Weekly Report (21-25 November 2011)
The short term trend is to the downside targeting 122.00 so long as 150.00 remain intact.
Previous Report| Support | 120.75 | 120.40 | 119.20 | 117.95 | 117.40 |
| Resistance | 121.70 | 122.20 | 122.60 | 123.15 | 123.90 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair with a breach below 120.75 targeting 119.15 and stop loss with four-hour closing above 121.70 may be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Weekly Report(21-25 November 2011)
Trading settled within a narrow range and below the critical support at 104.75, and that maintains the effect of the bearish technical pattern that was completed by breaching that level. Therefore, we expect continuation of the downside move this week supported by the 50 EMA and the negativity on Stochastic, where the main target is located at 100.70. Stability below 104.75 is required to for our expectations to remain valid.
The trading range for the week may be among the 99.40 support and 105.70 resistance.
The short term trend is to the downside targeting 94.80 so long as 123.30 remain intact.
Previous Report| Support | 103.15 | 102.65 | 102.10 | 101.70 | 101.00 |
| Resistance | 104.75 | 105.35 | 106.10 | 106.50 | 107.30 |
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 104.25 targeting 102.10 and stop loss with four-hour closing above 104.75 may be appropriate | ||||
Euro vs. Great British Pound (EUR / GBP)
Weekly Report(21-25 November 2011)
The pair maintains stability within the yellow shaded range bound as shown above, while it's attempting to move away from the support of the range . Therefore, more upside attempts is likely this week, mentioning that we should monitor the pair carefully around the sensitive resistance at 0.8675 and 0.8770, as breaching this area will result in further incline and may hint that the pair settled for the latest downside correction toward the 76.4% Fibonacci correction.
The trading range for the week may be among the 0.8415 support and 0.8720 resistance.
The short term trend is to the upside targeting 1.0370 so long as 0.8165 remain intact
Previous Report| Support | 0.8525 | 0.8460 | 0.8415 | 0.8385 | 0.8300 |
| Resistance | 0.8595 | 0.8630 | 0.8675 | 0.8720 | 0.8770 |
| Recommendation | Based on the charts and explanations above we recommend buying the pair around 0.8525 targeting 0.8675 , stop loss with four-hour closing below 0.8460 may be appropriate. | ||||
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