Forex signals update Nov 06-2007

Forex Fundamental overview

10:00 am EST Ivey PMI (CAD)
5:30 pm EST Interest Rate Statement (AUD)
7:30 pm EST Home Loans m/m (AUD)

Forex technical analysis

EUR-USD => At support level 1.4456 / 1.4433 expect a move up towards 1.4515 followed by a downside correction.

GBP-USD => Support at 2.0795 area should hold for a move up towards 2.0940. Breaking below 2.0716 sets bears mode.

USD-CHF => Support at 1.1497 area should hold allowing a rise to 1.1561 / 1.1584.

USD-JPY => Support at 114.09 level should hold making a ground for upward move to 114.90 / 115.25.

EUR-JPY => Possible attempt lower to 164.94 will be followed by move up to 166.14. Later again - downtrend.

EUR-GBP => Downside direction will change recent uptrend and dips will see price at 0.6938 / 0.6923. Rising above 0.6981 will be in support of buyers.

EUR-CHF => Preferred outlook is for a test lower to 1.6663 or even 1.6633. Breaking above 1.6718 returns bulls in play.
AUD-USD => We will most like observe consolidation between 0.9167 and 0.9266 for some time.

USD-CAD => Resistance at 0.9333 - 0.9337 if holds will provide a way down to 0.9322, later a correction up to 0.9352 is expected.

This entry was posted on Tuesday, November 6th, 2007 at 6:24 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.

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