Forex Daily Forecasts - Friday, Oct 12nd
From: Max McKegg - Technical Research Limited
Date: Oct 12, 2007 11:10 AM
Subject: My LATEST FX Forecasts for OCTOBER 12th
To: TRL
My FX Forecasts for FRIDAY - OCTOBER 12th
. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
October 9th,1.4050 - Euro has rallied nicely & support is now around the
1.4000 level for a resumption of Uptrend toward my next Target of 1.4570
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** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 12th, 1.4205
Support /4155/4130/4100/ The Euros rallied nicely but waning upside
** *** RESISTANCES ** ** momentum is cautioning risk of correction
Resistance /4210/4240/4280/ toward Support around the 1.4100 lvl Today
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.
Still looking for a corrective sell-off back to around the 1.4100 level.
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. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
October 12th,1.1810 - Dollar has sold-off well and resistance next found
around the 1.2000 level to yield a resumption of Downtrend toward 1.1550
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** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 12th, 1.1810
Support /1800/1775/1725/
** *** RESISTANCES ** ** today holding Support at 1.1800/1.1775 area
Resistance /1835/1850/1895/ yields recovery onto 1.1900,enroute 1.2000.
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.
Still looking for advance beyond 118.35/1850 Resistance - toward 1.1900+
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. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
September 27th,115.45 - Dollar's consolidation persists & whilst holding
Support at 114.00 yields advance beyond 116.40 Resistance toward 120.00+
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*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 12th, 117.30
Support /1720/1700/1665/
** *** RESISTANCES *** ** to yield an exhaustive sell-off to around
Resistance /1750/1780/1820/ the mid 116.00's - before Uptrend resumes
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.
Still risks exhaustive fall twd 116.65,116.40 max.Then Buying,for 118.50
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. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
September 24th,2.0210 - Sterlings Uptrend remains in force & support now
found at 2.0150/2.0075 for next advance beyond Key 2.0650 toward 2.1000+
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*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.12th, 2.0340
Support /0280/0255/0200/
** *** RESISTANCES *** ** persists & resistance now at 2.0360/0390,
Resistance /0340/0360/0390/ with risk for sell-off back toward 2.0200
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.
Sterling still risks deeper sell-off today back toward the 2.0200 level.
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. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.8675 - Ozzys Uptrend developing well & Support now about
the 8600 level for advance onto .9130,enroute to 9500 over coming months
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*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 12th, .9010
Support /8985/8945/8910/
** *** RESISTANCES *** ** around .9030,.9060 max.contains cautions
Resistance /9025/9035/9060/ risks of correction back toward .8900 lvl
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.
Waiting for better Buying levels,with risk of a correction toward .8900.
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. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.7435 - Kiwis Uptrend developing well & Support now about
the mid .7300's for advance onto .7730,enroute .8100 over coming months.
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*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 12th, .7705
Support /7670/7615/7590/
** *** RESISTANCES *** ** Until .7730/7750 Resistance cleared risks
Resistance /7730/7745/7800/ corrective sell-off back toward .7600 lvl
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.
Will Sell any Break of .7670 (20pt Stop) for sell-off to .7620,even 7590
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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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