FOREX-DD

Forex Daily Analysis & Technical Reports

2008-12-23T10:20:00.000Z

View RSS feed

Forex Trading Signals

2008-12-23T09:00:00.000Z

Forex Trading Signals. *Close/Stop as you need!

Forex Trading Success - 95% of Traders Lose Because They Don't Understand These Key Points!

2008-12-23T08:00:00.000Z

By Kelly Price

The paradox is - anyone can learn to trade successfully, as Forex trading success is a learned skill yet 95% of traders lose and they lose, because they don't understand these key points...Lets re state the fact 95% of traders lose money trading Forex - it's a big percentage and the reasons they lose, are because people use logic that helps them in everyday life and fail to understand why it causes losses in Forex trading.

Here are the reasons in no particular order of importance - there all important.

1. Trust an Expert

In plumbing, if you don't know how to fix a burst pipe, you get a plumber to do it for you. You pay X amount and you get a guaranteed result but this is not so in Forex. Most of the so called Forex Experts are anything but and cannot guarantee you a result and most sell there systems and advice because they can't make money themselves.

2. Forex Robot

Sounds nice and clever - putting technology to work to make you money, as in society technology advances have enriched our lives but the reality is technology doesn't help you win in Forex. Think about this...

50 years ago 95% of traders lost and the same ratio still lose today, despite all the advances in technology we have seen - it doesn't help but traders till fall for the ridiculous amount of Forex robots sold which are obviously going to lose because:

Most Forex Robots come with a track record based on paper, which is simulated backwards, knowing the closing prices. Trading becomes a lot harder when you have to trade not knowing where the price will go and the market teaches the users of these systems a hard lesson in the form on an equity wipe out

3. Effort and Cleverness Guarantees Success

Not so, hard work counts for nothing, only being right does and being clever? Won't give you an advantage, as trading is essentially simple and simple systems work best.

The Missing Ingredients for Success

From the above, it's obvious that normal traits that can lead you to success in society won't help you in Forex. There is however good news and it's the following:

Forex trading is all about keeping it simple in terms of method, taking responsibility for your destiny and trading with confidence and discipline based on inner understanding.

The real key is trading with discipline which comes from confidence and the right Forex education.

Discipline is the ability to execute your trading signals though periods of losses, keep them small and stay on track until you hit a home run. While discipline sounds easy, its not and any trader who fails normally lacks it.

Forex trading is a combination of a simple robust Forex trading strategy and the discipline to execute your strategy in line with the rules.

This has been the basis of trading success for decades and will never change. The fact is all traders have the potential to win but simply cannot get the right mindset and that's why they fail.

NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE

For free 2 x trading Pdf's, with 50 of pages of essential info on How to Trade Forex Successfully visit our website at: http://www.learncurrencytradingonline.com.

Forex Daily Analysis - Friday, June 6th

2008-06-06T08:09:00.010+01:00

Daily Forex Outlook: USD/JPY - By Karoll Financial House
The chart shows the movement started from 106.42. Nevertheless of the current sell-off of the dollar across the board, this movement looks like a flat correction which means that one move high above 106.42 is likely. However I do not want to enter long position at the moment because the movement started from 106.42 could turn out to be a complex corrective combination. With an eye on this I prefer to be neutral at the moment. >>

Dollar High Likely In Place - By DailyFX
A significant USD top is in place. The EURUSD is expected to exceed 1.5817 in the next few weeks and the GBPUSD is expected to exceed 1.9850 and probably test 2.02 by mid-July. Regarding the USDJPY (which we have admittedly been wrong on for some time now), we are just as frustrated as many of you probably are... on the bright side, this is often the individual psychology that attends significant turns. >>

Technical Market View - By FX Greece
AUD continues its consolidation above 0,9500, without any clear signs for its next move. Volatility should continue between 0,9500 and 0,9650 for the next days... >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar continued climbing against the Japanese Yen above the past key resistance at 105.60, and has now open potential of testing the new resistance level, the yesterday's top at 106.40. If the positive trend continues, next resistance further up is expected at 107.00, the break of which would open potential climb towards 107.80. In downward direction first support is yesterday's bottom at 105.20, followed by 104.40, and 103.00. >>

Elliott Wave and Fibonacci Predictions: USD/JPY - By Capital Forex Group
Hey traders. Price missed our entry yesterday on USD/JPY, so I jumped in after the retracement around 105,89 and booked 20 pips in the Sidney session. Ok, today we are expecting the most important number of the month, so I believe that everybody who are already involved are very nervous today. >>

Daily Technical Strategist - By FXTechstrategy
Having tumbled off the 1.5817 high to as low as 1.5364 low Thursday, EUR rose sharply higher off that intra day low to close the session at 1.5603.The pair looks to have begun a corrective recovery following the said decline and should now move towards the 1.5817 high, its May 27'08 high initially ahead of the 1.5895/I 5912 area, its Mar 31'08 high/April 10'08 high and then its YTD high at 1.6018. >>

Currency Technical Report - By FX Greece
Comment : Euro rallied yesterday after the ECB's chairman comments and managed to breach eas-ily the first resistance levels that indicated the reversal. Mr. Trichet said that there is potential for the bank to raise rates in the near future and that was something that the market didn't expect. >>

Currency Pair Daily Forecasts - By Finotec Group
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line but moving upwards. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction. Also, MA oscillators indicate a bullish cross on the short MA line. As seen on the chart there are two tops leading upwards to a bullish trend >>

Daily FX Report - By Varengold Bank
The EUR realised hefty gains against the USD and JPY after ECB chairman Trichet hold the interest rates steady at 4% but said that the European Central Bank is on high alert over the inflation and lots of policymakers support rising rates. Finally he added that the Governing Council could raise rates as soon as its July 3rd meeting occurs. The EUR/USD won 1,04% and rebounded the losses from Tuesday by a close at 1,5595. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound recovered partly against the US Dollar yesterday, rising from yesterday's bottom 1.9465, to today's top at 1.9605, which are the first support and resistance levels respectively for the currency couple today. GBP/USD tested 1.9600, which is 50% Fibonacci correction of the climb from 1.9370 to 1.9840. If the positive sentiment continues, next resistance is expected at 1.9730, followed by 1.9840. In downward direction next support level today is expected at 1.9400, followed by 1.9320. >>

Forex Technical Analysis - By DeltaStock Inc.
After European Central Bank President Jean-Claude Trichet surprised the market with an interest rate hike possibility next month, EUR/USD took off the recent lows at 1.5363 and sharply advanced to 1.5604. In our opinion this marks a beginning of a short-term uptrend towards 1.6017 and beyond, as we have stated in our Midterm Forex Outlook. Intraday next resistance lies at 1.5663 and support can be found above 1.5534. >>

