Forex technical analysis

EUR-USD => Expecting a fall to 1.5136 with a help of resistance at 1.5180 - 1.5185. Breaking above 1.5232 will propel the pair further up.

GBP-USD => While 1.9860 - 1.9890 resists we should see lower prices to 1.9795 or even 1.9720. Breaking above 1.9930 will set uncertainty into bears success.

USD-CHF => Resistance at 1.0415 - 1.0450 at watch with another fall to 1.0315. Later expecting a recovery to 1.0470.

USD-JPY => While 103.30 offers support we should see upward progress towards 104.90. S/L is placed slightly below 102.75.
EUR-JPY => Support at 156.30 should hold allowing a rally to 157.65 and possibly 158.50.

EUR-GBP => While 0.7640 - 0.7650 level offers resistance we may see another fall towards 0.7620 zone. Breaking above 0.7670 calls buyers into action.

AUD-USD => Resistance at 0.9370 should hold allowing a sell off to 0.9300 and further to 0.9150.

USD-CAD => We should see some signs of consolidation between 0.9775 and 0.9925 levels.

GBP-JPY => The pair run 900 pips down non stop from the last resistance point at 214.00. Quite difficult to predict new support level that will stop this fall.

Forex Fundamental Overview
Time EST
4:30am GBP Manufacturing PMI => High Impact Expected. Forecast = 51.0, higher than that - stronger GBP, lower - weaker.
8:30am CAD GDP m/m => High Impact Expected. Forecast = -0.2%, higher than that - stronger CAD, lower - weaker.
10:00am USD ISM Manufacturing Index => High Impact Expected. Forecast = 48.0, higher than that - stronger USD, lower -weaker.
7:30pm AUD Retail Sales m/m => High Impact Expected. Forecast = 0.5%, higher than that - stronger AUD, lower - weaker.
10:30pm AUD Interest Rate Statement => High Impact Expected. Forecast = 7.25%, higher than that - stronger AUD, lower - weaker.

Profitable Forex trading!

This entry was posted on Monday, March 3rd, 2008 at 4:13 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.