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TOPIC: Daily Technical Analysis by FXCC 15Dec11

Daily Technical Analysis by FXCC 15Dec11 3 years 1 week ago #871

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Daily Technical Analysis by FXCC 15Dec11

Euro vs. US Dollar (EURUSD): We prefer a downside scenario at this phase.
Since bias is bearish in nearest term targeting (1.28096). Another move back above (1.32467) could lead us to neutral zone. We will be looking to sell EURUSD upon any price retracement.



R1: 1.30476| R2: 1.31155| R3: 1.31607| R4: 1.32345| R5: 1.32814
S1: 1.29286| S2: 1.28775| S3: 1.28096| S4: 1.27585| S5: 1.27185

Great Britain Pound vs. US Dollar (GBPUSD): We see better value in short positions.
If the price will go below the first support at (1.54083), this would confirm continuation of the bearish trend, towards next objective downwards (1.53441) then (1.52800) and (1.52209) will follow. Try to sell on rallies with a stop loss above (1.56397).



R1: 1.55264| R2: 1.55847| R3: 1.56375| R4: 1.57137| R5: 1.57697
S1: 1.54083| S2: 1.53441| S3: 1.52800| S4: 1.52209| S5: 1.51709


US Dollar vs. Japanese Yen USDJPY (USDJPY): USDJPY is at a crossroads, where it is recommended to evaluate the development of the activity of both parties. A close above (78.259) will call for (79.315), and Loss of (77.821) sees (76.828). We need to hold for today.



R1: 78.415| R2: 78.715| R3: 79.015| R4: 79.315| R5: 79.615
S1: 77.701| S2: 77.128| S3: 76.828| S4: 76.528| S5: 76.228

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