Daily Technical Analysis by FXCC December 06

Daily Technical Analysis by FXCC December 06


Euro vs US Dollar The EURUSD still trapped in range area of (1.34966– 1.33530). A break in either direction will determine the trading bias in today`s session. Break below (1.33530) could trigger further bearish pressure targeting (1.31969), while break above (1.34966) could trigger further bullish advances testing (1.35780).
We do not see any trading opportunities on the current market condition.

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R1: 1.34429 | R2: 1.34866 | R3: 1.35323 | R4: 1.35780 | R5: 1.36441
S1: 1.33544 | S2: 1.33087 | S3: 1.32590 | S4: 1.31969 | S5: 1.31569

Great Britian Pound vs US Dollar The GBPUSD bias is neutral. Upper barrier is at (1.57276), break above that area could trigger further short term upside pressure testing (1.57799). On the downside, the important price level at (1.55665) may be tested or broken in the coming sessions, which may pull the pair towards (1.54690 – 1.53847).
We need to hold for current session.

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R1: 1.57153 | R2: 1.57799 | R3: 1.58480 | R4: 1.59155 | R5: 1.59807
S1: 1.55826 | S2: 1.55259 | S3: 1.54690 | S4: 1.53847 | S5: 1.53347


US Dollar vs Japanise Yen Strength in USDJPY is likely to continue.
We see a less chances of an immediate fall on the instrument for short-term technical outlook.
Next upside barriers follow (78.110) at (78.467) and (78.886).
Long positions are favored for today.

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R1: 78.110 | R2: 78.467 | R3: 78.886 | R4: 79.186 | R5: 79.486
S1: 77.451 | S2: 77.032 | S3: 76.732 | S4: 76.432 | S5: 76.132


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