FX TECHNICAL ANALYSIS MAJORS REPORT
TREND EURO, US DOLLAR, YEN, BRITISH POUND SPOT PRICE
21/12/2011
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 that 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 5 months the selling pressure has prevailed, and
the cross recently has fallen below 0.8500 (low at 0.8339 on December 21st). As long as the cross remains below 0.8600-0.8700 the outlook remains very weak, with possible new falls towards the strong support at 0.8280 and then, in the coming months, to test the key support at 0.8065. A first positive signal for the next weeks would be provided by a break above 0.8850 but only above the key resistance area 0.9000-0.9100 (unlikely) a bullish signal would be triggered for the coming months.
1.3103 77.85 102.01 0.8338
01/01/2011
1.3366 81.19 108.64 0.8575
∆%
-2.0% -4.1% -6.1% -2.8%
1.4331 93.14 133.22 0.8858
01/01/2010 ∆%
-8.6% -16.4% -23.4% -5.9%
TREND
Trend 3-6 months Trend 6-12 months Trend 12-18 months
down
side/down side/down
S1 S2 S3
86 FX TRADER MAGAZINE January - March 2012
SUPPORTS 0.8280
0.8065++ 0.8000
0.8338
SPOT PRICE
R3 R2 R1
RESISTANCES
0.9000-0.9100++ 0.8850+ 0.8650
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97