FX Forex Market Technical Analysis:

Forex Trading Technical Analysis for the 27. 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): 1.31
We prefer: net long positions in 1309, with price targets for 1302 & 1298.
Alternative scenario: to 1.31, we expect further upside movement with 1313 & 1.3195 as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

USD / CAD in the course of the day: capped by a negative trend line.
Turning point (devaluation level): 1.0225
We prefer: sales positions at 1.0225 with advanced course aims to 1,015 & 1.01.
Alternative scenario: above 1.0225, we expect further upside movement with 1026 & 1:03 as price targets.
Technical Analysis Comment: as long as 1.0225 resistance remains is a likely decline in 1015.

USD / JPY intraday: under pressure.
Turning point (devaluation level): 78.1
We prefer: sales positions at 78.05 with price targets on 77.8 & 77.65.
Alternative scenario: above 78.1, we expect further upside with 78.2 & 78.3 movements as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

AUD / USD intraday: for support during the day around 1012.
Turning point (devaluation level): 1,012
We prefer: long positions over 1012 with extended price targets on 1022 & 1.0265.
Alternative scenario: in 1012 we expect further downward movements with 1.0085 & 1.0055 as price targets.
Technical Analysis Comment: although a continuation of the consolidation can not be excluded, should be limited in its extent.

GBP / USD intraday: under pressure.
Turning point (devaluation level): 1.566
We prefer: net long positions in 1565, with price targets at 1.5575 and 1.5545.
Alternative scenario: above 1566 we expect further upside with 1.5705 & 1.5725 movements as price targets.
Technical Analysis Comment: the RSI is mixed to bearish.

EUR / JPY during the day: for support during the day around 101.7.
Turning point (devaluation level): 101.7
We prefer: long positions on 101.7 with advanced course aims to 102.3 & 102.55.
Alternative scenario: at 101.7, we expect further downward movements with 101.3 & 101 as price targets.
Technical Analysis Comment: the RSI is mixed with a bullish trend.

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