Daily Technical Analysis by FXCC 05Jan12

Daily Technical Analysis by FXCC 05Jan12

Euro vs US Dollar We may see the instrument move in the range of (1.30828 – 1.28877) in today`s trading session.
We need to see a close above (1.30828) or below (1.28877).
You may try to buy from lower border and/or sell from upper border.

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R1: 1.29985| R2: 1.30422| R3: 1.30829| R4: 1.31466| R5: 1.32204
S1: 1.28977| S2: 1.27964| S3: 1.26951| S4: 1.26213| S5: 1.25813

Great Britian Pound vs US Dollar Overall the direction remains unclear and price is moving in (1.56786 - 1.55698) range area, the instrument has a 50 – 50 chance of a recovery above (1.56786) or a fall towards (1.55698) in the coming session.
We should wait for a clearer outlook on GBPUSD.

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R1: 1.56686| R2: 1.57526| R3: 1.58414| R4: 1.58914| R5:1.59414
S1: 1.55485| S2: 1.54922| S3: 1.54275| S4: 1.53617| S5: 1.53117


US Dollar vs Japanise Yen We believe that possible bearishness could be seen during this trading session.
Immediate resistance is at (76.931). Close above that area could lead us to neutral zone as direction would become unclear, but as long as price moves below that level the major scenario remains bearish.
Look for short positions for today`s trading session.

http://farm8.staticflickr.com/7143/6...f28780c791.jpg

R1: 77.050| R2: 77.562| R3: 77.868| R4: 78.168| R5: 78.468
S1: 76.378| S2: 76.078| S3: 75.778| S4: 75.478| S5: 75.178


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