Technical Analysis Forex - 27 12 2010

EURUSD
The pair remained in the consolidation area roughly between 1.3070 and 1.3140, the markets in general can be characterized of low volume trading because of the Christmas holidays. The overall outlook for the Euro is negative as Fitch downgraded Portugal’s debt rating on the Christmas eve. However it seems like the currency pair has found a strong support at about 1.3050 and last week’s range may be a reversal pattern.
Support and Resistance 1.3070/1.3140

GBPUSD
The cable paused the move down at the support level of 1.5360 and has retraced up to 1.5480. However, it is a good correction movement for the market to continue its further move down, because due to the Christmas mood that characterizes the markets this week, a consolidation area may be developed.
Support and Resistance 1.5360/1.5480

Related articles:

Technical Analysis Forex - 23 12 2010 (2010-12-23) Technical Analysis Forex - 22 12 2010 (2010-12-22) Technical Analysis Forex - 21 12 2010 (2010-12-21) Technical Analysis Forex - 20 12 2010 (2010-12-20) Technical Analysis Forex - 16 12 2010 (2010-12-16)

International Association of Forex Traders

Company: International Association of Forex Traders
Number of participants: 30,000
Amount of payouts: 1,500,000$
Number of partner-brokers: 62
Number of payment systems: 8

Markets

Markets Broker Review
Notes:Brand New Broker Platform
Min Account: 50$
Bonus: $2000

eToro Forex Broker

eToro Broker Reviews
Notes: Weekly Championship
Min Account: 50$
Spread: 2 Pips

Plus500 Forex Broker

Notes: No commissions! - fixed spreads
Min Account: 100$
Trade Stocks, Forex, CFDs, Indices, Oil and more

AVA Fx Forex Broker

AVAFX Broker Reviews
Notes: Easy Platform
Min Account: 100$
Max Leverage: 1:200

FXCM

AskoBid

askoBid Broker Review
Notes: Simple and new broker
Bonus: 30% reward on first deposit

Search