MNI FX Technical Analysis Report 21 December 2012

Transcription

1 MNI FX Technical Analysis Report 21 December 2012 Contents EURO-DOLLAR: Fails To Break Dec 19 High, Bears Eye $ CABLE: Bulls Fail To Break Dec 19 High, Bears Eye 23.6% Level 3 DOLLAR-YEN: Bulls Fail To Make New High, Bears Eye Y EURO-YEN: Bulls Fail Ahead Of Y112.50, Posts Lower High & Lower Low 5

2 MNI FX Technical Analysis Report Page 2 EURO-DOLLAR: Fails Before Dec 19 High, Bears Eye $ RES 4: $1.3370/3386 Former Nov 21 supp line, High Mar 27 RES 3: $ Weekly upper Bollinger band RES 2: $ High Dec 19 RES 1: $ Upper Bollinger Band LATEST PRICE: $ SUP 1: $1.3127/3156 Reversal High Dec 5, 23.6% of $ to $ SUP 2: $ May 1 trendline SUP 3: $ day moving average SUP 4: $ day moving average Euro-dollar now declines after bulls tried to break the high of Dec 19, the potential gravestone doji, however bears prevailed. Bears now look to test initial support, the Dec 5 high and also the 23.6% of $ to $1.3308, at $1.3127/3156, respectively. Slow stochastics remains overbought, with a potential sell-signal forming. Momentum still trends slightly higher. Initial res seen at $1.3267, the upper daily Bollinger band.

3 MNI FX Technical Analysis Report Page 3 CABLE: Bulls Fail To Break Dec 19 High, Bears Eye 23.6% Level RES 4: $ Reversal high 23 Aug 2011 RES 3: $ High April 2011 RES 2: $1.6302/6307/6309 Apr 30 high, High Dec 19, 2012 high Sep 21 RES 1: $1.6273/6285 High Sep 28, Upper daily Bollinger band LATEST PRICE: $ SUP 1: $ Apr 2011 former res line SUP 2: $ % of $ to $ SUP 3: $1.6113/6124 Nov 16 supp line, 21-DMA, 38.2% of $ to $ SUP 4: $ % of $ Cable struggled higher yesterday, but failed to make a new high and has already moved lower today. Daily studies also wane as RSI slips below the overbought line and slow stochastics shows a potential sellsignal. Initial support seen at $1.6231, the Apr 2011 former resistance line. A break below here opens the downside to $1.6194, the 23.6% of $ Bulls need to break $1.6307, the Dec 19 high, to return to an uptrend.

4 MNI FX Technical Analysis Report Page 4 DOLLAR-YEN: Bulls Fail To Make New High, Bears Eye Y83.50 RES 4: Y85.93 High 17 Sep 2010 RES 3: Y85.53 Reversal high 6 Apr RES 2: Y week MA RES 1: Y84.48/51/62 Dec 17 high, Reversal high 15 Dec 2010, Dec 19 high LATEST PRICE: Y84.04 SUP 1: Y83.46/50 Tenkan line, 38.2% of Y81.69 to Y84.62 SUP 2: Y % of Y81.69 to Y84.62 SUP 3: Y82.76/85/91 Kijun line, 61.8% Y , 23.6% Y , 21-DMA SUP 4: Y % of Y Dollar-yen leaves a doji yesterday showing strong buying pressure with a long lower shadow, however bulls failed to make a new high. Daily studies are slipping, momentum breaks its uptrend and slow stochastics shows the potential for a sell-signal. Initial supp seen at Y83.46/50, the Tenkan line and 38.2% of Y81.69 to Y Bears eye the 38.2% level. Bulls look to test Y84.62, the Dec 19 high.

5 MNI FX Technical Analysis Report Page 5 EURO-YEN: Bulls Fail Ahead Of Y112.50, Lower High & Lower Low RES 4: Y % of Y to Y94.12 RES 3: Y % of Y to Y94.28 RES 2: Y week moving average RES 1: Y112.17/ % of Y to Y94.12, Dec 19 high LATEST PRICE: Y SUP 1: Y109.93/98/ Low Dec 17, High Dec 14, 38.2% Y SUP 2: Y109.49/63 Tenkan line, 23.6% of Y to Y SUP 3: Y % of Y to Y SUP 4: Y108.29/47/66 21-DMA, 61.8% Y , Support line from Nov 13 Euro-yen posts a spinning-top yesterday, highlighting the struggle between bulls and bears as bulls fail to make a new high or test initial resistance, still seen at Y112.17/50, the 61.8% of Y to Y94.12 and Dec 19 high, respectively. Slow stochastics shows a potential sell-signal while 10-day momentum begins to weaken. Initial support seen at Y109.93/98/110.01, the Dec 17 low, Dec 14 high and 38.2% level.