Forex technical analysis

EUR-USD => 1.4850 - 1.4870 should mark the end of an uptrend with a following pullback to 1.4730. Rising above 1.4920 cancels pullback.

GBP-USD => 1.9635 if not then 1.9710 will end the uptrend with a pullback to 1.9560 - 1.9520.

USD-CHF => While 1.0965 - 1.1000 resists we may see another dip to 1.0830 or 1even 1.0765. Later a correction to 1.0965 and possibly 1.1000 is expected.

USD-JPY => 107.30 if not then 106.90 will stop the fall for a move up to 107.60 - 107.90.

EUR-JPY => Expecting a recovery to 159.50 and possibly to 159.95. Support levels are at 158.95 and 158.70.

EUR-GBP => 0.7565 resistance is at watch, if holds we should see a fall to 0.7487. Stop loss slightly above 0.7580.

EUR-CHF => Downtrend will prevail. Probably there is going to be an attempt to rise to 1.6210 from either 1.6130 or 1.6100.

USD-CAD => Main support at 1.0050 should hold allowing a move up to 1.0150 and possibly to 1.0185.

GBP-JPY => sideways mode is in full swing. Friday trading for this pair should be avoided.

Forex Fundamental overview
Time EST
8:30am CAD Core Retail Sales m/m High Impact Expected
8:30am CAD Retail Sales m/m Medium Impact Expected Forecast => 0.8%. Higher than that - stronger CAD, lower - weaker. 1:30pm USD Dallas Fed President Fisher Speaks Medium Impact Expected

This entry was posted on Friday, February 22nd, 2008 at 6:46 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.