Update Daily Technical Levels from FXCC 08 Sep 2011

Update Daily Technical Levels from FXCC 08 Sep 2011

EUR/USD
Intraday Technical Levels:

Pivot: 1.411
Preference: Short positions below 1.411 with targets @ 1.401 & 1.3975 in extension.
Alternative Scenario: Above 1.411 look for further upside with 1.415 & 1.42 as targets.
Comment: the pair is capped by a declining trend line and is shaping a triangle pattern.

USD/JPY
Intraday Technical Levels:

Pivot: 77.5
Preference: Short positions below 77.5 with targets @ 77.05 & 76.8 in extension.
Alternative Scenario: Above 77.5 look for further upside with 77.7 & 77.85 as targets.
Comment: the pair is under pressure and is approaching its support.

GBP/USD
Intraday Technical Levels:

Pivot: 1.6055
Preference: Short positions below 1.6055 with targets @ 1.595 & 1.5915 in extension.
Alternative Scenario: Above 1.6055 look for further upside with 1.61 & 1.614 as targets.
Comment: the pair is posting a rebound but remains capped by a declining trend line.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com