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Update - Daily Technical Levels from FXCC – 5 Aug 2011

Discussion in 'Major Currency Crosses' started by amantrader2, Aug 5, 2011.

  1. amantrader2

    amantrader2 New Member

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    Update - Daily Technical Levels from FXCC – 5 Aug 2011

    EUR/USD Intraday Technical Levels:

    Pivot: 1.418
    Preference: Short positions below 1.418 with targets @ 1.41 & 1.406 in extension.
    Alternative Scenario: Above 1.418 look for further upside with 1.4235 & 1.4285 as targets.
    Comment: the pair is challenging its resistance, the RSI is mixed and calls for caution.

    USD/JPY Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT]79
    [FONT=&quot]Preference: [/FONT]Short positions below 79 with targets @ 78 & 77.5 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Above 79 look for further upside with 79.25 & 79.75 as targets.
    [FONT=&quot]Comment: [/FONT]the pair is on the downside and should reach its next support as the RSI is badly directed.

    GBP/USD Intraday Technical Levels:

    [FONT=&quot]Pivot: [/FONT]1.6325
    [FONT=&quot]Preference: [/FONT]Short positions below 1.6325 with targets @ 1.6225 & 1.619 in extension.
    [FONT=&quot]Alternative Scenario: [/FONT] Above 1.6325 look for further upside with 1.6375 & 1.64 as targets.
    [FONT=&quot]Comment: [/FONT]the pair is posting a rebound but stands below its resistance.

    Daily Technical Levels from fxcc.com
    Source: FX Central Clearing
     
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