Forex daily market comments Thursday August 23, 2007
Thursday August 23, 2007
| 1.3542. Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3555 or 1.3615 if support around 1.3514 hold. After which a pullback to 1.3514 - 1.3496 zone is possible. | |
| GBP-USD | 1.9928. It should trade higher to 1.9971 while 1.9887 or 1.9865 offers support. Stop loss below 1.9843 zone. |
| USD-CHF | 1.2064. While below 1.2053 or 1.2072 it could fall towards below 1.2034 or 1.2003. After which a corrective/consolidation activity is expected to 1.2088 zone. |
| USD-JPY | 115.34. It should trade higher to 115.87 while 114.94 or 114.67 offers support. Stop loss below 114.40 zone. |
| EUR-JPY | 156.20. It should trade higher to 157.17 while 155.27 or 154.79 offers support. Stop loss below 154.31 zone. |
| EUR-CHF | 1.6338. Current rise seems to be over near 1.6340 or 1.6376 for a retracement towards 1.6303 - 1.6285 area. |
| AUD-USD | 0.8065. It may attempt a test higher to 0.8068 after which weakness may set it to a drift down to below 0.8000 limit. |
| USD-CAD | 1.0620. Strength can extend to 1.0643 or even higher than 1.0666 as declines are expected to find support at 1.0597 or 1.0574. Stop Loss below 1.0527 zone. |
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