Daily Technical Analysis
- EUR/USD - S-TERM Sell 1.2522 Stop 1.2610
So far with the EUR/USD there is a tendency for more weakness. But still the
long as the support at 1.2362 holds, and so the probability of
short term succession of higher lows is a strong possibility.Upper resistance at the 1.2495 and then 1.2532. Support lies at the 1.2247.
Overall in the longer term, EUR/USD hs been showing signs of a downtrend
for the last 6 months since May 2014.
The break of the strong support area between 1.2755 (09/07/2013 low) and 1.2662 (13/11/2012 low) illustrates the probability for a decline towards the support area at 1.2043 (24/07/2012 low). A key
resistance will stand at 1.2600 (19/11/2014 high)
An overall medium term strategy calls for taking a short opportunity at a bounce .
- EUR/GBP - S-TERM Sell 0.7939 Stop 0.7987
For the EUR/GBP - this is a fading bullish momentum that can only weaken with hourly resistance which is currently now standing at 0.7954. Supports can be found at 0.7874 (intraday low) and 0.7845 (08/12/2014 low)but in the longer term the major support area is going to be between 0.7755 (23/07/2012 low) and 0.7694 (20/10/2008 low) and so far that has held. A decisive break of the resistance at 0.8034 is expected soon as support gradually wanes.
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