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Archive for August, 2007

Posted in Daily market comments by Practical trader on August 31st, 2007

Friday August 31, 2007

GBP-USD	Current up-move should continue up to 2.0187 or 2.0257. Any correction should find support in 2.0116 - 2.0081 zone.
USD-CHF	Current rise seems to be over near 1.2058 or 1.2082 for a retracement towards 1.2033 - 1.2017 area.
USD-JPY	Strength can extend to 116.05 or even higher than 116.33 as declines are expected to find support at 115.54 or 115.3. A fall below 114.74 could turn it bearish.
EUR-JPY	It looks more likely that it would rise to above 158.42 or 158.97 from 157.32 or 156.77. After which a downside move to below 155.67 is expected.
EUR-GBP	It is preferable to see an attempt to below 0.6762 or below 0.6751 in extension. A clear break of 0.6781 is bullish.
EUR-CHF	Current rise should end around 1.641 or 1.6439. Objectives of this down-move are 1.6386 or 1.6357. A rise above 1.6463 is again bullish.
AUD-USD	Support at 0.8142 or 0.8111 should hold. Then a correction to above 0.8281 is anticipated. A clear break of 0.8065 is again bearish.
USD-CAD	Current fall seems to be over near 1.0566 or 1.0533 for a rebound towards 1.0598 - 1.0625 area.

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Posted in Daily market comments by Practical trader on August 30th, 2007

Thursday August 30, 2007

EUR-USD	It looks set for gains to above 1.3717. Supports at 1.362 and 1.364. A break of 1.3599 will damage this bullish structure.
GBP-USD	It should trade higher to 2.0251 while 2.0107 or 2.007 offers support. Stop loss below 2.0032 zone.
USD-CHF	Preferred outlook is for a drift down to below 1.195. Resistances are at 1.1997 and 1.2006. A rise above 1.203 would delay but not abort this expected fall.
USD-JPY	It looks set for gains to above 116.99. Supports at 115.01 and 115.42. A break of 114.6 will damage this bullish structure.
EUR-JPY	It looks set for gains to above 160.41. Supports at 156.72 and 157.47. A break of 155.97 will damage this bullish structure.
EUR-GBP	Market should pop up towards 0.6799 or 0.6819 this bullish scenario would be damaged if 0.6772 - 0.6771 zone is broken, a severe break down could then occur.
EUR-CHF	It should be subject to more sell off towards 1.6348 or 1.6287. Corrective upward swings should face resistance around 1.6497 area. A break of 1.6454 is bullish.
AUD-USD	It should test 0.8365 area after which a sell off down to 0.8101 or extended to 0.7986 area is expected.
USD-CAD	There are initial signs of a good corrective recovery towards 1.064 or even 1.066. Supports at 1.059 and 1.0561 zone.

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Posted in Daily market comments by Practical trader on August 29th, 2007

Wednesday August 29, 2007

EUR-USD	There is bearish potential for a fall to 1.3577 while 1.3628 - 1.3642 resist. After this fall a recovery up to 1.3642 or 1.3655 is expected.
GBP-USD	Market should meet resistance at 2.0053. Expect then an extended move down to 1.9977 -1.9916 area.
USD-CHF	It may attempt a test higher to 1.2024 - 1.2044 after which weakness may set it to a drift down to below 1.1963 limit.
USD-JPY	Market should not go lower than 113.34. After this move down it should go up to 114.24 - 114.78 area.
EUR-JPY	Market should not go lower than 153.87. After this move down it should go up to 155.4 - 156.32 area.
EUR-GBP	Corrective dips should halt near 0.6779 for one more thrust upwards towards 0.6801. Stop loss below 0.6764 zone.
EUR-CHF	Market should meet resistance at 1.6364. Expect then an extended move down to 1.6312 -1.6243 area.
AUD-USD	Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.8128 or 0.8111. Major support is clustered around 0.8027 limit.
USD-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0688 or 1.0727 if support around 1.0609 hold. After which a pullback to 1.0609 - 1.0588 zone is possible.

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Posted in Daily market comments by Practical trader on August 28th, 2007

Tuesday August 28, 2007

EUR-USD	Decline should be supported around 1.3627 - 1.3606 zone for rally to above 1.3704. A clear break of 1.3606 will damage this expected rally.
GBP-USD	Decline should be supported around 2.0097 - 2.0071 zone for rally to above 2.0217. A clear break of 2.0071 will damage this expected rally.
USD-CHF	It should test 1.204 area after which a sell off down to 1.2005 or extended to 1.198 area is expected.
USD-JPY	While below 116.16 or 116.31 it could fall towards below 115.56 or 115.26. After which a corrective/consolidation activity is expected.
EUR-JPY	Preferred view is for a fall to below 157.58 while 158.12 - 158.63 area resists. A clear break of 159.17 would be bullish.
EUR-GBP	Corrective dips should halt near 0.677 for one more thrust upwards towards 0.6788. Stop loss below 0.6757 zone.
EUR-CHF	Decline should be supported around 1.6402 - 1.6389 zone for rally to above 1.6457. A clear break of 1.6389 will damage this expected rally.
AUD-USD	Should fall around 0.8234 while below 0.828 - 0.8277 zone. Then a recovery up to above 0.8308 is expected.
USD-CAD	It should trade higher to 1.0573 or above 1.0601 in extentsion. Supports at 1.0508 and 1.0522. Stop loss below 1.0494 zone.

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