Technical Trading Update Jan 10 2011
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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