Forex daily market comments Wednesday August 29, 2007
Wednesday August 29, 2007
| There is bearish potential for a fall to 1.3577 while 1.3628 - 1.3642 resist. After this fall a recovery up to 1.3642 or 1.3655 is expected. | |
| GBP-USD | Market should meet resistance at 2.0053. Expect then an extended move down to 1.9977 -1.9916 area. |
| USD-CHF | It may attempt a test higher to 1.2024 - 1.2044 after which weakness may set it to a drift down to below 1.1963 limit. |
| USD-JPY | Market should not go lower than 113.34. After this move down it should go up to 114.24 - 114.78 area. |
| EUR-JPY | Market should not go lower than 153.87. After this move down it should go up to 155.4 - 156.32 area. |
| EUR-GBP | Corrective dips should halt near 0.6779 for one more thrust upwards towards 0.6801. Stop loss below 0.6764 zone. |
| EUR-CHF | Market should meet resistance at 1.6364. Expect then an extended move down to 1.6312 -1.6243 area. |
| AUD-USD | Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.8128 or 0.8111. Major support is clustered around 0.8027 limit. |
| USD-CAD | Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0688 or 1.0727 if support around 1.0609 hold. After which a pullback to 1.0609 - 1.0588 zone is possible. |
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