FX Forex Market Technical Analysis:

Forex Trading Technical Analysis for the 29. Dec. 2011

Technical Analysis for the following Currencies:

EUR/USD, USD /CAD, USD/JPY, AUD/USD, GBP/USD, EUR/JPY, EUR/CHF

All Data are  5:30 am + 1 GMT

EUR / USD intraday: under pressure.
Turning point (devaluation level): 1.3015
We prefer: net long positions in 1301, with price targets to 1.29 & 1286.
Alternative scenario: above 1.3015, we expect further upside movement with 1305 & 1308 as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

USD / CAD in the course of the day: bullish trend to 1.02.
Turning point (devaluation level): 1.02
We prefer: long positions with advanced course aims to 1.02 to 1.03 and 1.0335.
Alternative scenario: at 1:02, we expect further downward movements with 1017 & 1012 as price targets.
Technical Analysis Comment: the fraction to 1.02 represents a positive signal that a path has opened up to 1.03.

USD / JPY intraday: under pressure.
Turning point (devaluation level): 78
We prefer: sales positions at 77.95 with price targets at 77.65 and 77.5.
Alternative scenario: above 78, we expect further upside with 78.1 & 78.2 movements as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

AUD / USD intraday: the downward movement will prevail.
Turning point (devaluation level): 1.0135
We prefer: sales positions at 1.0135 with targets at 1.0045 and advanced course first
Alternative scenario: above 1.0135, we expect further upside with 1.0175 & 1:02 movements as price targets.
Technical Analysis Comment: the fracture under 1.0135 represents a negative signal, which has opened a way to 1.0045.

GBP / USD intraday: under pressure.
Turning point (devaluation level): 1.5545
We prefer: net long positions in 1554, with price targets at 1.5425 and 1.5405.
Alternative scenario: above 1.5545, we expect further upside with 1.5575 & 1:56 movements as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

EUR / JPY intraday: the downward movement will prevail.
Turning point (devaluation level): 101
We prefer: Sales positions with less than 101 advanced course aims to 100.1 & 99.8.
Alternative scenario: over 101, we expect further upside with 101.6 & 102 movements as price targets.
Technical Analysis Comment: the RSI is badly directed.

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