Forex Depth Analysis: USD/JPY - By Finotec Group
Friday saw the 10yr JGB future slide in the Tokyo session as it took its cue from an overnight slide in US and euro zone bonds following the hawkish rhetoric by ECB President Trichet. The 5yr yield touched a 10 month high and ended the day 7bp higher than the previous day's close. >>

Daily Forex Analysis - By FOREXYARD
The Greenback experienced a mixed day in the trading market, seeing early day gains against major currencies like the JPY and CHF, and losses against the EUR and GBP. The oft traded EUR/USD cross saw a 200+ pip gain yesterday, on the heels of an apparent change in the outlook of Euro interest rates as well as fears over today's upcoming Non Farm Payroll figures from the US. >>

Forex Technical Update - By Rcpl Forex
Euro: Euro surged by 235 pips to touch 1.5600 mark (50% Retracement of the latest fall in daily) as Trichet indicated that ECB may be hawkish enough to hike in July. The 4-Hourly stochastic is overbought while the daily shows strong upmove. The pair is currently taking strong resistance of (21 daily EMA & 100 & 200 4-Hourly EMA and 50% retracement of the latest fall) and a firm break of this resistance will lead Euro to 1.5645 levels (61.80 retracement of the latest fall). (Eur/Usd-1.5582). >>

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
The Euro recovered its recent losses after a 240 points rally on yesterday following ECB president Trichet who said that an interest-rate hike in July is "possible". The surprising hawkish shift brings the elevated levels on EURUSD back in focus, at least for now. Although technically we are back into a neutral zone >>

Forex Technical Analytics - By FOREX Ltd
The pre-planned buyers' positions from the key support range have been realized with attainment of main assumed targets. Further realization of breakout variant for sales did not have any positive result within previous trading day but the relative rise of bearish activity at the break of key supports revealed by OsMA indicator is an argument to preserve short positions for further rate fall. At present taking into account the ascending direction of indicator chart, we assume a possibility of pair return to the nearest resistance range 1.0410/20 >>

Technical Analysis for Crosses - By Crown Forex
The Pound rose yesterday against the Yen inline with our expectations to acquire the 207.35 target, and today the pair is most likely to continue the bullish wave that targets the 208.52 and then the 209 levels, yet the momentum indicators are showing the pair is in need of a slight correction to gather further upside momentum on intraday basis and the 206.33 could provide a solid base for today as it offers good demand. >>

Technical Analysis for Major Currencies - By Crown Forex
The European currency supported by yesterday 's Trichet speech was able to break from that neutral area and climb above the ascending trend line again, which again gives the euro an edge in trading, and now we can initiate some new targets around 1.5950 if the euro maintained the same level of strength and the sound fundamentals in the up coming period. Today the possible target is around 1.5720 in light with the U.S. jobs report. >>

FX Technical Analysis - By Mizuho Corporate Bank
Comment: Bouncing even more smartly than we could have hoped for from the bottom of the Ichimoku 'cloud'. Today expect random small moves at these higher levels, probably between 1.5500 and 1.5625.
Strategy: Attempt longs at 1.5600 but only if prepared to add to 1.5500; stop below 1.5350. Short term target 1.5625, maybe 1.5700. >>

Technical Analysis Daily: EUR/USD - By iFOREX.bg
The Euro climbed significantly yesterday against the US Dollar from 1.5370 to 1.5603 when ECB's Trichet gave signals for a possible rate hike In July. The above are are the first resistance and support levels respectively for the currency couple today. If the positive trend continues, next resistance is expected at 1.5550, followed by 1.5625. In downward direction next support for today is expected at 1.5300, the break of which would lead to next target 1.5230. >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
Today's support: - 1.5547, 1.5518 and 1.5477(main), where correction is possible. Break would give 1.5452, where correction also may be. Then follows 1.5435. Break of the latter would result in 1.5393. If a strong impulse, we would see 1.5362. Continuation will give 1.5330 and 1.5302. >>

Daily Forex Market Commentary - By Global Forex Trading
The euro/dollar aggressively reversed from a three-week low after ECB President Trichet signaled a possible rise in euro zone interest rates as early as July. The dollar rallied against the yen, but gave up gains versus the pound and franc. Careful today, as the non-farm payrolls are due. If the ADP is of any significance, the report should not be that weak. >>

FX Technical Commentary - By Easy Forex
Euro 1.5590 - Initial support at 1.5366 (Jun 5 low) followed by 1.5288 (May 8 reaction low). Initial resistance is now located 1.5598 (Jun 5 High) at followed by 1.5628 (Jun 3 high).
Yen 105.90 - Initial support is located at 105.21 (June 5 low) followed by 104.54 (Jun 4 low). Initial resistance is now at 106.65 (Feb 28 high) followed by 107.44 (61.8% retracement of the 114.66 to 95.76). >>

Forex Daily Analysis - Thursday, June 5th

2008-06-05T08:24:00.009+01:00

Chart Of The Day: USD/CAD - By FX Solutions
6/05/2008 - USD/CAD - Within the current long-term downtrend channel on the USD/CAD daily chart, as shown, price has just reached a critical resistance level. The most recent upturn initiated last week has pushed price up against two significant resistance factors. The first factor is represented by the short-term descending channel (shown on the chart by the short parallel red lines). >>

Australian Dollar Crosses Consolidate - By DailyFX
If 1.0823 holds, then the count in black is valid. That count indicates that the AUDCHF is in wave C of a large correction that will eventually come under .8882. However, with price so close to breaching 1.0823, we are presenting the alternate (in red); which suggests that the advance from .8882 is wave B of a triangle. >>

Dollar Still Flexing...but Key Levels Well Defined - By DailyFX
The EURUSD has broken to multi-day lows but the larger bullish bias is valid as long as price is above 1.5283. The decline from 1.5817 is labeled as a W-X-Y (complex) correction. The minimum bullish objective is one pip above 1.5817. Even if a larger more complex correction is unfolding from 1.6018 (such as a flat or a triangle), price is still expected to exceed 1.5817. >>

Today's Market Outlook - By Windsor Brokers Ltd
Continues reversal from 1.5818, 27 May lower top, to nearly fully retrace 1.5285/1.5818 upleg. 1.5461 low was reached initially, with subsequent bounce being capped by 1.5828/26, ahead of sharp sell-off. Loss of 1.5461 and the recent 1.5410 low, has opened way for fresh weakness that reached 1.5365 today. Correction higher is underway, expected to leave a lower top below 1.5582 for fresh attempt towards 1.5285. Only sustained break above 1.5628 to improve the outlook. >>

