Daily Technical Analysis by FXCC December 07

Daily Technical Analysis by FXCC December 07

Euro vs. US Dollar (EURUSD): Overall the direction remains unclear. EURUSD might close below
(1.33507). If seen this will call for more declines to the (1.32522) level. Further down, support
is located at (1.31979). Alternatively, above the (1.34378) level it will to be traded to resume its
medium term uptrend towards its important resistance at (1.36710). We prefer to wait for break of
upper or lower barrier.

http://farm8.staticflickr.com/7155/6...199fda446c.jpg

R1: 1.34729| R2: 1.35210| R3: 1.35767| R4: 1.36310| R5: 1.36710
S1: 1.33630| S2: 1.32940| S3: 1.32522| S4: 1.31979| S5: 1.31579


Great Britain Pound vs. US Dollar (GBPUSD): GBPUSD is at a crossroads, the instrument has a 50 –
50 chance of a recovery above (1.57276) or a fall towards (1.55512) in the coming session. We have
to wait and watch the movement of the instrument from current levels.
We prefer to wait for break of upper or lower barrier.

http://farm8.staticflickr.com/7170/6...26b68345d7.jpg

R1: 1.56544| R2: 1.57106| R3: 1.57799| R4: 1.58600| R5: 1.59100
S1: 1.55259| S2: 1.54690| S3: 1.54022| S4: 1.53522| S5: 1.53022


US Dollar vs. Japanese Yen USDJPY (USDJPY): Strength in USDJPY 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 (78.055) at (78.355) and (78.655). Try to buy on depth with a stop loss
below (77.537).

http://farm8.staticflickr.com/7015/6...52b0e1614b.jpg

R1: 78.055| R2: 78.355| R3: 78.655| R4: 78.955| R5: 79.255
S1: 77.401| S2: 77.101| S3: 76.801| S4: 76.501| S5: 76.201

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