FROM COLLIN TWIGGS:

This is a 20-year (monthly) chart of the US dollar against the Japanese yen. The dollar has declined in a primary down-trend since early 2008. Long-term support at 80 failed to halt the fall and the greenback is now ranging between ¥75 and ¥80.
The down-trend is in its fourth year and large bullish divergence on 63-day Twiggs Momentum warns of a reaction. Penetration of the declining trendline would strengthen the signal and breakout above 80 would confirm, offering a long-term target of 100.

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Pivot: 1775.00

Most Likely Scenario: SHORT positions below 1775 with 1753 & 1744 as next targets.

Alternative scenario: The upside penetration of 1775 will call for 1786 & 1794.

Comment: The RSI is mixed with a bearish bias.

Pivot: 1.0165

Most Likely Scenario: Short positions below 1.0165 with targets @ 1.003 & 1 in extension.

Alternative scenario: Above 1.0165 look for further upside with 1.0225 & 1.026 as targets.

Comment: As long as 1.0165 is resistance, likely decline to 1.003.

Pivot: 1.5825.

Most Likely Scenario: SHORT positions below 1.5825 with targets @ 1.568 & 1.566.

Alternative scenario: The upside penetration of 1.5825 will call for a rebound towards 1.5875 & 1.593.

Comment: The pair is pulling back on its new resistance ahead of further weakness.

EUR/USD intraday: key ST resistance at 1.3555

Pivot: 1.3555. Most Likely Scenario: SHORT positions below 1.3555 with 1.3425 & 1.338 in sight. Alternative scenario: The upside penetration of 1.3555 will call for 1.36 & 1.364. Comment: The pair is posting a rebound but stands below its resistance. Trend: ST Consolidation; MT Bearish

November 16, 2011
Current level - 1.5759

The pair is in a downtrend from 1.6616 high. Technical indicators are descending and trading is situated below the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.

Finally, the pair broke through 1.5850 major support and current outlook is bearish, towards 1.5630, en route to 1.5530. Major resistance on the upisde is 1.5850.