FX Thoughts for the Day - By Kshitij Consultancy Services
Dollar-Swiss rose to once again test the crucial Resistance at 1.0520, but retreated from there. While that Resistance holds, there are at least 50% (possibly 60%) chances of a fall back towards 1.0435 and lower, later in the day. >>

Elliott Wave and Fibonacci Predictions: USD/JPY - By Capital Forex Group
We are in impulsive move from yesterday after huge wave (II) with 104,52 low. Right now we are 250 pips higher and you know what, I still see around 50 pips free space for todays prices. In the market we are always looking for supports and resistances, and if we also include EW counting to these points, then I believe that there are a lot of traders out there who would trade this possible move from 105,91 up to the end of the blue wave iii. >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar continued climbing against the Japanese Yen today, from yesterday's bottom at 104.57 to today's top 106.22, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance further up is expected at 107.00, the break of which would open potential climb towards 107.80. In downward direction next support for today is expected at 103.90, followed by 103.00. >>

Daily Technical Strategist - By FXTechstrategy
EUR maintained its current weakness Wednesday trading and closing lower at 1.5434.Risks continue to point to the downside as evidenced by its short term bearishness and declining daily studies suggesting a move towards the next downside objective at its May 08'08 low at 1.5283 is likely where a clean break will put the pair on the part to further lower prices towards its .50 Ret (1.4309-1.6018 high) at 1.5164. >>

Forex Technical Analytics - By FOREX Ltd
The assumed test of the key resistance range for realization of the pre-planned short positions has not been confirmed and further realization of breakout variant for short-term positions with the features of oversold factor because of chosen strategy is a negative moment for further preservation of these opened positions. >>

Currency Technical Report - By FX Greece
Comment : Euro keeps its downtrend making new lows during Asia Session, breaking the area of 1.5400 (low 1.5385). Very important news releases are expected today and high volatility is possible.
The targets we had set were in the area of 1.5350-00 and after yesterday's lows, they are being reached. We remain cautious regarding the move resumption to lower levels than the 1.5330-50 area, and we wait for reversal signs. >>

Forex Technical Analysis - By DeltaStock Inc.
As expected, the pair reached an intraday high at 1.5482, finalizing the consolidation above 1.5411 and renewed the downtrend, aiming at 1.5283. Allow some choppy trading below 1.5482 before ECB releases its interest rate decision, today at 07:45 NYT. >>

Forex Depth Analysis: EUR/JPY - By Finotec Group
The dollar hit a three-month high against the yen on Thursday, supported by comments from Federal Reserve Chief Ben Bernanke who emphasized inflation concerns the previous day.
The comments coupled with stronger than expected U.S. services and jobs data have helped bolster the currency and helped lift risk appetite which undermines the yen, a popular destination for the carry trade. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound continued its short term descending against the US Dollar from yesterday's top at 1.9638, to today's bottom at 1.9492, which are the first resistance and support levels respectively for the currency couple today. GBP/USD overcame 1.9600, which is 50% Fibonacci correction of the climb from 1.9370 to 1.9840. If the negative sentiment continues, next support is expected at 1.9400, followed by 1.9320. In upward direction next resistance level today is expected at 1.9730, followed by 1.9840. >>

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
The dollar holds firm across the board on yesterday and minor Euro rallies of 30-50 points have met fast offers so it failed to approach the more decent selling regions above the 1.55 mark. Bearish structure of short-term studies is encouraging further decline towards the mid-term support zone at 1.5345 formed by an upward trendline then the fib support at 1.5230. >>

Technical Analysis Daily: EUR/USD - By iFOREX.bg
The Euro continued descending insignificantly yesterday against the US Dollar from 1.5477 to 1.5385, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5300, followed by 1.5230. In upward direction next resistance for today is expected at 1.5550, the break of which would lead to next target 1.5625. >>

Technical Analysis for Crosses - By Crown Forex
The Pound declined slightly against the yen yesterday yet the pair managed to close above the 38.2% correctional level at 205.68 and is trading around this level now, the pair must consolidate for a while before start rising noticeably, since the momentum indicators are showing the pair needs a slight correction on intraday basis in order to successfully breach the 206.15 resistance level which would lead the pair up to the 207.35 at least, while the point at 204.53 offers strong demand for the pair should the 205.68 be breached. >>

Pro FX Commentary: EURUSD - By Global Forex Trading
We have seen the decline to the 76.4% retracement at 1.5409 perfectly and this now provides the next test as to whether we are seeing a triangle within a larger consolidation or whether we could see a move all the way down to 1.5283 again in a possible flat correction. I can't even rule out loses beyond should the 1.5817 high have been Wave (b). >>

Technical Analysis for Major Currencies - By Crown Forex
The European currency is still in a neutral territory waiting for either the 1.5380 or the 1.5535 to get breached and define a trend for the currency, while technical indicators are also giving mixed up signals the short term to intermediate trend remains vague, waiting for confirmation to initiate any new targets, yet for today and as the currency is on a major support at 1.5380 and it is way over sold we can say there is a potential for a slight upside movement. >>

British Pound Crosses: Watch For Bullish Reversals - By DailyFX
The GBPCHF remains entrenched in a 4th wave correction that will probably complete as a triangle. The rally from 1.9421 to 2.0963 is in 3 waves and would be wave A of the triangle. Wave B is underway now and will likely end near 1.97/99. In summary, expect the GBPCHF to range for the next few months. Beware though that we do expect a new low (below 1.9421) in a 5th wave (which could happen without a triangle unfolding). >>

Forex Daily Analysis - Wednesday, June 4th

2008-06-04T15:57:00.003+01:00

Today's Market Outlook - By Windsor Brokers Ltd
Extended the correction from 1.5285 to reach 1.5814/18 on 22/27 May, ahead of decline to 1.5461 on 30 May. Recovery attempt from there was capped by 1.5626/28, followed by sharp decline yesterday. 1.5410 low was reached, retracing over 61.8% of the 1.5285/1.5418 ascend. Consolidation is underway, seeking for lower top by 1.5520/50, before bears resume and break below 1.5410 to expose 1.5396/66, possibly 1.5312/1.5285. Only regain of 1.5600/25 will improve the outlook. >>

