Technical Major Currencies Report , Wednesday December 10, 2008

Soory guy..really bz 3day ago....hope today info will help u all get some profit...
GOOD LUCK...:))

Euro

After reaching our target yesterday, the pair was able to enter a new upside wave to trade above the key resistance for the sideways triangle in an attempt to breach the sideways pattern. The pair is still trading near the key resistance bas has now declined below this level that has shifted today to 1.2955 yet above the 23.6% correction at 1.2930. We see the pair trying to gather bullish momentim to successfully breach the resistance level where it should first build a solid base above 1.2980 which is the 61.8% correction for the ascending channel that started on the 13-11-2008 and ended on 25-11-2008. If the pair was able to break the level, we expect to see it extend its gains to the 100% correction at 1.3240 gradually. However, at the moment, there is no sign of confirming this breach as we should remain cautions during trading because a reverse to levels below the 1.2930 level will stall further gains and perhaps continue the neutral trend.

The trading range for today is among the key support at 1.2735 and the key resistance at 1.3240

The general trend is to the downside as far as 1.5080 remains intact with targets at 1.2340 and 1.2225
Support 1.2905 1.2850 1.2820 1.2805 1.2735
Resistance 1.2955 1.2980 1.3005 1.3060 1.3125
Recommendation Buy the pair (carefully) above 1.2905 with targets at 1.3060 and stop loss with a four hour closing below 1.2820

GBP-USD Downtrend is still intact.It should continue to fall to 1.4715 or 1.4648 if resistance at 1.4781 area doesnt break . Direct rise above 1.4781 could turn the picture bullish for a corrective up move to 1.4833 or even 1.4884 limit .
USD-JPY It might hold above 92.03 or 91.68 for a rise towards above 92.82. Stop loss below 91.68 zone.
USD-CHF Current fall seems to be over near 1.2030 or 1.1980 for a rebound towards 1.2080 - 1.2116 area.