Daily Technical Analysis by FXCC October 14 2011

Daily Technical Analysis by FXCC October 14 2011

Euro vs. US Dollar (EURUSD):We can say that additional bullish movements could be seen during current session, particularly if it succeeded to stabilize above (1.36751) zones. A proper confirmation would occur if the EURUSD will manage to overcome the (1.38261) resistance. We will try to buy EURUSD from our mentioned support levels.

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R1: 1.38261| R2: 1.39030 | R3: 1.39799 | R4: 1.40440 | R5: 1.41209
S1: 1.36982 | S2: 1.36210 | S3: 1.35654 | S4: 1.35245 | S5: 1.34800
Great Britain Pound vs. US Dollar (GBPUSD):We prefer upside scenario at this phase.Since bias is bullish in nearest term targeting (1.60469). Another move back below (1.56557) could lead us to neutral zone.You may try to buy from (1.56896), (1.56243), and (1.55705) with a stop loss below (1.56557).

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R1: 1.58563| R2: 1.59278 | R3: 1.60469 | R4: 1.60969 | R5: 1.61469
S1: 1.56896| S2: 1.56243 | S3: 1.55705 | S4: 1.54990 | S5: 1.53950

US Dollar vs. Japanese Yen USDJPY (USDJPY):We can say that additional bullish movements could be seen during current session, particularly if it succeeded to stabilize above (76.574) zones. A proper confirmation would occur if the USDJPY will manage to overcome the (77.215) resistance. You may try to buy from (76.562), (75.983), and (75.683) with a stop loss below (76.574).

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R1: 77.215 | R2: 77.560 | R3: 78.176 | R4: 78.476 | R5: 78.776
S1: 76.562 | S2: 75.983 | S3: 75.683 | S4: 75.383 | S5: 75.083

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