FX Forecasts for TUESDAY - AUGUST 7th
From: Max McKegg - Technical Research Limited <max.mckegg@trl.co.nz>
Date: Aug 7, 2007 6:03 AM
Subject: My FX Forecasts for TUESDAY - AUGUST 7th
To: TRL <max.mckegg@trl.co.nz>
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My FX Forecasts for TUESDAY - AUGUST 7th
. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 2nd,1.3675 - Euro's undergoing complex corection & whilst holding
Support about the mid 1.3600's yields rally back toward the 1.3850 level
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*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* August 7th, 1.3795
Support /3785/3770/3725/
** *** RESISTANCES *** ** at 1.3785/1.3770 & looking for resumption
Resistance /3820/3840/3875/ of Euro's advance toward the 1.3900 level
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.
Buying Euro,Stop under 1.3780,for rally back toward 1.3840,enroute 3900.
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. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 7th,2.0320 - Sterlings complex correction persists.Resistance now
at 2.0390/2.0460 & whilst this contains,next sell-off targets 2.0000 lvl
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*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* August 7th, 2.0310
Support /0300/0280/0250/
** *** RESISTANCES *** ** and whilst holding 2.0300/2.0280 yields a
Resistance /0325/0365/0390/ recovery toward the 2.0390 Resistance lvl
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.
Buying Sterling (Stop under 2.0280) for recovery back toward 2.0390 lvl.
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. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
AUGUST 7th,118.80 - Until Support at 118.00/117.20 is broken,looking for
corrective recovery back toward 121.00/121.50 Resistance before Reversal
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*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* August 7th, 118.80
Support /1865/1850/1820/
** *** RESISTANCES *** ** & Support around mid 118.00's,118.20 max.
Resistance /1910/1935/1950/ for recovery toward 119.50,enroute 120.00
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.
Whilst holding 118.50,118.20 max.looking for rally onto he mid 119.00's.
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. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
AUGUST 7th,118.80 - Having sold-off well,until 118.60/118.15 broken look
for a corrective recovery back toward Resistance around the mid 1.2100's
------------------------------
*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* August 7th, 1.1910
Support /1900/1880/1850/
** *** RESISTANCES *** ** and Support about 1.1900/1.1880 to yield
Resistance /1925/1950/1980/ advance toward the 1.1980 Resistance lvl.
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.
Whilst holding 1.1900/1.1880 looking for rally to 1.1950 enroute 1.1980.
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. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 6th,.8540 - Ozzy's undergoing a complex correction and whilst now
holding Support around the 8500 level,yields recovery back toward .8700+
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*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* August 7th, .8580
Support /8570/8550/8525/
** *** RESISTANCES *** ** 8570,.8550 max.to extend beyond 8600 onto
Resistance /8600/8640/8655/ .8650 enroute to .8700+ over coming days.
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.
Buying Ozzy,Stop under 8550,for rally beyond Key .8600 to the mid 8600's
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. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 6th,.7590 - The Kiwi's undergoing a complex correction and whilst
now finding Support about .7550/.7535,yields recovery back toward .7800+
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*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* August 7th, .7645
Support /7635/7620/7590/
** *** RESISTANCES *** ** 7635/7620 to extend toward Key .7700/7715
Resistance /7665/7700/7715/ Resistance
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.
Buying Kiwi,Stop under 7615,for rally back toward Key 7700/15 Resistance
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Disclaimer: Max McKegg & Technical Research Ltd accept no liability
for any loss or damage that may directly or indirectly result from
any advice, opinion, information or omission whether negligent or
otherwise, contained in this report.
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