Daily Technical Analysis by FXCC 12Dec2011

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Daily Technical Analysis by FXCC 12Dec11


Euro vs US Dollar Weakness in EURUSD is likely to continue.
We see a less chances of an immediate rise on the instrument for short-term technical outlook. Next downside barriers follow (1.33331) at (1.32889) and (1.32127).
Look for short positions for current trading session.



R1: 1.34278 | R2: 1.34866 | R3: 1.35478 | R4: 1.36012 | R5: 1.36699
S1: 1.33331 | S2: 1.32889 | S3: 1.32127 | S4: 1.31440 | S5: 1.30603



Great Britian Pound vs US Dollar The outlook has grown increasingly bullish since GBPUSD had remained above its latest swing low at (1.55747).
If this support level is broken to the downside, the outlook will deteriorate.
We will try to buy GBPUSD from our mentioned support levels.



R1: 1.57176 | R2: 1.57697 | R3: 1.58855 | R4: 1.59603 | R5: 1.60356
S1: 1.55944 | S2: 1.55100 | S3: 1.54352 | S4: 1.53599 | S5: 1.53099



US Dollar vs Japanise Yen USDJPY is at a crossroads, where it is recommended to evaluate the development of the activity of both parties.
A close above (77.940) will call for (78.881), and Loss of (77.028) sees (76.701).
Look for a close above/below either barrier.



R1: 77.981 | R2: 78.281 | R3: 78.581 | R4: 78.881 | R5: 79.181
S1: 77.301 | S2: 77.001 | S3: 76.701 | S4: 76.401 | S5: 76.101



Source: FX Central Clearing Ltd. (FXCC)
Technical Analysis