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Technical Cross
Written by article default Monday, 26 December 2011 09:23
Midday Report
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The pair is fluctuating within a narrow range since morning, maintaining stability above 122.25; accordingly, our morning scenario is activated and remains valid for the rest of the day.
The trading range for today is expected among the key support at 119.30 and the key resistance at 124.25.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 122.25 | 121.80 | 121.25 | 121.00 | 120.00 |
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| Resistance | 122.60 | 123.15 | 123.80 | 124.30 | 124.95 |
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| Recommendation | Our morning expectations remain valid | ||||
Euro vs. Japanese Yen (EUR / JPY)
Midday Report
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Trading continues within a tight range, and among the ascending channel shown above. Accordingly, our morning expectations remain valid for the rest of the day.
The trading range for today is expected among the key support at 100.00 and the key resistance at 103.00.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 101.45 | 100.75 | 100.00 | 99.40 | 98.50 |
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| Resistance | 102.40 | 103.00 | 103.80 | 104.25 | 104.75 |
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| Recommendation | Based on the charts and explanations above we recommend selling the pair with a breach below 101.45 targeting 100.00 ,stop loss with four-hour closing above 102.40 may be appropriate | ||||
Euro vs. Great British Pound (EUR / GBP)
Midday Report
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Trading remains stuck among 0.8310 and 0.8385 levels we mentioned in our morning report. Our morning expectations remain unchanged awaiting a breach of the aforementioned levels.
The trading range for today is expected among the key support at 0.8200 and th.e key resistance at 0.8480.
The short term trend is to the upside as far as 0.8165 remains intact with targets at 1.0370.
| Support | 0.8310 | 0.8250 | 0.8200 | 0.8170 | 0.8100 |
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| Resistance | 0.8385 | 0.8440 | 0.8480 | 0.8550 | 0.8605 |
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| Recommendation | Based on the charts and explanations above we recommend selling the pair with four-hour closing below 0.8310 targeting 0.8200 ,stop loss with four-hour closing above 0.8385 may be appropriate | ||||
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