Forex Free signal (2012/01/03)

Technical Analysis

EUR/USD
Daily maximum: 1.3058
Daily minimum: 1.2935
EUR/USD edged skyrocketed today after touching the daily mean forecast at 1.2938 after German unemployment declined more than expected. Daily Resistance: 1.2964; 1.2994; 1.3018. Daily Support: 1.2910; 1.2886; 1.2856. Daily Bias: Bearish.

EUR/JPY
Daily maximum: 100.12
Daily minimum: 99.55
The shared European currency attempted to break through the 100 level on more-than-forecast German employment data, remaining the daily target at 99.54 untapped for now. Daily Resistance: 99.79; 100.14; 100.35. Daily Support: 99.23; 99.02; 98.67. Daily Bias: Bearish.

GBP/USD
Daily maximum: 1.5624
Daily minimum: 1.5506
GBP continues recovering previous weekly losses after hitting the daily market participants’ forecast consensus (1.5508) on strong UK Manufacturing PMI (49.6 vs. 47.4 estimate). Daily Resistance: 1.5546; 1.5583; 1.5622. Daily Support: 1.5470; 1.5431; 1.5394. Daily Bias: Strongly bearish.

USD/JPY
Daily maximum: 76.96
Daily minimum: 76.65
The Japanese yen strengthened today as the EU debt woes continue to worry investors. The daily forecast mean at 76.95 has been approached. Daily Resistance: 77.09; 77.29; 77.41. Daily Support: 76.77; 76.65; 76.45. Daily Bias: Bearish.

USD/CHF
Daily maximum: 0.9400
Daily minimum: 0.9316

The daily market forecast mean at 0.9391 remained intact today as the SVME PMI index showed the Swiss economy shows resilience to the global economic slowdown, thus the pair moved downwards. Daily Resistance: 0.9418; 0.9440; 0.9469. Daily Support: 0.9367; 0.9338; 0.9316. Daily Bias: Neutral.

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