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Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Tuesday February 14 , 2012 06:03 GMT
Technical Cross
Great British Pound vs. Japanese Yen (GBP / JPY)


Morning Report

 gbpjpy14_02_2012

The pair declined sharply today, but it returned to recover some of the losses incurred, where the pair trades now above 122.25 again. SMA 50 prevented the bearishness from extending further, while Stochastic is positive over 4-hour basis. Therefore, we suggest an intraday upside move today, targeting mainly 123.80 and then 124.80, while consolidation above 121.70 and 121.35 is required for our expectations to prevail. A breach of 121.70 could activate a bearish technical structure, which will be explained if the breach was seen.

The trading range for today is among the major support at 121.35 and the major resistance at 124.80.

The short-term trend is to the downside as far as 150.00 remains intact targeting 112.00.

Previous Report



Support122.25121.70121.35120.60120.35

Resistance122.60123.00123.80124.25124.80

RecommendationBased on the charts and explanations above, our opinion is buying the pair around 122.25, targeting 123.80 and then 124.80 and stop loss with 4-hour closing below 121.35 might be appropriate


Euro vs. Japanese Yen (EUR / JPY)


Morning Report

eurjpy14_02_2012 

The pair declined sharply reaching the strong support provided by the SMA 50 at 101.80, where we notice that the pair rebounded to the upside significantly supported by the positivity seen on Stochastic. In general, we suggest an intraday upside move inside the ascending correctional channel shown above, noting that a breach of 101.80 could weaken our suggested scenario, which targets 103.80 and then 104.80.

The trading range for today is among the major support at 101.00 and the major resistance at 104.80.

The short-term trend is to the downside as far as 123.30 remains intact, targeting 94.80.

Previous Report



Support102.00101.40100.80100.1599.25

Resistance103.35103.80104.25104.75105.15

RecommendationBased on the chart and explanations above, our opinion is buying the pair around 102.00, and taking profit at 103.80 and 104.80 and stop loss below 101.40 might be appropriate


Euro vs. Great British Pound (EUR / GBP)


Morning Report

eurgbp14_02_2012 

The pair is still fluctuating within a sideway range, where the pair's movement is still limited between the support level at 0.8310, which represents the retest level of the previously breached resistance of the descending channel shown above, and the resistance level at 0.8420, which represents the retest level of the previously breached general upside trend. Therefore, we need to observe the pair's behavior around these levels, which could determine the next move. Stochastic and SMA 50 are positive, which suggests an intraday upside move.

The trading range for today is among the major support at 0.8170 and the major resistance at 0.8550.

The short-term trend is to the upside as far as 0.8170 remains intact, targeting 1.0370.

Previous Report



Support0.83550.83100.82550.82000.8170

Resistance0.84200.84400.84800.85500.8605

RecommendationBased on the chart and explanations above, our opinion is buying the pair with 4-hour closing above 0.8420, targeting 0.8550 and then 0.8660 and stop loss with 4-hour closing below 0.8310 might be appropriate. Or selling the pair with 4-hour closing below 0.8310, and taking profit at 0.8170 and then 0.8100 and stop loss above 0.8420 might be appropriate.


 
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