US Dollar Spike is a Trap - DailyFX
The market threw a curveball yesterday. The EURUSD broke below 1.5461 but the larger bullish bias is still valid as long as price is above 1.5283. The decline from 1.5817 is relabeled as a W-X-Y (complex) correction. The minimum bullish objective is one pip above 1.5817. "Even if a larger more complex correction is unfolding from 1.6018 (such as a flat or a triangle), price is still expected to exceed 1.5817." >>

FX Thoughts for the Day - By Kshitij Consultancy Services
As suggested in the morning, the market appears to be ranged between 1.0320-0520 for the next few days. This range may be expanded to 1.0290-0520 to allow for some intra-day spikes and volatility. Below 1.0290 on the downside, the major Support to watch would be 1.0216, the low seen on 23-May. >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar recovered yesterday against the Japanese Yen after the sharp drop, and rose from 103.91 to 105.53, which are the first support and resistance levels respectively for the currency couple today. If the negative trend deepens, next support further down is expected at 103.00, the break of which would open potential drop towards 102.20. First resistance upwards is yesterday's top at 105.50, followed by 106.30, and 107.20. >>

Forex Daily Analysis - Tuesday, June 3nd

2008-06-03T09:17:00.006+01:00

US Dollar Bear Trend Resumes - By DailyFX
The EURUSD and GBPUSD are breaking higher from their respective bases that had formed over the past few days. Both pairs are in the early stages of larger bull moves. The USDJPY downtrend has resumed and are preferred count has the pair coming under 95.72 with 1.0586 remaining intact. The only currency that is expected to weaken against the US dollar in the coming days/weeks is the CAD. >>

Elliott Wave and Fibonacci Predictions: EUR/USD - By Capital Forex Group
Hey traders, did you booked profit on EUR/USD or what, I hope you did. My orders have been reached almost to the last the pip, so I exit after 50 pips move, in the wave (c) we could say. However, I didn't go short after this move up, price missed my orders for 16 pips. But I am very calm right know, cause it looks like the bulls are not over yet. >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar deepened its downward trend today against the Japanese Yen, reaching 103.90, which is are the first support level for the currency couple today, and also 61.5% correction of the descent 108.50 - 103.10. If the negative trend deepens, next support further down is expected at 103.00, the break of which would open potential drop towards 102.20. First resistance upwards is yesterday's top at 105.50, followed by 106.30, and 107.20. >>

Daily Technical Strategist - By FXTechstrategy
EUR was seen recovering from its decline off the 1.5818 high in early trading today. While prices continue to trade below the 1.5817 level the odds of a resumption of its short term weakness remains exposing the 1.5510 level, its April 03'08 low ahead of the 1.5360/41 area, its May 02'08/Mar 24'08 lows/.382 Ret (1.4438-1.6018 rally) with a loss of there if seen driving prices lower towards its May 08'08 low at 1.5283. >>

Today's Market Outlook - By Windsor Brokers Ltd
Gains from 1.5285, 08 May low were capped by 1.5814/18, 22/27 May highs. Reversal from there reached 1.5461 on 30 May, marking over 61.8% retracement of the 1.5285/1.5818 upleg. Bounce higher was followed by consolidation phase above 1.5487/1.5520 support, with the latest push higher having cleared 1.5607 resistance and extending to 1.5628 so far. This averts immediate fears of fresh slide below 1.5461 and turns focus towards 1.5660/67 instead. >>

Daily Forex Analysis - By FOREXYARD
Yesterday the greenback experimented with high volatility as it opened the trading day with a bullish trend against the Euro after the release of the ISM Manufacturing Index saw a positive improvement of 49.6 in May. The Manufacturing indices sent the EUR/USD pair down to as low as 1.5487 from 1.5513. However the USD rally didn't last much longer as several hours later the Euro experienced >>

Currency Technical Report - By FX Greece
Comment : Euro consolidated as it remained within the ranges we had set in our yesterday's analysis. There are not much to add, as the trend remains bearish and first important resistance is found at 1.5590-5620. >>

Currency Pair Daily Forecasts - By Finotec Group
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend, although slightly over sold according to Bollinger. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound descended significantly against the US Dollar yesterday from 1.9817, broke the past support level at 1.9645 and went down to 1.9600, which are the first resistance and support levels respectively for the currency couple today. But today the GBP/USD forms a recovery trend from yesterday's losses. If the negative sentiment continues, next support is expected at 1.9540, followed by 1.9480. In upward direction next resistance level today is expected at 1.9850, followed by 1.9930. >>

Daily FX Report - By Varengold Bank
The surging oil price drove the Swiss consumer price inflation to a 14 ½ year high in May about 0,8% in relation to April which makes an annual inflation rate of 2,9%. That leaves the SNB without leeway to cut interest rates soon. The USD/CHF reacted with a loss of 0,49% at 1,0371 at closing and the session low at 1,0323. >>

Forex Technical Analysis - By DeltaStock Inc.
Still in the broad consolidation above the local bottom at 1.5459. Although the minimum price requirement was filled with yesterday's 1.5591 we will expect further advance towards 1.5637 before completion of the current correction and renewing of the downtrend towards 1.5283. >>

Forex Depth Analysis: GBP/USD - By Finotec Group
Sterling headed for its biggest daily fall against the dollar in a month on Monday, hit by a slowing housing market, a manufacturing sector on the brink of contraction and a profit warning from a major mortgage lender. >>

Forex Technical Analytics - By FOREX Ltd
The pre-planned breakout variant for sales has been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked the advantage of bearish activity at the break of key supports gives support to priority of bearish planning for today. Hence we assume a possibility of pair return to the nearest resistance range 1.9650/70, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.9590/1.9610, 1.9520/40 and/or further breakout variant up to 1.9440/60, 1.9380/1.9400. An alternative for buyers will be above 1.9720 with the targets 1.9760/80, 1.9820/40. >>

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
The 61.8% retracement of the recent 1.5285-1.5819 swing at 1.5488 remained intact and provided an intra-day reversal, the Euro catching a bid since the dollar failed to drag it lower towards the mid 1.54 zone on yesterday. The Euro rally doesn't suggest much as the pair failed to close higher on yesterday. Short term sentiment remains unchanged while the range of 1.5485-1.5615 is valid. An intra-day upward channel is formed on the hourly charts by the previous 2 days highs and lows. More ranging action is likely to be seen while the market is looking for direction. Downside bias favors selling on rallies while a potential break on the upside past 1.5640 would resume the uptrend and we will focus towards the 1.58 zone once again. Current quote is 1.5555 @06:30 GMT >>

Technical Analysis for Crosses - By Crown Forex
The Pound declined against the Yen yesterday to break through the short term upside channel but the pair is still trading within the medium term ascending channel, the momentum indicators are showing that the pair is being traded within an oversold area on intraday basis and once the correction is over we should witness an upside reversal, the level at 203.79 represented by the 50 days moving average could prove to be a good demand, while strong support can be seen around 202.90 the support level for the medium term upside channel. >>

FX Technical Analysis - By Mizuho Corporate Bank
Comment: Difficult as we trade in a small range roughly in the middle of the range since March. Expect more of the same today. Rallies will probably be capped by the very large Ichimoku 'cloud'. Intermediate highs and lows will be hard to spot. >>

Technical Analysis for Major Currencies - By Crown Forex
The European currency has turned positive today closing above 1.5520 yesterday and bypassing the 1.5540 level since the early morning, technical indicators are pointing higher as well, as the currency remains above the major trend line and consolidates above the retracement points, it looks like we are going to see another trial on the upside targets maybe this time the currency will be able to break through.

