
Current level - 1.3722
The pair is in a broad consolidation pattern below 1.4580 resistancearea and current sell-off from 1.4550 is expected to be the final slideto complete that pattern. Technical indicators on the larger frames areneutral and trading is situated betweenthe 50 and 200 dailySMAs,currently projected at 1.4301 and 1.4020.I believe, that last Friday's high at 1.3869 was the final of theconsolidation pattern above 1.3608 and currently the downtrend has beenrenewed for a break through 1.3655, towards 1.3520. The intradayoutlook is negative, targeting 1.3608 low and initial resistance isprojected at 1.3754.
| 1.3754 | 1.3869 | 1.3950 | 1.4270 |
| 1.3655 | 1.3608 | 1.3520 | 1.3360 |
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Current level - 78.13
The overall downtrend continues to be intact, aiming at new historicallows below 75.95. Technical indicators are still descending and crucialresistance on the daily frame is 80.20.Still in a ranging mode and trading remains calm above 77.70support area. Although the lack of trend dynamics issues a clear "standaside" signal, the overall outlook is still with a bullish nuance,focusing on 80.00 static resistance.
| 78.50 | 79.50 | 80.+ | 81.50 |
| 77.70 | 76.60 | 75.75 | 74.20 |
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Current level - 1.5984
The pair is in a downtrend from 1.6616 high. Technical indicators aredescending and trading is situated below the50- and 200-day SMA, currently projected at 1.6209 and 1.6098.The intraday bias is negative after the recent high at 1.6076.Expect further depreciation for a break through 1.5946, towards 1.5853support area. Initial resistance is projected at 1.6006.
| 1.6006 | 1.6076 | 1.6250 | 1.6440 |
| 1.5946 | 1.5853 | 1.5853 | 1.5680 |
Source http://www.fxstreet.com/technical/analysis-reports/forex-economic-analysis/2011-11-07.html