eurusd09122011.png

 Current level - 1.3332

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 still think, that the slide below 1.3548 is corrective in natureand my outlook is bullish, for a break through 1.3375 intradayresistance, towards 1.3459 crucial area, en route to 1.3670 main target. 

Key Market Levels
1.3375 1.3548 1.3670 1.3860
1.3285 1.3211 1.3145 1.2870

__________

usdjpy09122011.png

 Current level - 77.70

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.

A reversal at 77.09 marks the beginning of a minor uptrend towards78.60. Initial resistance is projected at 77.90 and intraday support is77.47. 

Key Market Levels
77.90 78.59 78.59 81.50
77.29 76.50 75.75 74.20

__________

gbpusd09122011.png

 Current level - 1.5635

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.

I still think, that all the swings below 1.5780 are just a part ofa consolidation pattern, so yesterday's sell-off should be considered afinal leg of that range and my outlook is positive for a break through1.5780, en route to 1.5880. Minor intraday resistance lies at 1.5660. 

Key Market Levels
1.5660 1.5780 1.5888 1.6168
1.5585 1.5590 1.5330 1.5270

Source http://www.fxstreet.com/technical/analysis-reports/forex-economic-analysis/2011-12-09.html



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