Technical Analysis Daily: EUR/USD - By iFOREX.bg
The Euro traded within the 1.5496 - 1.5578 range yesterday against the US Dollar, which are the first support and resistance levels for the currency couple today. If the negative trend continues, next support is expected at 1.5400, followed by 1.5330. In upward direction next resistance for today is expected at 1.5660, the break of which would lead to next target 1.5750. >>

Forex Technical Update - By Rcpl Forex
Euro: Euro surged by 103 from the day's low of 1.5486 to touch an intraday high of 1.5489 before closing lower at 1.5536. The daily stochastic is close to the oversold region while the 4-Hourly hourly shows a downmove. Look for opportunities to long at 1.5490 levels (61.8% Retracement of the latest rise) for an intraday gain of 50 pips.(Eur/Usd-1.5533). >>

Pro FX Commentary: EURJPY - By Global Forex Trading
The wave structure remained very messy but the low at 163.07 was a 38.2% expansion of the recovery from 163.29 to 164.21 and the recovery back to this high argues for an expanded flat which means we should now see losses. >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
Today's support: - 1.5514, 1.5483, 1.5465 and 1.5432(main), where correction is possible. Break would give 1.5413, where correction also may be. Then follows 1.5389. Break of the latter would result in 1.5364. If a strong impulse, we would see 1.5322. Continuation will give 1.5305 and 1.5284. >>

Daily Technical Analysis - By FX Instructor
After bottomed at 1.5486, the EURUSD made an upside movement and topped at 1.5588 yesterday. However, my bearish hourly channel is still valid, so my model remains short targeting 1.5450. Immediate support seen at 1.5486 (yesterday's low). Initial resistance at 1.5600. CCI in neutral area on daily chart. >>

Daily Forex Market Commentary - By Global Forex Trading
The dollar had a choppy day of trading on Monday, as the Standard and Poor's downgrading of 3 major US investment banks triggered long liquidation in carry trades. Dollar fell sharply against the yen, less against the Swiss, but rallied against the weak pound. Expect more consolidation today. >>

FX Technical Commentary - By Easy Forex
Euro 1.5545 - Initial support at 1.5462 (May 30 low) followed by 1.5410 (May 6 resistance). Initial resistance is now located 1.5589 (Jun 2 High) at followed by 1.5669 (May 29 high).
Yen 104.50 - Initial support is located at 104.02 (June 2 low) followed by 103.89 (May 28 low). Initial resistance is now at 105.54 (June 2 high) followed by 105.88 (May 29 high). >>

Forex Daily Analysis - Monday, June 2nd

2008-06-02T07:52:00.010+01:00

Elliott Wave and Fibonacci Predictions: EUR/USD - By Capital Forex Group
Hey traders, new week is here and market is already moving like crazy, especially this GBP/JPY dropped for around 250 pips in just a few hours. Ok, as you already know, prices missed my last position from Friday on EUR/GBP for a five pips. However, I removed my orders after this, because it was Friday and you never now about this gap thing in new week. So, I will slow down with my trades on this pair and give to the market sometime to develop how it wants. Right now I am more focused on EUR/USD, so let's see what we have... >>

Currency Technical Report - By FX Greece
Comment : In the last day of the week and the month, euro accelerated from the area of 1.5450 keeping, however, the downward trend that was formed after the tops of 1.5800-20. The risk of a further move resumption to the base of 1.5350-00 is not over and euro's reaction to the first resistance levels that form the trend, will give the first signs. >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar made an insignificant descent today against the Japanese Yen, from 105.50 to 104.66, which are which are the first resistance and support levels respectively for the currency couple today. If the negative trend deepens, next support further down is expected at the lower limit of the consolidation at 103.70, the break of which would open potential drop towards 103.00. Next resistance upwards is given at the 106.50 level, followed by 107.30. >>

Today's Market Outlook - By Windsor Brokers Ltd
Bounced off 1.5285, 08 May low, to reach 1.5814/18 highs on 22/27 May, retracing over 61.8% of the 1.6020/1.5285 decline. Fresh weakness followed, with break below 1.5692 support, marking top. Losses so far reached 1.5461 on 30 May, ahead of recovery attempt, with gains being so far capped by 1.5569/68. If the later remains intact, this will mark lower top for fresh attempt towards 1.5461. Clearance of 1.5569, however, would confirm today's 1.5514 as a higher low, ahead of fresh push higher to target 1.5607/61 instead. >>

Forex Technical Analytics - By FOREX Ltd
The assumed test of the key resistance range has been confirmed at the end of trading day but the relative rise of bullish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned short positions. At present evaluating the situation as an uncertain one concerning a choice of planning priorities by features of relative activity strengthening of both parties, we assume a possibility of pair return to supports 1.9680/1.9700, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 1.9740/60, 1.9820/40 and/or further breakout variant up to 1.9880/1.9900, 1.9960/80, 2.0000/20. An alternative for sales will be below 1.9640 with the targets 1.9580/1.9600, 1.9520/40. >>

Currency Pair Daily Forecasts - By Finotec Group
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend, although slightly over sold according to Bollinger on the 30th of May. >>

Daily Forex Analysis - By FOREXYARD
A batch of disappointing economic data left the greenback in bearish territory on Friday to end what had been a positive week for the USD. Amidst an already shaky US economic outlook, personal consumer spending indices showed a slowdown in April as both income and spending numbers came in at 0.2%. The drop in consumption numbers left some investors worried that the US is a long way from the recovery that has been mentioned for the last month or so. Combined with rising food and oil prices, and the abysmal housing market, a poor showing from the University of Michigan Consumer Sentiment report, listed at its lowest mark in 28 years resulted in a correction of the weeks bullish dollar trend. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound descended significantly against the US Dollar today from 1.9817, broke the past support level at 1.9645 and went down to 1.9600, which are the first resistance and support levels respectively for the currency couple today. If the negative sentiment continues, next support is expected at 1.9540, followed by 1.9480. In upward direction next resistance level today is expected at 1.9930, followed by 2.0000. >>

