Happy February everyone!
Let’s see what Forex has baked for us today.

Forex technicals

EUR-USD => Aiming further up towards 1.4885 and possibly 1.4915. Support at 1.4830 and 1.4805 should hold all pullbacks. Breaking below 1.4745 may provide an opportunity to sellers.

GBP-USD => While 1.9880 - 1.9910 resists we may see another dip towards 1.9815 or possibly 1.9760.

USD-CHF => Main support at 1.0710 should hold allowing a rise to 1.0865 and possibly 1.0915.

USD-JPY => We may see an attempt to register at 106.65, later expect a pull back to 105.80.

EUR-JPY => The market may push higher to 158.45, but later still expecting a correction to 157.00.

EUR-GBP => 0.7500 - 0.7520 area should finalize current up-move. Active support at 0.7470 - 0.7460 area.

EUR-CHF => Main support is at 1.5980, if holds provides and opportunity to reach 1.6120 and possibly 1.6165.

AUD-USD => 0.8920 and 0.8890 levels should hold all attacks for additional move-up to 0.8970 - 0.9020 zone. Breaking below 0.8855 calls sellers into action.

USD-CAD => Further upwards progress is expected with a target at 1.0100 and possibly 1.0175. Active support at 1.0015 - 0.9980 area.

GBP/JPY => key support at 210.00, if passed will send price lower to at least 209.30-40. Uptrend prospectives are still in place with key resistance levels at 212.30, 213.50, 214.00, 215.00.

Forex fundamental overview

CHF  5:30 AM EST SVME PMI
EUR  5:00 AM EST Manfacturing PMI
GBP  4:30 AM EST Manufacturing PMI
USD  8:30 AM EST Nonfarm Employment Change, Unemployment Rate, ISM Manfacturing Index, Consumer Sentiment

Good luck in trading Forex today!

This entry was posted on Friday, February 1st, 2008 at 2:25 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.