Technical Trading Update Jan 12 2011

Technical Trading

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.3027

Overview – So far this week the EURUSD has been locked in a trend channel drifting from the 1.2880 area to the mid 1.3040 area. A clean push higher will test previous supports near 1.3090. More downside could be expected on a break below 1.2885.

Resistance – 1.3045 / 1.3085 / 1.3140 / 1.3190 / 1.3215

Support – 1.2970 / 1.2923 / 1.2890 / 1.2810 / 1.2750

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GBP/USD – Current 1.5675

Overview – Much like the EURUSD this pair has been drifting

Technical Trading Update Jan 10 2011

Technical Trading

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

EUR/USD – Current 1.2925

Overview – Supports along 1.2890 area holding bottom side pressure for now. A confident break of this support will look for the next slide to 1.2800 and 1.2750. Resistance will likely be seen near 1.2975 but a push could send it higher to 1.3080.

Resistance – 1.2975 / 1.3035 / 1.3080 / 1.3148 / 1.3190

Support – 1.2890 / 1.2810 / 1.2750 / 1.2670 / 1.2625

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GBP/USD – Current 1.5540

Overview – Consolidation is dominant viewed on the

Technical Trading Update Jan 5 2011

Technical Trading

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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.

Looking forward to the end of the week, there are some significant news events that could dramatically change the technical trading outlook.

EUR/USD – Current 1.3145

4 hour View – As noted in the last update, a break of the 1.3300 area gave way to the next leg lower and now finding support in the mid 1.3100’s. Significant congestion between