Daily FX Report - By Varengold Bank
The retail sales in Australia fell 0,2% in April while the market expected an increase. The AUD closed against the USD with a loss 0,5% at 0,9525 after hitting a low of 0,9517. Moreover, the TD Securities - Melbourne Institute reports that the monthly inflation rose 0,3% in May so the annual inflation rate grew to 4,5% which is an 5 year high. >>

Forex Technical Analysis - By DeltaStock Inc.
The pair has set a local top at 1.5818 completing the rise from 1.5283. Technical indicators are neutral. The 50- day SMA is currently projected at 1.5663.
Finally the pair has reached a local bottom at 1.5459, few pips above the 1.5448 support and finalized the slide from 1.5761. The corrective rebound from that level is targeting 1.5591 and probably 1.5607 before renewing the downtrend to 1.5283 and 1.5211. >>

Forex Technical Update - By Rcpl Forex
Pound: Pound traded in arrange of 139 pips on Friday to surge to a high of 1.9822 before closing at 1.9807. The hourly stochastic show an upmove while daily and 4-hrly stochastic still showing selling pressure. Immediate resistance comes in at 1.9755 (55 4-Hourly & 100 Hourly EMA) Look for opportunities to short at those levels (Gbp/Usd- 1.9698). >>

Technical Analysis for Crosses - By Crown Forex
The Pound started to decline against the Yen after the pair gained last week heavily to close near the target at 208.96, yet the drop took the pair into an oversold area according to the momentum indicators over intraday basis and that suggests we should see a slight upside wave before the pair drops back to continue its correctional wave which might take it to the 205.68 if the pair remains trading below the 207.74. >>

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
Short term sentiment remains mixed although the Euro has found support on the 61.8% retracement of the 1.5285-1.5820 move at 1.5490. While below 1.5615, there are chances of a re-test of the downside support zone at 1.5490 then lower at 1.5430-50. Intra-day momentum is bearish at the time of this report. Current quote is 1.5521 @06:28 GMT >>

Technical Analysis for Major Currencies - By Crown Forex
The European currency opened this way in a somehow neutral territory with 1.5520-00 stand as the major support for the pair, the currency if managed to climb from here will build a double top on the weekly chart and will start achieving its targets. While technical indicators are pointing higher the movement of the currency today still vague as waiting for a retrieval from 1.5520. >>

FX Technical Analysis - By Mizuho Corporate Bank
Comment: A tiny 'spike low' at 1.5461 Friday suggests we shall consolidate above here today and maybe much of this week. Rallies will probably be capped by the very large Ichimoku 'cloud'. Intermediate highs and lows will be hard to spot. >>

Technical Analysis Daily: EUR/USD - By iFOREX.bg
Because of the several good news supporting the US Dollar, the Euro descended significantly against the US Dollar on Friday, from 1.5538 to 1.5466, than recovered to 1.5561. First support for the currency couple today is expected at Friday's bottom at 1.5465. If the negative trend continues, next support is expected at 1.5400, followed by 1.5330. In upward direction first resistance for today is expected at this morning's top 1.5675, the break of which would lead to next target 1.5750, followed by 1.5815. >>

Pro FX Commentary: AUDUSD - By Global Forex Trading
This morning has seen a second test lower and we therefore need a break back above the 0.9560-80 pivot region. If this occurs then look for 0.9636 being the prior Wave b and which could produce a small reaction. Above means we should watch the 66.7% Wave -v- target at 0.9666 and the 76.4% projection at 0.9720. >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
Today's support: - 1.9726 and 1.9710(main), where correction may happen. Break would present 1.9687, where a correction may also be. Then 1.9650. If a strong impulse, we would see 1.9628. Continuation will give 1.9615. >>

Daily Technical Analysis - By FX Instructor
The Euro made a recovery against Dollar on Friday. After bottomed at 1.5462, the pair hit new high of the day, topped at 1.5567 and closed at 1.5554. However, my model remains short targeting 1.5450 area. Immediate resistance seen at 1.5570. CCI in neutral area on daily chart. >>

FX Technical Commentary - By Easy Forex
Euro 1.5555 - Initial support at 1.5462 (May 30 low) followed by 1.5410 (May 6 resistance). Initial resistance is now located 1.5669 (May 29 High) at followed by 1.5761 (May 28 high).
Yen 105.50 - Initial support is located at 104.61 (May 29 low) followed by 103.89 (May 28 low). Initial resistance is now at 105.88 (May 29 high) followed by 106.65 (Feb 28 high). >>

Daily Forex Market Commentary - By Global Forex Trading
The dollar has a down day on Friday versus the European currencies, but only consolidated against the independent yen. I don't expect the start of a new direction on the first day of June, so consolidation should prevail.
Euro/dollar >>

Forex Daily Analysis - Friday, May 30th

2008-05-30T10:31:00.007+01:00

Daily Forex Outlook: USD/JPY - By Karoll Financial House
I think that the last week's movement was a bullish triangle in the position of wave B and the current rise is wave C. The reached high 105.86 already fulfilled the minimum requirement for the length of wave C but I am still not sure that there will be no more highs because of the corrective retreat from 105.86. A possible resistance level is 107.00 while the support level is 104.10. I prefer to be currently neutral but I will look for an entry level for a short position next week. >>

FX Thoughts for the Day - By Kshitij Consultancy Services
Decent Support at 1.9695 on the 4-hour chart. While this holds, the Pound could move back up towards 1.9869, the projected Max High on the Daily Chart. A fall below 1.9695 can test 1.9670, possibly 1.9645. >>

Elliott Wave and Fibonacci Predictions: EUR/GBP - By Capital Forex Group
Hey, I am back, I have a 4h chart for EUR/USD, and to be honest, I am a little worried about this short trade on EUR/GBP, so I will not jump in with 1 but only with 1/3 of the position... Ok, the next possible move on EUR/USD is 1,5600, so I will definitely look for short trades in this zone... we are waiting on wave II of big blue C, somewhere between 38,2% and 50% of wave I... >>

British Pound Holding Critical Support - By DailyFX
From a technical point of view, the focus is on the GBPUSD this morning. The pair has held above yesterday's low at 1.9673 and mabe forming a triple bottoms of sorts that will lead to a break above 1.9850. >>

