Daily Technical Analysis by FXCC 26Dec11

Daily Technical Analysis by FXCC 26Dec11

Euro vs US Dollar We see better value in short positions.
If the price will go below the first support at (1.29883), this would confirm continuation of the bearish trend, towards next objective downwards (1.29440) then (1.29040) and (1.28640) will follow.
We will try to sell EURUSD from our mentioned resistance levels.

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R1: 1.30840| R2: 1.31250| R3: 1.31950| R4: 1.32350| R5: 1.32750
S1: 1.29883| S2: 1.29440| S3: 1.29040| S4: 1.28640| S5: 1.28240




Great Britian Pound vs US Dollar Overall the direction remains unclear and price is moving in (1.57839 - 1.54830) range area, the instrument has a 50 – 50 chance of a recovery above (1.57839) or a fall towards (1.54830) in the coming session.
We need to hold for current session.

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R1: 1.56657| R2: 1.57503| R3: 1.58777| R4: 1.59277| R5: 1.59777
S1: 1.54955| S2: 1.54109| S3: 1.53609| S4: 1.53109| S5: 1.52609




US Dollar vs Japanise Yen Overall the direction remains unclear. USDJPY might close below (77.901). If seen this will call for more declines to the (77.130) level. Further down, support is located at (76.830). Alternatively, above the (78.257) level it will to be traded to resume its medium term uptrend towards its important resistance at (79.596).
We prefer to wait for break of upper or lower barrier.

http://farm8.staticflickr.com/7009/6...8339d89e4d.jpg

R1: 78.396| R2: 78.696| R3: 78.996| R4: 79.296| R5: 79.596
S1: 77.730| S2: 77.430| S3: 77.130| S4: 76.830| S5: 76.530


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