FX Forecasts for WEDNESDAY - AUGUST 1st

From: Max McKegg - Technical Research Limited
Date: Aug 1, 2007 11:59 AM
Subject: My LATEST FX Forecasts for AUGUST 1st
To: TRL

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My FX Forecasts for WEDNESDAY - AUGUST 1st

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 1st,1.3660 - The Euro's Uptrend has faltered & now risks sell-off
below 1.3610 to extend corrective decline to 1.3490 enroute mid 1.3200's
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*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* AUG.1st, 1.3685
Support /3650/3610/3490/ Euro correcting to targeted Suport around
** *** RESISTANCES *** ** the mid 1.3600s.A reversal would reassert
Resistance /3685/3700/3725/ advance.Otherwise risks 3610 enroute 3490
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. * EUROPEAN UPDATE * August 1st, 1.3660
Euro now testing mid 1.3600's But No Sign of RVSL,risking 3610,then 3490
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. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
JULY 23rd,121.70 - The Dollar's Uptrend has faltered & Resistance is now
around the 122.00 level to yield sell-off back to 118.00,enroute 115.50.
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*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* AUG.1st, 118.45
Support /1835/1800/1760/ Dollar met 119.50 target & resistance now
** *** RESISTANCES *** ** at 118.65-118.90 to yield sell-off below
Resistance /1855/1870/1890/ the Key 118.00 Suport level toward 116.80
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. * EUROPEAN UPDATE * August 1st, 118.40
Having tested 118.65/1890,looking for sell-off to 118.00,enroute 116.80.
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. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
JULY 30th,1.2085 - Whilst Resistance at 1.2100,2150 max.contains,looking
for test/break of Key 1960 Support to yield sell-off toward 1.1300 level
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*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* AUG.1st, 1.2015
Support /1990/1960/1925/ Dollar has sold-off well & Resistance now
** *** RESISTANCES *** ** at 1.2025/2040 for sell-off to Key 1.1960
Resistance /2025/2040/2065/ once this broken targets decline twd 1890
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. * EUROPEAN UPDATE * August 1st, 1.2005
Still looking for a test/Break of Key 1.1960 to yield decline twd 1.1890
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. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 1st,2.0265 - Sterlings Uptrend has faltered & with Resistance now
around 2.0300,2.0350 max.corrective decline extends to 2.0000 and 1.9650
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*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* AUG.1st, 2.0300
Support /0225/0185/0130/ Sterling's met 2.0350 target & unless now
** *** RESISTANCES *** ** able to clear the mid 2.0300s,looking for
Resistance /0280/0295/0310/ sell-off toward Key 2.0185,enroute 2.0000
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. * EUROPEAN UPDATE * August 1st, 2.0265
Resistance now at 2.0280/0310 to yield decline toward Key 2.0185 & BELOW
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. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 1st,.8510 - Ozzy's corrective sell-off persists & with Resistance
now at .8540,.8565 max.looking for decline toward .8370 enroute to .8200
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*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* AUG.1st , .8515
Support /8490/8465/8400/ The Ozzy's sell-off proving greater than
** *** RESISTANCES *** ** expected & with Resistance now at 8520/40
Resistance /8520/8540/8565/ argues for decline below 8465 toward 8370
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. * EUROPEAN UPDATE * August 1st, .8510
Selling Ozzy (Stop above .8540) for sell-off to .8465,then targets .8370
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. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 1st,.7600 - Kiwi's corrective sell-off persists & with Resistance
now at .7625,.7650 max.looking for decline toward .7400 enroute to .7175
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*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* AUG.1st , .7600
Support /7550/7500/7460/ The Kiwi's sell-off proving greater than
** *** RESISTANCES *** ** expected & with Resistance now at 7610/25
Resistance /7610/7625/7680/ argues for decline below 7550 toward 7400
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. * EUROPEAN UPDATE * August 1st, .7600
Selling Kiwi (Stop above .7625) for sell-off to .7550,then .7460 & .7400
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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.