Daily Technical Analysis By FXCC - 10/10/2011

[alayoua]

Daily Technical Analysis By FXCC - 10/10/2011
Euro vs. US Dollar (EURUSD):maintains a bid tone for now. Break above (1.35345) may trigger further recovery of the EURUSD. Going bellow latest swing low at (1.33305), however, would confirm continuation of the bearish trend, towards next objective downwards (1.30908). You may try to sell from (1.34745), (1.35245), and (1.35813) with a stop loss above (1.35345).

R1: 1.34745| R2: 1.35245 | R3: 1.35813 | R4: 1.36380 | R5: 1.37448
S1: 1.33305 | S2: 1.32543 | S3: 1.31638 | S4: 1.30908 | S5: 1.30508


Great Britain Pound vs. US Dollar (GBPUSD):The bias remains neutral in nearest term. A need for a clear break from the range area (1.56560