Forex daily market comments Monday August 20, 2007
Monday August 20, 2007
| 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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