Update - Daily Technical Levels from FXCC – 20 Sep 2011

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Update - Daily Technical Levels from FXCC – 20 Sep 2011

EUR/USD Intraday Technical Levels:

Pivot: 1.365
Preference: Long positions above 1.365 with targets @ 1.375 & 1.3835 in extension.
Alternative Scenario: Below 1.365 look for further downside with 1.3595 & 1.3555 as targets.
Comment: the RSI is well directed, the contract is on the upside and is breaking above its resistance.

USD/JPY Intraday Technical Levels:

Pivot: 76.75
Preference: Short positions below 76.75 with targets @ 76.4 & 76.3 in extension.
Alternative Scenario: Above 76.75 look for further upside with 77.05 & 77.25 as targets.
Comment: the pair stands below its resistance and remains under pressure.

GBP/USD Intraday Technical Levels:
Pivot: 1.574
Preference: Short positions below 1.574 with targets @ 1.5675 & 1.563 in extension.
Alternative Scenario: Above 1.574 look for further upside with 1.5770 & 1.5825 as targets.
Comment: the pair is posting a rebound and is challenging its MT bearish channel upper boundary, the RSI calls for caution.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing ECN Forex Trading | ECN Forex Broker | Forex Trading Accounts | FXCC