Daily Technical Strategist - By FXTechstrategy
EUR could be heading for a fourth day of consecutive downside losses having weakened and closed lower Thursday extending its decline off the 1.5817 high(May 27'08 high).While the pair was seen testing the 1.5460 low and trading below the 1.5510 level, its April 03'08 low in early morning today, >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
Although the positive trend for the US Dollar against the Japanese Yen has renewed, the test of the 105.80 resistance level puts the currency couple in neutral position within the consolidation channel. Next resistance upwards is given at the 106.70 level, followed by 107.70. First support for today is expected at yesterday's bottom 105.55. Next support further down is expected at the lower limit of the consolidation at 103.60, the break of which would open potential drop towards 102.90. >>

Currency Technical Report - By FX Greece
TRADING EUR/USD : Our strategy yesterday proved correct, as the lower targets we had set were reached. Today we remain bearish, trying sell positions at any retracement towards 1.5550-60 area with close stops and first target the previous lows, followed by the area of 1.5440. >>

Elliott Wave and Fibonacci Predictions: EUR/GBP - By Capital Forex Group
Hey money makers, I am very early today to inform you about my next trade on EUR/GBP. Looks like we have a flat correction in wave (iv), especially cause we have a 3 wave move in wave a and new lows with wave b, so now I am expecting five wave move up to make this flat complete…My short orders will be from 0,7878 – 0,7890 with only half of the positions, with stops above black wave iv…after 15 pips move will trail my stops to entry zone with next target at current lows. If you have any thoughts to trade this one, then I also suggest to turn on CNBC channel, cause as you know we have a lot of news today, which could turn market against us…I will also paid attention on 30 minute stochastic before jump short... >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The short term picture for the Sterling remains neutral after the continuation of the narrow range consolidation. The British Pound descended significantly against the US Dollar yesterday from 1.9822 to 1.9686, which are the first resistance and support levels respectively for the currency couple today. We need to see break of either levels to see where the trend will be heading next. If the negative sentiment continues, next support is expected at 1.9620, followed by 2.9540. In upward direction next resistance level today is expected at 1.9930, followed by 2.0000. >>

Daily Forex Analysis - By FOREXYARD
Yesterday the Greenback was in a rally against its rival currencies after the release of Prelim GDP q/q data and the hawkish comments by members of the Federal Reserve regarding a possible increase in the interest rate this year. The greenback's rally was also supported by weakness in oil prices. Around 15:54 GMT, the USD was traded as low as 1.5484 at the New York Market from its 1.5586 open rate, reaching its highest value since May 20. The GBPUSD also fell from 1.9803 to 1.9724 with its lowest value at 1.9672 after the announcement of the UK House Prices, whom fell 2.5%, the biggest fall since 1991 in the UK house price survey. >>

Forex Technical Analysis - By DeltaStock Inc.
Downtrending nicely from 1.5761, having corrected the previous slide with the rebound to 1.5541, the pair is still out of the oversold zone and has the potencial to target the 1.5418 support before entering larger corrective phase. Intrady's resistance comes at 1.5496, followed by the crucial 1.5541. We expect to see further drowning to 1.5418 and reverse to follow for a rebound to 1.5591. >>

Forex Depth Analysis: EUR/USD - By Finotec Group
The dollar rallied broadly on Thursday as a report showed the U.S. economy grew in the first quarter at a faster pace than previously estimated and as hawkish Federal Reserve comments boosted expectations for an interest rate increase later this year. >>

Daily FX Report - By Varengold Bank
Good morning from wonderful Hamburg. It is Friday and all traders are looking for the weekend. The time is running fast and with the next month the first half of 2008 is over. In Hamburg should be nice weather at the weekend so we have good conditions to have a fine barbecue. We wish all readers of the Varengoldbank's Daily FX Report a nice weekend. >>

Technical Analysis for Crosses - By Crown Forex
The Pound continued to gain against the Yen after the pair managed to breach the critical resistance at 207.63 which provided the pair with strong momentum to reach the 208.99 which pushed the pair back, the pair now needs to consolidate for a while in order to gather more upside momentum that can lead the pair to breach the 208.99 and head towards the 211 target, while the 207.63 should provide the pair with strong demand but if that level was breached stronger demand is seen around the 206.49 >>

FX Technical Analysis - By Mizuho Corporate Bank
Comment: Dropping through a fat Ichimoku 'cloud' and on its way to our next target at 1.5400. Prices should try and hold above 61% retracement support at 1.5485 this morning but note that momentum is about to turn bearish so if not today then early next week expect a break below here. >>

Forex Technical Analytics - By FOREX Ltd
The assumed test of the key supports has been confirmed but the relative rise of bearish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned buyers' positions. OsMA trend indicator having marked the existent minimal advantage of bearish party gives grounds to choose corresponding planning priorities for today but taking into account general technical picture of considerably low parties' activity we are still presuming a possibility of range movement of the rate for today. >>

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
The greenback recovery continued on yesterday, recovereing its recent losses. Fibonacci support at 1.5490 managed to halt the Euro decline for now but it feels heavy and the support may break easily. Bearish momentum on short term studies is supportive for more downside action if 1.5490 breaks. Below 1.5490 next important support comes at 1.5360. On the upside, near term resistance emerges at 1.5455 then 1.5610. Current quote is 1.5502 @06:18 GMT >>

Technical Analysis for Major Currencies - By Crown Forex
The European currency has reached to a 61.8% the last level of retracement on Fibonacci, plus reaching to a major weekly and daily trend lines, while the currency started to be a bet over sold and started to give signs for a reversal and new targets for the upside wave, the first will be at 1.5618 then at 1.5720 over the short term. >>

Forex Technical Update - By Rcpl Forex
Euro breached the 1.5500 for the first time in 3 weeks as it tested the bids of 1.5485 on the back of increasing unemployment and deteriorating Eurozone consumer confidence. However later regained its losses and closed at 1.5511, the daily and 4-hrly stochastic are in the oversold region showing some buying pressure but upmove will be well contained at 1.5626 (100 & 21 4-hrly EMA & 38.2 % retracement ).(Eur/Usd-1.5537). >>

Technical Analysis Daily: EUR/USD - By iFOREX.bg
The Euro descended significantly against the US Dollar yesterday again, from 1.5662 to 1.5488, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5430, followed by 1.5350. In upward direction next resistance for today is expected at 1.5750, the break of which would lead to next target 1.5815. >>

Pro FX Commentary: USDCAD - By Global Forex Trading
We are closer to breaking the last minor swing high at 0.9951 and yesterday's dip to 0.9867 looks as if it was a Wave b correction. Thus a break above 0.9951-54 would suggest a 161.8% projection in Wave c to the 1.0069 level. Take care as this could cause a pullback. However, overall it could mean that we have seen the major low at 0.9817. >>

