Forex technical overview

EUR-USD => Downwards correction should be supported around 1.4755 - 1.4745 level. If so, later expecting a large swing up. S/L is placed slightly below 1.4740.

GBP-USD => 1.9930 - 1.9947 level should see the end of an uptrend with a following pullback towards 1.9830. Rising above 1.9995 cancels a pullback plan.

USD-CHF => Support at 1.0930 and 1.0910 levels should hold allowing a move up to 1.0950 - 1.0970 and possibly to 1.1005. Registering below 1.0895 sets a sellers’ mode.

USD-JPY => Aiming at 107.40 with support currently at 106.75 and 106.90. Breaking below 106.59 sets uncertainty about successful bullish operation.
EUR-JPY => 158.60 - 158.85 levels should see the end of an uptrend with a following pullback to 157.40. Rising above 159.40 suggests no pullbacks mentioned earlier.

EUR-GBP => Resistance at 0.7420 and 0.7435 may provoke further sell off towards 0.7395 level. Rising above 0.7440 is in favor of buyers.

EUR-CHF => 1.6170 - 1.6200 area may become a turning point for a current rise, a pullback will then settle with a target at 1.6136 - 1.6120.

USD-CAD => Expecting a rise to 1.0055 or even 1.0125 level unless 0.9940 - 0.9935 area is damaged. If it gets damaged we may expect a large sell off.

GBP/JPY => Currently looking upwards. Nearest resistance around 213.00 -213.20 levels if passed opens a door to 214.00 level. A confirmed break below 212.20 sets a short term sellers mode.

Forex fundamentals today

CHF 5:30 AM EST Leading Index
USD 8:15 AM EST ADP Nonfarm Employment
USD 8:15 AM EST Gross Domestic Product (GDP)
USD 2:15 PM EST Interest Rate Statement

This entry was posted on Wednesday, January 30th, 2008 at 4:57 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.