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The European currency dropped
By: Crown Forex - 20-12-2007
0votesEURO
The European currency dropped yesterday massively as it passed the key support area at 1.4400s, which took the currency down to hit the major support level at 1.4320s. However the euro reversed back in the last session to the upside regaining some losses. The technical form has adjusted to show the downside target at 1.4260s.The trading range for today might be between the key resistance level at 1.4440 and the key support level at 1.4200.
The general trend is up as far as 1. 3860 remains intact targets now at 1.4760 and 1.4930
Support 1.4365 1.4343 1.4318 1.4294 1.4270 Resistance 1.4380 1.4403 1.4425 1.4450 1.4475 Recommendation
We expect selling Euro below 1.4400 with a target at 1.4270 stop loss above 1.4450. GBP
The British pound yesterday was trading with tendency towards the downside after the pound breached the important support area at 2.0100. However it was able to reverse back in the last session but the pound is still drawing the bearish map in terms of a correction move.The trading range for today might be between the key resistance level at 2.0200 and the key support level at 1.9800.
The general trend is up as far as 1.9800 remains intact targets now at 2.0940 and 2.1050
Support 1.9988 1.9961 1.9930 1.9916 1.9890 Resistance 2.0020 2.0044 2.0067 2.0089 2.0126 Recommendation
We expect selling sterling below 2.0010 with a target at 1.9900 stop loss above 2.0070. JPY
The dollar against the Japanese yen yesterday moved to the upside target at the important resistance level at 113.50s. However it dropped in a strong move towards the key support area at 112.60s during the morning session. As a result, today the pair might move in the upside direction.The trading range for today will be between the key resistance at 115.00 and the key support at 112. 50.
The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.
Support 113.37 113.04 112.82 112.56 112.34 Resistance 113.56 113.85 114.05 114.27 114.48 Recommendation
... CHF
The dollar against the SWISS Frank yesterday fluctuated in the upside but it managed to end the trading with tendency to the downside to reflect the weakness in the upside movements. Nevertheless, the pair could slightly move in the upside direction today as the technical indicators showed.The trading range for today will be between the key resistances at 1.1680 the key support at 1.1450.
The general trend is down as far as 1.2020 remains intact, targets at 1.1445 and 1.1230.
Support 1.1535 1.1506 1.1487 1.1469 1.1445 Resistance 1.1585 1.1616 1.1636 1.1658 1.1680 Recommendation
We expect buying USD/CHF above 1.1537 with a target at 1.1615, stop loss below 1.1490. CAD
The dollar against the Canadian yesterday tended to move in a bearish move despite heading higher in the first session in the morning. In the meantime today, and since the pair toughed the key support at 1.0020s, it might keep the flow to the downside again as long as it couldn't breach the major resistance at 1.0120s.The trading range for today will be between the key resistance at 1.0180 and the key support at 0.9930.
The general trend is down as far as 1.0450 remains intact, targets will be 0.9000 at and 0.8880.
Support 1.0009 0.9983 0.9957 0.9932 0.9913 Resistance 1.0040 1.0070 1.0095 1.0118 1.0146 Recommendation
We expect selling USD/CAD below 1.0065 with a target at 0.9945, stop loss above 1.0100.
Next Analysis: The pound declined massively against all majorsContent Provided by:
Crown Forex
CROWN FOREX SA, located at St-Hubert 38, 2854 Bassecourt, P.o.box 247, Switzerland, is fully regulated as a financial intermediary under Swiss federal law on the prevention of money laundering (LBA, MLA). Our company is also affiliated with the ARIF association, thus overseen by the Swiss federal de
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
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