Daily Technical Outlook

Daily Forex Technicals | Written by Innerfx | Nov 30 09 07:47 GMT |

EURUSD The euro opened higher today and climbed higher during the Asian session, recovering most of Thursday's and Friday's losses which were quite high (to as low as 1.4828) due to lower liquidity. Now that the upside is back in focus, a re-test of 1.5150 is likely. On an intra-day basis, uptrend will remain intact as long as support into the 1.4990/00 region holds. Current exchange rate is 1.5062 @07:35 GMT Support: 1.4990/00, 1.4900, 1.4820/50 Resistance: 1.5100, 1.5145/50 and 1.5200 NZDUSD The NZD has has found support at .7080 which has been a stable bottom in October. However, the break down below the rising trend line coming around .7270 today is a notable bearish sign. Look for a potential test from the downside within the coming trading sessions and as long as it provides resistance, renewed selling may favor further downside action. On a short-term basis, I remain bullish on this pair. Current exchange rate is .7195 @07:35 GMT Support: .7100, .7080, .7000/30 Resistance: .7200, .7250/70 and .7300 GBPUSD Cable recovered and the 1.6600 handle is under pressure at the time of writing this. However, a sustained break above 1.6700 is needed to fully confirm uptrend resumption. Short term sentiment is neutral while the intra-day studies are bullish and will remain positive while 1.6450/60 will provide support. Current exchange rate is 1.6567 @07:35 GMT Support: 1.6450/60, 1.6350 and 1.6275 Resistance: 1.6600, 1.6700 and 1.6840/50 Innerfx Legal disclaimer and risk disclosure InnerFX and/or its author(s) shall not be responsible for any loss arising from any investment or trading decision based on any recommendation, forecast, strategy or other information herein contained. The contents of this article should not be construed as an express or implied promise, guarantee or implication by InnerFX and/or its author(s) that readers and subscribers will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations / strategy in an analysis, especially leveraged investments such as Foreign Exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated. Trading in the Currency Exchange market is a challenging opportunity where above average returns are available to educated and experienced investors who are willing to take above average risk. Past performance does not guarantee similar performance in the future. Check http://www.innerfx.com/disclaimer for full disclaimer. You may not post this (or part of this) article to forums, newsgroups, mailing lists, electronic bulletin boards, websites, or other services, without the prior written consent of InnerFX.