Daily Technical Analysis by FXCC 29Dec11

Daily Technical Analysis by FXCC 29Dec11

Euro vs. US Dollar (EURUSD): EURUSD maintains a bid tone for now.
Break above (1.30902) may trigger further recovery of the EURUSD. Going bellow latest swing low at (1.28745), however, would confirm continuation of the bearish trend, towards next objective downwards (1.26403). Look for short positions for today`s trading session.

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R1: 1.29827| R2: 1.30259| R3: 1.30779| R4: 1.31458| R5: 1.31974
S1: 1.28745| S2: 1.28088| S3: 1.27060| S4: 1.26403| S5: 1.26003
 
Great Britain Pound vs. US Dollar (GBPUSD): We see better value in short positions.
If the price will go below the first support at (1.53673), this would confirm continuation of the bearish trend, towards next objective downwards (1.52789) then (1.51166) and (1.50282) will follow. Look for short positions for current trading session.

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R1: 1.55296| R2: 1.55801| R3: 1.56502| R4: 1.57002| R5: 1.57739
S1: 1.53673| S2: 1.52789| S3: 1.51166| S4: 1.50282| S5: 1.49782
 

US Dollar vs. Japanese Yen USDJPY (USDJPY): We see high chances of the pair move in a range between (78.138 – 77.462). A proper move above (78.138) confirms a probable rally towards (79.383). However, if USDJPY manage to close below (77.462) will support a call for bid tone.
We need to hold for current session.

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R1: 78.223| R2: 78.607| R3: 79.083| R4: 79.383| R5: 79.683
S1: 77.562| S2: 77.179| S3: 76.879| S4: 76.579| S5: 76.279

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