EUR-USD => sellers dominance sets up test of rising hourly trendline support at 1.5690, trading below calls for decline extend to 1.5640-50 at least, preference lower while trading below 1.5740

AUD-USD => testing hourly lows at 0.9240-50 after failure trading below 0.9300, trading below calls for decline to 0.9200-10 at least, preference lower while trading below 0.9275

GBP-USD => breakout down trading below recent range lows at 1.9710-50 sets up potential move to 1.9380-430, strong selling potential while trading below 1.9730

Further comments see at: http://forex-trading-signals.net/morning-comments

Fundamentals today:
time EST
10:00am USD Pending Home Sales m/m => Medium Impact Expected
10:00am USD IBD/TIPP Economic Optimism => Low Impact Expected
2:00pm USD FOMC Meeting Minutes => High Impact Expected
7:01pm GBP Consumer Confidence Index => Medium Impact Expected
8:30pm AUD WMI Consumer Sentiment m/m => Medium Impact Expected
Tentative JPY Interest Rate Announcement => Medium Impact Expected

This entry was posted on Tuesday, April 8th, 2008 at 8:27 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.