Forex technical analysis

EUR-USD => Expecting an up move pause at 1.5460 - 1.5430 with a pullback down to 1.5295 and lower. Rising above 1.5480 cancels pullback forecast.

GBP-USD => Up move is expected to pause at 2.0185 - 2.0175 with a pullback down to 1.9950. Rising above 2.0255 cancels pullback forecast.

USD-CHF => While bears are pushing down we may see a test of support levels at 1.0175 or 1.0165 with a main support located at 1.0085.

USD-JPY => Resistance at 103.00 - 103.10 should hold for a drop down towards 102.50 - 101.50.

EUR-JPY => From 157.80 - 157.50 expecting an up move towards 158.40 - 158.65. Later we should see a dip down to 157.00 and lower.

EUR-GBP => While 0.7660 - 0.7675 resists we may see a dip towards 0.7630 or even to 0.7605.

EUR-CHF => while 1.5770 - 1.5795 offers resistance we may see a dip to 1.5680. Later a correction up towards 1.5795 or even 1.5820 is anticipated.

AUD-USD => While support at 0.9260 - 0.9215 is intact we may see a rise to 0.9300 - 0.9350, whic later should result in a downtrend.

USD-CAD => A test of 0.9865 is expected with a following fall to 0.9820 or possibly 0.9790.

Forex Fundamental overview

Time EST

7:00am CAD Employment Change => High Impact Expected. Forecast = 3.0K. Actual higher than that leads to stronger CAD, lower - weaker.

8:30am USD Nonfarm Employment Change => High Impact Expected. Forecast = 25K. Actual higher than that - stronger USD, lower - weaker.

8:30am USD Unemployment Rate => High Impact Expected. Forecast = 5.0%. Actual higher than that leads to weaker USD, lower - stronger.

Profitable Friday in Forex! Watch Nonfarm employment figures closely. Protect your position if needed.

This entry was posted on Friday, March 7th, 2008 at 3:42 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.