Weekly pivot points in Forex

Currency	Support 2	Support 1	Pivot	Resist 1	Resist 2
EUR/USD	1.4444	1.4521	1.4670	1.4726	1.4753
GBP/USD	2.0243	2.0354	2.0545	2.0618	2.0846
USD/JPY	108.99	109.13	110.95	111.76	112.88
AUD/USD	0.8754	0.8818	0.8970	0.9017	0.9073

Forex Fundamentals - news today

Should be a reasonably quiet day. No major news announcements.

8:30 am EST Foreign Securities Purchases (CAD)
8:30 am EST Wholesale Sales m/m (CAD)
1:00 pm EST NAHB Housing Market Index (USD)

Technical overview on currency pairs in Forex

EUR-USD => Expect further downside moves towards 1.4596 / 1.4544. Resistance at 1.4690 should hold all upside pullbacks. Breaking above 1.4705 is in favor of buyers.

GBP-USD => Support levels - 2.0438 and 2.0469. Pair should rally further to 2.0584 or even 2.0647. S/L slightly below 2.0406.

USD-CHF => Watching resistance at 1.1220. If holds we should see further sell off to 1.1112. S/L slightly above 1.1240.

USD-JPY => Looking for price to move up to 111.13 - 111.58 with a following slow descending towards 110.03.

EUR-JPY => Current bias is towards additional dips wit a target at 160.89 / 159.28. Resistance at 163.81 should hold all upwards corrections. Breaking above 164.285 sets a bullish mode.

EUR-GBP => Resistance levels - 0.7137 and 0.7148. Gradual fall down towards 0.7126 or even 0.7114 is expected. Rising above 0.7160 will postpone that fall.

EUR-CHF => Looking for possible entries at 1.6373 and 1.6357 with a first target at 1.6426. Breaking below 1.6319 will cancel upward prospectives.

AUD-USD => We may see another attempt to reach 0.8930 with a following slow descending to 0.8844.

USD-CAD => Preferred direction is for a rise from 0.9722 / 0.9666 to 0.9813 / 0.9848. Later a pullback towards 0.9595 may be seen.

Have a profitable week in Forex!

This entry was posted on Monday, November 19th, 2007 at 3:35 am and is filed under Daily market comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.