Forex technical overview

EUR-USD => 1.4740 - 1.4775 should mark the end of a current up move, expecting a pullback to 1.4700 - 1.4685.

GBP-USD => 1.9485 - 1.9490 is a resistance area that can be tested prior to a dip down towards 1.9460. Later we could see another rising to 1.9515 level.

USD-CHF => While 1.0960 - 1.0985 offers resistance we may witness a dip towards 1.0890. Later a pullback up to 1.0985 - 1.1000 should take place.

USD-JPY => Could reach 108.05 with a following sell off to 107.25 level.

EUR-JPY => Targeting 159.20 level. Support at 158.60 - 158.30 should hold all corrections.

EUR-GBP => In an up trend we are looking towards 0.7600 level presuming that support at 0.7540 holds. Later a correction to 0.7545 - 0.7530 area can be seen.

EUR-CHF => Support at 1.6080 - 1.6050 level should hold allowing a rally towards 1.6190 and higher. Breaking below 1.6050 will geopardise this predicted up move.

AUD-USD => While below 0.9215 - 0.9240 we may see another dip to 0.9140 or even 0.9085. S/L is placed slightly above 0.9290.

USD-CAD => Targeting 1.0225 level. Support at 1.0125 - 1.0095 should hold all corrective dips.

GBP-JPY => Remaining bearish while below 210.00. Downtrend targets - 208.70 and later 207.50.

Forex Fundamentals today
Time: EST
4:30am GBP MPC Meeting Minutes
8:30am USD Core CPI m/m => High Impact Expected
8:30am USD Building Permits => Medium Impact Expected
8:30am USD CPI m/m => Medium Impact Expected
8:30am USD Housing Starts => Medium Impact Expected
2:00pm USD FOMC Meeting Minutes => Medium Impact Expected

This entry was posted on Wednesday, February 20th, 2008 at 5:03 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.