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Technical Cross
Written by article default Friday, 04 November 2011 12:12
Midday Report
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The pair touched the awaited 125.10 level and reversed to the downside slightly, thus, our morning scenario is activated and remains valid so long as daily closing remain below 125.10.
The trading range for the day may be among the 122.00 support and 127.00 resistance.
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
| Support | 124.55 | 123.95 | 123.15 | 122.60 | 122.00 |
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| Resistance | 125.00 | 125.65 | 126.00 | 126.55 | 127.00 |
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| Recommendation | Our morning expectations remain valid. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
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The pair tested the awaited level at 107.65 and started to incline as shown on image, accordingly, our morning scenario is activated, while we need the pair to settle above the aforementioned support to ensure not delaying acquiring the awaited targets.
The trading range for the day may be among the 105.50 support and 109.60 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
| Support | 107.65 | 106.95 | 106.35 | 106.15 | 105.50 |
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| Resistance | 108.00 | 108.80 | 109.00 | 109.60 | 110.55 |
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| Recommendation | Our morning expectations remain valid. | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
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The pair is trading with clear positivity touching earlier today the sensitive retest level at 0.8650. in general, we still need more confirmations regarding the next move, thus we will remain neutral and monitor the daily closing round 0.8650 and 0.8525 levels.
The trading range for the day may be among the 0.8525 support and 0.8720 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact
| Support | 0.8590 | 0.8525 | 0.8500 | 0.8460 | 0.8415 |
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| Resistance | 0.8650 | 0.8685 | 0.8720 | 0.8805 | 0.8845 |
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| Recommendation | Based on the charts and explanations above we recommend staying aside awaiting more confirmations for the next move. | ||||