TECHNICAL ANALYSIS MAJORS REPORT


TREND EURO, US DOLLAR, YEN, BRITISH POUND SPOT PRICE


16/09/2011


EURUSD USDJPY EURJPY EURGBP


EURO/GBP


The cross euro/gbp was first traded in January 1999, at around 0.7100, and fell to a historical low at 0.5683 in May 2000. From the bottom, the euro began moving upwards, entering progressively a major up- trend, and reaching a historical high at 0,9809 on January 1st, 2009 (+72.6% vs. the May 2000 low). From that peak a strong correction drew the cross down to a low at 0.8070 in June 2010. From that level a rally pushed the cross to a peak at 0.9083 on July 1st, 2011. In the last months, the cross declined


to 0.8535 and raised again towards 0.8800. The trend in the last semester has been neutral-positive, but it’s weakening. A break above 0.9000-0.9100 is necessary in order to have a new bullish signal for the coming months (not very likely), targeting 0.9410. Weakness would be triggered by a decline below 0.8600, for a test of 0.8400. Below this strong support the cross would enter a bearish trend for the months to come, targeting the key support level at 0.8065.


1.3788 76.86 105.97 0.8731


01/01/2011


1.3366 81.19 108.64 0.8575


∆%


3.2% -5.3% -2.5% 1.8%


1.4331 93.14 133.22 0.8858


01/01/2010 ∆%


-3.8% -17.5% -20.5% -1.4%


FX


TREND


Trend 3-6 months Trend 6-12 months Trend 12-18 months


side/down up/side side


S1 S2 S3


SUPPORTS


0.8600 0.8400 0.8285


SPOT PRICE 0.8731


R3 R2 R1


RESISTANCES 0.9500++ 0.9410+


0.9000-0.9100 FX TRADER MAGAZINE October - December 2011 69


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