FX Forecasts for WEDNESDAY - AUGUST 8th
From: Max McKegg - Technical Research Limited
Date: Aug 8, 2007 6:04 AM
Subject: My FX Forecasts for WEDNESDAY - AUGUST 8th
To: TRL
My FX Forecasts for WEDNESDAY - AUGUST 8th
. ** 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 8th, 1.3740
Support /3740/3715/3700/
** *** RESISTANCES *** ** around 1.3730,1.3700 max.to yield a rally
Resistance /3780/3815/3840/ back twd 3840.Else argues for retest 3610
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Indicators mixed and awaiting next clearing trading opportunity in Euro.
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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 8th, 118.80
Support /1870/1855/1840/
** *** RESISTANCES *** ** and Suport is now about 118.55/118.40 for
Resistance /1905/1935/1950/ the next advance toward the 120.00 level.
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Support around the mid 118.00's (Stops under 118.00) for rally to 120.00
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. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
AUGUST 7th,1.1910 - Having sold-off well,until 118.60/118.15 broken look
for a corrective recovery back toward Resistance around the mid 1.2100's
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*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* August 8th, 1.1975
Support /1950/1935/1910/ Dollar has rallied nicely to 1.1980 target
** *** RESISTANCES *** ** & support now around the mid 1.1900's for
Resistance /1985/2020/2035/ next leg of recovery toward 1.2035 & 2100.
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Support now 1.1950/1.1935 (Stop under 1.1910) for advance toward 1.2035+
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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 8th, 2.0215
Support /0185/0150/0135/
** *** RESISTANCES *** ** Key 2.0185 Support would herald next leg
Resistance /0235/0255/0280/ of decline toward 2.0135 - enroute 2.0000
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Selling any Break of 2.0185 (with a 20pt Stop) for decline toward 2.0135
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. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
AUGUST 6th,.8540 - Ozzy's undergoing a complex correction and whilst now
finding Support around the 8500 level,yields recovery back toward .8700+
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*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* August 8th, .8550
Support /8540/8515/8490/
** *** RESISTANCES *** ** & with Suport now around the .8540 level,
Resistance /8580/8600/8615/ looking for rally twd .8660,enroute 8700+
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Staying Bullish (Stop under .8515) for rally beyond .8600 toward .8660+
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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 8th, .7620
Support /7600/7580/7555/
** *** RESISTANCES *** ** and Support now found about 7600/7580 for
Resistance /7640/7665/7700/ the next advance above 7640/65 onto 7700+
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Kiwi now testing Support.Whilst holding above .7555,await RVSL for .7700
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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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