Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Monday August 23 , 2010 10:08 GMT
Technical Cross
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Great British Pound vs. Japanese Yen (GBP / JPY)


Midday Report

 

In accordance with the scenario that was discussed in the weekly report, the pair is presently relieving Stochastic indicator but it still supported as well from 132.50-132.25. AROON down is stable and didn't show a sign of reversal. Therefore, we keep our positive outlook unchanged for the rest of the day.

The trading range for today is among key support at 130.50 and key resistance at 135.50.

The general trend over short term basis is to the downside, targeting 118.80 as far as areas of 150.75 areas remain intact.

Weekly Report



Support132.25131.65131.00130.50130.00

Resistance133.15133.60134.25134.80135.50

RecommendationOur weekly expectations remain valid.


Euro vs. Japanese Yen (EUR / JPY)


Midday Report

 

The EUR/JPY is moving within a very narrow range but features of positive divergence started to appear on the four-hour chart. The current levels represent the combination of Fibonacci 127.2% of XA and 261.8% of BC. That is why we think the aforesaid levels will provide the pair with solid support. Consequently, we hold onto our positive speculations for the rest of the day.

The trading range for today is among key support at 107.00 and key resistance now at 110.50.

The general trend over short term basis is to the downside, targeting 97.90 as far as areas of 132.50 remain intact.

Weekly Report



Support108.00107.60107.25106.85106.50

Resistance109.00109.50110.00110.50110.80

RecommendationOur weekly expectations remain valid.


Euro vs. Great British Pound (EUR / GBP)


Midday Report

 

From 127 % of BC leg exactly, the royal pair inclined steadily during the previous session, while Stochastic showed a bullish crossover. Our captured bullish harmonic butterfly is still in favor for the rest of the day and we hold onto our positive anticipations.

The trading range for today is among the key support at 0.8060 and key resistance now at 0.8255.

The general trend over short term basis is to the downside, targeting 0.7780 as far as areas of 0.8965 remain intact.

Weekly Report



Support0.81400.81050.80850.80600.8025

Resistance0.81800.82050.82350.82550.8295

RecommendationOur weekly expectations remain valid.


 
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