Today's Market Outlook

Daily Forex Technicals | Written by Windsor Brokers Ltd | Dec 09 08 14:00 GMT |

EURUSD Upper rejection at 1.2966, just under 7 week triangle resistance, turns focus lower. Loss of 1.2840/20 completes head and shoulders top, signaling a fresh phase lower and exposing 1.2627 next. Res: 1.2890, 1.2967, 1.3028, 1.3080 Sup: 1.2800, 1.2785, 1.2740, 1.2716 GBPUSD Extends the pullback off 1.5046, yesterday's peak, with lower top left at 1.4956. The latest break under 1.4780 has seen extension to 1.4737 so far. Further correction may try at 1.4710/1.4690, before possible attempt higher, while loss of 1.4660 delays. Res: 1.4956, 1.5010, 1.5050, 1.5070 Sup: 1.4737, 1.4710, 1.4690, 1.4560 USDJPY Extended decline from 97.44, 25 Nov high, to 91.58 on 05 Dec, before correcting higher. A lower top at 93.91 now likely caps for fresh downside extension to 91.58, ahead of 90.87. Res: 93.20, 93.52, 93.90, 94.25 Sup: 92.05, 91.58, 91.35, 90.87 USDCHF Firmed off 1.1925, 04 Dec low, to complete a 2-week bull flag last Friday, with 1.2251 seen so far. Strong reversal to 1.2019 followed, ahead of current attempt higher that reached 1.2177 so far. Further upside will target 1.2298, with extension to 1.2500/1.2600 area not ruled out. 1.2087 offers initial support, ahead of 1.2019, break of which sidelines bulls. Res: 1.2206, 1.2250, 1.2298, 1.2334 Sup: 1.2115, 1.2087, 1.2035, 1.2019 Windsor Brokers Ltd http://www.windsorbrokers.biz The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.