FX TECHNICAL ANALYSIS MAJORS REPORT
TREND EURO, US DOLLAR, YEN, BRITISH POUND SPOT PRICE 17/06/2011
01/01/2011
EURUSD USDJPY EURJPY EURGBP
EURO/GBP
The cross euro/gbp was first traded in January 1999, at around 0.7100, and fell to a his torical low at 0.5683 in May 2000. From the bottom, the euro beg an moving upwards, enter ing prog ressively a major up - t rend, and reaching a his torical high at 0,9809 on January 1st, 2009 (+72.6% vs. the May 2000 low). From that peak a s trong cor re ction drew the cross down to a low at 0.8070 in June 2010. From
that level a ra lly pushed the cross, in the la s t months,
in the 0.9000-0.9040 area .
A break above 0.9160 would signal a prosecution of the ra lly in the coming months, targ eting 0.9300, with extensions towards the key resistance at 0.9500. Loss of momentum below 0.8600 and new weakness below 0.8400, for a test of 0.8285. A break of this support (premature) would provide a bearish signal for the months to come.
1.4289 80.19
114.54 0.8837
1.3366 81.19 108.64 0.8575
∆%
6.9% -1.2% 5.4% 3.1%
1.4331 93.14 133.22 0.8858
01/01/2010 ∆%
-0.3% -13.9% -14.0% -0.2%
TREND
Trend 3-6 months Trend 6-12 months Trend 12-18 months
up/side S1 side side
S2 S3
72 FX TRADER MAGAZINE July - September 2011
SUPPORTS
0.8600 0.8400
0.8285+
SPOT PRICE 0.8837
R3 R2 R1
RESISTANCES 0.9500++ 0.9300+ 0.9160
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