Archive for August, 2007

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Forex daily market comments Wednesday August 22, 2007

Posted in Daily market comments by Practical trader on August 22nd, 2007

Wednesday August 22, 2007

EUR-USD 1.3466. Preferred outlook is for a drift down to 1.3441 or below 1.3417. Resistances are at 1.3466 and 1.3481. A rise above 1.3505 would delay but not abort this expected fall.
GBP-USD 1.9818. It is likely to fall towards 1.966 unless a corrective rally breaks the 1.9863 resistance. Stop above 1.9902 zone.
USD-CHF 1.2062. It should trade higher to 1.2086 or above 1.211 in extension. Supports at 1.2037 and 1.2049. Stop loss below 1.2025 zone
USD-JPY 114.43. While below 114.56 - 114.84 it might drop to 113.88 or below 113.33 zone.
EUR-JPY 154.07. While below 154.32 - 154.72 it might drop to 153.27 or below 152.47 zone.
EUR-GBP 0.6794. It is a triangle configuration. Market should break either side. Acceleration should occur above 0.6818 or under 0.6773 limits.
EUR-CHF 1.6242. It should trade higher to above 1.6271 while 1.6238 offer support. Minor support at 1.6224. Stop Loss below 1.6176 zone.
AUD-USD 0.8016. Market should pop up towards 0.8078 or 0.8139 this bullish scenario would be damaged if 0.8013 - 0.8012 zone is broken, a severe break down could then occur.
USD-CAD 1.0623. A corrective/consolidation activity between 1.0561 and 1.0712 is likely for a while.

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Forex daily market comments Tuesday August 21, 2007

Posted in Daily market comments by Practical trader on August 21st, 2007

Tuesday August 21, 2007

EUR-USD 1.3474. Decline should be supported around 1.3453 - 1.3433 zone for rally to above 1.3529. A clear break of 1.3433 will damage this expected rally.
GBP-USD 1.9877. It should trade lower to 1.9718. Resistances are at 1.9850 and 1.9890. A break of 1.9929 is bullish confirmed by a close above 1.9959 limit.
USD-CHF 1.2058. It may meet resistance in 1.2058 - 1.2066 zone for a drift down to below 1.2026 zone.
USD-JPY 114.89. Currently uptrend should end around 115.42 - 115.7 area. A correction down to below 113.88 is expected. A rise above 116.51 will abort the expected correction.
EUR-JPY 154.80. While below 156.05 it is more likely to fall further towards 154.08 or 153.46. Premature rise above 156.05 could see it rising above 157.29 zone.
EUR-GBP 0.6778. There are initial signs of a good corrective recovery towards 0.6802 or even 0.6810. Supports at 0.6778 and 0.6761 zone.
EUR-CHF 1.6247. An attempt to below 1.6216 or below 1.6186 in extension is preferred. A clear break of 1.6278 is bullish.
AUD-USD 0.8062. Current up-move should be over between 0.8078 and 0.8015. A correction down to 0.7813 is anticipated. A break of 0.8140 is bullish.
USD-CAD 1.0552. It may meet resistance in 1.0552 - 1.0570 zone for a drift down to 1.0497 zone, after which bounce to 1.059 is anticipated.

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Forex daily market comments Monday August 20, 2007

Posted in Daily market comments by Practical trader on August 20th, 2007

Monday August 20, 2007

EUR-USD 1.3492. A corrective/consolidation activity between 1.3392 and 1.3647 is likely for a while.
GBP-USD 1.9818. It should trade higher to 1.9952 or above 2.0086 in extension. Supports at 1.9735 and 1.9802. Stop loss below 1.9668 zone
USD-CHF 1.2053. It is likely to attempt to go below 1.1891 while below 1.2053 - 1.2076 area. Rise above 1.2157 would dampen this bearish expectation.
USD-JPY 114.21. It should test 116.13 area after which a sell off down to 112.23 or extended move to 110.25 area is expected.
EUR-JPY 154.07. It should test 157.65 area after which a sell off down to 150.45 or extended to 146.84 area is expected.
EUR-GBP 0.6807. Current rise seems to be over near 0.6811 or 0.6827 for a retracement towards 0.6794 - 0.6784 area.
EUR-CHF 1.6261. It is likely to attempt nearer support at 1.6176 for extending further to below 1.6091 while below 1.6261 - 1.6304 area. Rise above 1.6346 would dampen this bearish expectation.
AUD-USD 0.7980. It should test 0.8255 area after which a sell off down to 0.7768 or extended to 0.7555 area is expected.
USD-CAD 1.0612. Market should meet resistance at 1.0654. Expect then an extended move down to 1.0522 -1.0485 area.

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Forex Market Hours Monitor

Posted in Forex general by Ptfx on August 19th, 2007

Forex Market Hours Monitor — a freeware program to monitor forex trading market. I would recomend it to anyone who wants to have markets timetable on their hands. Very handy tool and is very essential in every aspect of Forex trading, at least until you memorize the markets timing.

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