Today's Market Outlook

Daily Forex Technicals | Written by Windsor Brokers Ltd | Dec 18 08 11:07 GMT |

EURUSD Continues soar, en-route to psychological 1.5 level. Today's rally has dented key 1.4715, 200 day moving average, break of which will open way for test of 1.4864/1.4908, 22 Sep/22 Aug peaks, ahead of final push to/through 1.5000. Studies are currently over-extended, warning of possible pullback, before fresh bulls. Downside, 1.4346/1.4300 area offers support and only loss there to delay immediate bulls. Res: 1.4718, 1.4740, 1.4769, 1.4800 Sup: 1.4432, 1.4400, 1.4346, 1.4300 GBPUSD Extended recovery off 1.4468, with clearance of 1.5532, key near-term resistance, triggering fresh gains to 1.5720 yesterday, ahead of pullback to 1.5243. Fresh bulls need to sustain above 1.5243/00, as higher low above there required to resume recovery. Res: 1.5615, 1.5650, 1.5780, 1.5833 Sup: 1.5202, 1.5173, 1.5120, 1.5065 USDJPY Continues to trend lower, after leaving a lower top at 91.56, with clearance of 88.12, opening fresh weakness to 87.16 today. Correction higher now underway, with lower top required below 89.42/56, to maintain immediate bears. Below 87.16 would focus 79.75 next. Res: 89.56, 89.72, 90.00, 90.18 Sup: 87.50, 87.16, 86.87, 86.02 USDCHF Remain in a steep downtrend, with today's lower top at 1.0764 confirming bears and capping corrective attempts, as the market now looks for 1.0316, 25 July low test. Only above 1.0764 to delay bears and allow stronger correction. Res: 1.0700, 1.0764, 1.0800, 1.0888 Sup: 1.0403, 1.0357, 1.0335, 1.0316 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.