upside barriers follow (1.37922) at (1.38337) and (1.38940). Look for long positions for current trading session.

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R1: 1.37922| R2: 1.38337 | R3: 1.38940 | R4: 1.39812 | R5: 1.40482
S1: 1.36851 | S2: 1.36179 | S3: 1.35654 | S4: 1.34812 | S5: 1.34142

Great Britain Pound vs. US Dollar (GBPUSD):We see high chances of the pair move up gradually towards (1.58521 – 1.59340). A proper confirmation would occur if the GBPUSD will manage to overcome the (1.57980) resistance over today`s trading session. You may try to buy from (1.56889), (1.56243), and (1.55425) with a stop loss below (1.57206).

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R1: 1.57980| R2: 1.58521 | R3: 1.59340 | R4: 1.60079 | R5: 1.60579
S1: 1.56889| S2: 1.56243 | S3: 1.55425 | S4: 1.54925 | S5: 1.54425


US Dollar vs. Japanese Yen USDJPY (USDJPY):The USDJPY bias is neutral. Upper barrier is at (77.553), break above that area could trigger further short term upside pressure testing (77.806). On the downside, the important price level at (76.574) may be tested or broken in the coming sessions, which may pull the pair towards (75.605 – 75.253). You may try to buy from lower border and/or sell from upper border.

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R1: 77.215 | R2: 77.806 | R3: 78.158 | R4: 78.657 | R5: 79.009
S1: 76.456 | S2: 76.104 | S3: 75.605 | S4: 75.253 | S5: 74.953

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