Forex daily market comments Monday July 30, 2007
Monday July 30, 2007
| Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.3617 or 1.3594. Major support is clustered around 1.3528 limit. | ||
| GBP-USD | Market should not go lower than 2.0145. After this move down it should go up to 2.0253 - 2.0333 area. | |
| USD-CHF | It should be subject to more sell off towards 1.203 or 1.1973. Corrective upward swings should face resistance around 1.2107 area. A break of 1.2165 is bullish. | |
| USD-JPY | It should test 119.13 area after which a sell off down to 118.12 or extended to 117.42 area is expected. | |
| EUR-JPY | Current fall is near an end of wave around 160.43 - 160.71 zone, a rally should then proceede to above 162.91 or 163.35. Fall below 160.31 would cancel this scenario. | |
| EUR-GBP | Currently uptrend should end around 0.6758 - 0.6744 area. A correction down to below 0.6714 is expected. A rise above 0.6754 will abort the expected correction. | |
| EUR-CHF | It may meet resistance in 1.6486 - 1.6507 zone for a drift down to 1.6424 zone, after which bounce to 1.6523 is anticipated. | |
| AUD-USD | Market should not go lower than 0.8434. After this move down it should go up to 0.8523 - 0.8604 area. | |
| USD-CAD | A correction down to 1.0555 followed buy a move up to 1.0621 or 1.0653. A break above 1.0687 would accelerate this bullish move. |
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