| Daily Forex Technicals | Written by Crown Forex | Nov 26 08 08:18 GMT | | |
| EUR/JPY The pair declined yesterday yet remained above 122.44 which is affected by mixed signals from momentum indicators, the 121.42 levels are still the major level over the medium term and breaching it will send the pair back towards 118.52.
Resistance: 123.47, 123.97, 124.50, 125.00, 125.48 GBP/JPY The pair tried to breach the support area at 144.88-143.90 yet failed to resume closing above and above the medium term downside channel's upper band; the downside tendency is affected by signals from momentum indicators that offer a selling opportunity and might once again fail at the mentioned support areas.
Support: 144.88, 143.90, 143.12, 142.47, 141.80 The euro declined heavily against the pound yesterday to breach the 0.8433 support level which is the 23.6% correction level which resides with the medium term upside trend line shown above, yet still the pair failed to close below this level and today the pair is fluctuation around this level and might witness high volatility amid mixed signals from momentum indicators.
Support: 0.8433, 0.8412, 0.8396, 0.8377, 0.8355 disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk. | |
Wednesday, November 26, 2008
Technical Analysis for Crosses
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