Daily Technical Analysis by FXCC 19Dec11

Daily Technical Analysis by FXCC 19Dec11


Euro vs US Dollar We prefer a downside scenario at this phase.
Since bias is bearish in nearest term targeting (1.28613). Another move back above (1.32467) could lead us to neutral zone.
You may try to sell from (1.30841), (1.31292), and (1.31742) with a stop loss above (1.32467).

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R1: 1.30841| R2: 1.31292| R3: 1.31742| R4: 1.32185| R5: 1.32635
S1: 1.29506| S2: 1.29063| S3: 1.28613| S4: 1.28213| S5: 1.27813


Great Britian Pound vs US Dollar Overall the direction remains unclear. GBPUSD might close below (1.53983). If seen this will call for more declines to the (1.53286) level. Further down, support is located at (1.52786). Alternatively, above the (1.56397) level it will to be traded to resume its medium term uptrend towards its important resistance at (1.58207).
A hold for a clearer technical outlook is advisable.

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R1: 1.56018| R2: 1.56575| R3: 1.57207| R4: 1.57707| R5: 1.58207
S1: 1.54530| S2: 1.53786| S3: 1.53286| S4: 1.52786| S5: 1.52286



US Dollar vs Japanise Yen The outlook has grown increasingly bearish since USDJPY had remained below its latest swing high at (78.259).
If this resistance level is broken to the upside, the outlook will deteriorate.
We will try to sell USDJPY from our mentioned resistance levels.

http://farm8.staticflickr.com/7143/6...8a0b2be3c8.jpg

R1: 78.122| R2: 78.466| R3: 78.766| R4:79.066| R5: 79.366
S1: 77.434| S2:77.090| S3: 76.790| S4: 76.490| S5: 76.190

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