Forex technical overview

EUR-USD => Resistance zone of 1.4845 - 1.4875 may provoke another dip towards 1.4740 and possibly below 1.4680.

GBP-USD => Expecting further sell off towards 1.9660, possibly 1.9565 presuming that resistance around 1.9755 holds. Breaking clearly above 1.9755 will make perspectives bullish with a pullback to 1.9800 and possibly 1.9850 level.

USD-CHF =>Support levels - 1.0810 and 1.0840. Looking for an up-move to 1.0945. Breaking below 1.0780 cancels bullish expectations.

USD-JPY => Support levels are at 106.20 and 106.35. Aiming at 106.95. Breaking below 106.00 calls selles into play.

EUR-JPY => Preferred outlook is for a dip to 157.45 or even 157.00 with a pullback to 158.30. Breaking clearly below 156.25 turns picture bearish.

EUR-GBP => Expecting further rally towards 0.7540 and even 0.7595 assuming that support at 0.7510 holds. Later a correction to 0.7510 - 0.7495 area is expected.

EUR-CHF => Support levels are at 1.6060 and 1.6080. Looking for further up-move to 1.6155 or even 1.6195. Stops are below 1.6040.

AUD-USD => 0.9080 - 0.9080 zone should see the end of an uptrend. A pullback down to 0.8975 is anticipated. Rising above 0.9115 cancels expected pullback.

USD-CAD => While 0.9965 - 0.9985 level resists we may see a fall to 0.9895. Later a corrective move up to 0.9985 or 1.0010 should be seen.

GBP/JPY => with pivot at 210.15 -a key support, below should see fresh weakness to 204.40. Resistance at 214.00 if broken opens a short term opportunity to 215.00 - next key level.

Forex fundamental analysis
not much today
AUD 9:30 PM EST Retail Sales
AUD 7:30 PM EST Interest Rate Statement

Wish every Forex trader win big in February!

This entry was posted on Monday, February 4th, 2008 at 3:30 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.