Forex daily market comments August 2, 2007
Thursday August 2, 2007
| 1.3667. It is likely to fall towards 1.3633 as its corrective rally could falter in 1.3688 - 1.3671 area. Stop above 1.3705 zone. | |
| GBP-USD | 2.0324. It should be subject to more sell off towards 2.0234 or 2.0145. Corrective upward swings should face resistance around 2.0418 area. A break of 2.0412 is bullish. |
| USD-CHF | 1.2044. It should be subject to more sell off towards 1.1999 or 1.1954. Corrective upward swings should face resistance around 1.2101 area. A break of 1.2083 is bullish. |
| USD-JPY | 118.95. It should test 120.26 area after which a sell off down to 118.04 or extended to 117.12 area is expected. |
| EUR-JPY | 162.58. It should test 164.34 area after which a sell off down to 161.05 or extended to 159.51 area is expected. |
| EUR-GBP | 0.6725. We prefer to see an attempt to below 0.6715 or below 0.6704 in extension. A clear break of 0.6740 is bullish. |
| EUR-CHF | 1.6462. It should test 1.6571 area after which a sell off down to 1.6384 or extended to 1.6307 area is expected. |
| AUD-USD | 0.8557. It should test 0.8669 area after which a sell off down to 0.8482 or extended to 0.8408 area is expected. |
| USD-CAD | 1.0562. Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.0545 or 1.0511. Major support is clustered around 1.0436 limit. |
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