Daily Technical Analysis by FXCC 23Dec11

Daily Technical Analysis by FXCC 23Dec11


Euro vs US Dollar We believe that possible bearishness could be seen during this trading session.
Immediate resistance is at (1.32074). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
Try to sell on rallies with a stop loss above (1.32074).

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R1: 1.31063| R2: 1.31607| R3: 1.32088| R4: 1.32666| R5: 1.33113
S1: 1.30038| S2: 1.29591| S3: 1.29013| S4: 1.28566| S5: 1.28166



Great Britian Pound vs US Dollar We believe that possible bullishness could be seen during this trading session.
Support is at (1.54830). Break below that area could lead us to neutral zone as direction would become unclear, but as long as price moves above that level the major scenario remains bullish.
Look for long positions for today`s trading session.

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R1: 1.57642| R2: 1.58439| R3: 1.58939| R4: 1.59439| R5: 1.59939
S1: 1.56048| S2: 1.55448| S3: 1.54930| S4: 1.54083| S5: 1.53583


US Dollar vs Japanise Yen USDJPY is at a crossroads, the instrument has a 50 – 50 chance of a recovery above (78.303) or a fall towards (77.587) in the coming session. We have to wait and watch the movement of the instrument from current levels.
We need to hold for current session.

http://farm8.staticflickr.com/7168/6...5db9f16aba.jpg

R1: 78.524| R2: 78.824| R3: 79.124| R4: 79.424| R5: 79.724
S1: 77.839| S2: 77.539| S3: 77.239| S4: 76.939| S5: 76.639

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