Forex Daily Forecasts - Monday, Oct 22nd
From: Max McKegg - Technical Research Limited
Date: Oct 22, 2007 11:24 AM
Subject: My LATEST FX Forecasts for OCTOBER 22nd
To: TRL
My FX Forecasts for MONDAY - OCTOBER 22nd
. ** 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 22nd, 1.4320
Support /4305/4285/4245/ Euro's rallied nicely and support probably
** *** RESISTANCES ** ** now found in late 1.4200's for resumption
Resistance /4335/4350/4380/ of Euro's Uptrend toward the 1.4500 level.
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Looking to Buy about 1.4290 (Stop under 1.4245) for rally toward 1.4500.
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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.22nd, 2.0500
Support /0470/0440/0415/
** *** RESISTANCES ** ** about 2.0470/2.0440 for the resumption of
Resistance /0520/0550/0590/ Uptrend twd the Key 2.0650 Resistance lvl
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Suport found around 2.0470 (Stop under 2.0430) for next rally twd 2.0650
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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 1.1900 level to yield a resumption of Downtrend toward 1.1450
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** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 22nd, 1.1650
Support /1620/1600/1540/ Dollar has sold-off well and resistance is
** *** RESISTANCES ** ** now at 1.1660/1.1700 to yield a resumption
Resistance /1660/1675/1700/ of Dollar's Downtrend twd the mid 1.1500's
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Resistance found at 1660/1700 for sell-off below 1620/1600 toward 1.1540
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. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
October 22nd,113.90 - Dollar's recovery has faltered & whilst resistance
at 115.70,116.30 max.contains yields sell-off to Key 111.60,then 109.00.
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*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 22nd, 113.90
Support /1365/1350/1325/
** *** RESISTANCES ** ** for recovery back twd 114.90,even 115.70.
Resistance /1420/1490/1570/ Loss of 113.50/113.25 targets Key 111.60.
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Support about 113.65/113.50 to enable a recovery toward the 114.90 level
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. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 22nd,.8890 - Aussie has rallied nicely toward my 9130 target But
threatens corrective sell-off below Key .8815 Support to the mid .8500's
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*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 22nd, .8890
Support /8865/8850/8815/ Whilst now holding Support at .8865/8850
** *** RESISTANCES ** ** opportunity for recovery twd mid .8900's
Resistance /8900/8930/8950/ Otherwise attempts Key .8815 lvl,already
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Will Sell any Break of .8850 & again below Key .8815 (with a 30pt Stop).
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. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 22nd,.7440 - Kiwi has rallied nicely to my 7730 target level But
threatens corrective sell-off below Key .7385 Support to the mid .7100's
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*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 22nd, .7435
Support /7420/7400/7385/ Whilst now holding Support at .7415/7385
** *** RESISTANCES ** ** opportunity for a recovery back twd 7500
Resistance /7460/7485/7500/ Else signals a sell-off to .7300 already
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Will Sell any Break of .7400 & again below Key .7385 (with a 30pt Stop).
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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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