Today's Market Outlook

Daily Forex Technicals | Written by Windsor Brokers Ltd | Dec 12 08 08:37 GMT |

EURUSD Soared through key 1.3295 resistance to hit fresh highs above 1.3400, ahead of current correction. 1.3225/15 now offers initial support, with higher low sought for fresh attempt higher, targeting 1.3430/68. Downside, 1.3080 underpins the advance and only below there to allow stronger correction. Res: 1.3406, 1.3430, 1.3468, 1.3531 Sup: 1.3220, 1.3195, 1.3160, 1.3080 GBPUSD Recovery from 1.4468, 04 Dec yearly low, has cleared 1.5046/70, 08/02 Dec previous highs, to extend gains to 1.5118, just ahead targeted level at 1.5125, 61.8% retracement of 1.5532/1.4468 downleg. Correction is now underway, with 1.4885/55 expected to contain, ahead of fresh bulls towards 1.5173/1.5260. Res: 1.5125, 1.5150, 1.5173, 1.5206 Sup: 1.4855, 1.4820, 1.4772, 1.4750 USDJPY Accelerated decline after breaking below 90.87, 24 Oct key pivotal low and 90.00, psychological level. Bears extended to 88.14 so far, with break below 88.00 to open 86.02/85.50 next. Resistance zone at 90.87/91.16 caps for now. Res: 91.05, 91.36, 91.58, 92.02 Sup: 88.59, 88.10, 87.83, 86.87 USDCHF Continues to retrace 1.1201/1.2296 advance, with the recent break below 1.1830, 25 Nov key low, extending losses to 1.1775 so far, ahead of correction. Immediate risk is seen towards 1.1765/48, trendline support/50% retracement of 1.1201/1.2296, break of which will open 1.1680/20 next. Only regain of 1.2000 would ease current bear pressure. Res: 1.1872, 1.1925, 1.1956, 1.2000 Sup: 1.1775, 1.1765, 1.1748, 1.1720 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.