Daily Technical Analysis - By FX Instructor
Yesterday, EURUSD short term bearish momentum continued. The pair reached my short target at 1.5550, even further, bottomed at 1.5485 and closed at 1.5510. My model remains short, targeting 1.5410. CCI already in oversold area on 4h chart, so a minor upside pullback might happen today. Immediate resistance is seen at 1.5550. >>

FX Technical Commentary - By Easy Forex
Euro 1.5515 - Initial support at 1.5486 (May 29 low) followed by 1.5410 (May 6 resistance). Initial resistance is now located 1.5664 (May 29 High) at followed by 1.5761 (May 28 high).
Yen 105.55 - Initial support is located at 104.61 (May 29 low) followed by 103.89 (May 28 low). Initial resistance is now at 105.88 (May 29 high) followed by 106.65 (Feb 28 high). >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
Today's support: - 1.5465 and 1.5432(main), where correction is possible. Break would give 1.5413, where correction also may be. Then follows 1.5389. Break of the latter would result in 1.5364. If a strong impulse, we would see 1.5322. Continuation will give 1.5305 and 1.5284. >>

Forex Daily Analysis - Thursday, May 29th

2008-05-29T09:49:00.016+01:00

Today's Market Outlook - By Windsor Brokers Ltd
Retraced over 61.8% of the 1.6020/1.5285 decline, to reach 1.5814/18 highs on 22/27 May, ahead of the latest decline. Break below 1.5693, 22 May correction low, completed a multi-day double top. Next targets at 1.5595/66 have also been cleared exceeded, with market attempting at 1.5520. Break here will open 1.5500/1.5486, possibly 1.5546/20, while 1.5608/60 zone expected to hold the upside. >>

Euro Decline is a Bull Trap - By DailyFX
The EURUSD has fallen materially overnight and is close to testing the psychological 1.55 level. Support should be strong in the 1.5450/90 zone. The drop from above 1.58 counts better as a correction than an impulse (to this point), so be careful of chasing the EURUSD lower. >>

Elliott Wave and Fibonacci Predictions: EUR/GBP - By Capital Forex Group
Hello Guys, EUR/GBP is threatening the FIBO support around 0,7870, so maybe is time to calm down with short trades, I reentered short today in wave (iv) with stops above 0,7895 with target at 161,8%....We should see some buyers reaction in this zone, that means that I am expecting pullback in blue wave iv…I will look for new short opportunities in the same area as wave (iv). I am also watching EUR/USD, so lets see why I thing that we are in the end of blue wave iii… >>

FX Thoughts for the Day - By Kshitij Consultancy Services
Dollar-Swiss is moving up well. It is currently near the projected Max High for the week, but can move up further to test 1.0513, the projected Max High on the Daily chart. This is a strong Resistance as it also falls on a trendline joining the Highs at 1.1628 (25-Dec-07) and 1.0590 (16-May) on the Daily Candles. If and while the Resistance holds, the market could dip back towards 1.0400 and lower. >>

Daily Technical Strategist - By FXTechstrategy
While the weakness off the 1.5812 high remains suggestive of a corrective pullback following its recovery off the 1.5283 low (May 09'08), a clean break and close below its April 03'08 low at 1.5510 will keep more pressure on the downside and bring the pair towards the 1.5360/41 area, its May 02'08/Mar 24'08 lows/.382 Ret (1.4438-1.6018 rally) and next its May 08'08 low at 1.5283. >>

Daily FX Forecast - By FX Dream
EUR/USD has fallen further below 1.5570 Support earlier today after pullback up to 1.5670 first important Resistance Today focus will be on US GDP Numbers (1Q) at 12:30 GMT The consensus is at 0.9% . On downside the break below 1.5580-70 area may signal reversal in the bias for test towards 1.5500 and even 1.5430-20 area over today and tomorrow if the number comes out at 1.2% or higher and even 1.5350 in longer term On the upside, pullback back towards first important Resistance near 1.5670 may be seen if the number comes out at 0.6% or more negative >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar climbed against the Japanese Yen yesterday from 103.90 to 105.28. But the trading of the currency couple still remains within a range as the effort to break the first resistance 105.30 today was still unsuccessful. First support for today is expected at yesterday's bottom 103.90. Next support further down is expected at the lower limit of the consolidation at 103.15, the break of which would open potential drop towards 102.50. In upward direction next resistance is given at the 106.00 level, followed by 106.80. >>

Currency Technical Report - By FX Greece
Comment : Euro's downward move yesterday reached the important support level of 1.5620-30, but the retracements that followed did not confirm its strength. The short term trend has turned bearish and reaching lower support levels is possible. The area of 1.5550-70 is the first target, followed by the area of 1.5490-00. The scenario of a short term sideways formation, which would lead to an immediate move resumption, has been canceled for the time being, as it is possible, by examining the daily chart, that we have entered a downward wave formation, which would lead back to 1.5350-00 area (as you can see in the daily chart above). >>

Daily FX Report - By Varengold Bank
Good morning from wonderful Hamburg. Yesterday Trichet said in a comment: 'The Euro is a shield against economic challenges, the currency became more necessary than 10 year ago.' A great compliment for Europeans, thanks Trichet. But you never know for sure, thinks just change to quickly. >>

Forex Technical Analysis - By DeltaStock Inc.
The sharp slide from yesterday's peak at 1.5761 denied the possibility, that the rise from 1.5664 represents renewing of the uptrend and now there is a clear downtrend, that has reached an interim low at 1.5563. There are no larger supports all the way down to 1.5283, so having in mind that the rise from 1.5283 is confirmed to be finalized at 1.5818, we can expect even deeper drowning to 1.5211. Intraday expect a retest of the 1.5610 resistance, followed by another leg downwards to 1.5496. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound descended significantly against the US Dollar today from 1.9822 to 1.9686, which are the first resistance and support levels respectively for the currency couple today. If the negative sentiment continues, next support is expected at 1.9620, followed by 2.9540. In upward direction next resistance level today is expected at 1.9930, followed by 2.0000. >>

Daily Forex Analysis - By FOREXYARD
Yesterday, the greenback saw bullish trends against most of its major counterparts following positive economic news from the U.S. The EUR\USD was traded as low as 1.5620. The USD was also bullish against the rest of the major currencies. The greenback's daily momentum was driven by the better than forecasted Core Durable Goods Orders and general Durable Goods Orders, as both beat forecasts by at least 1%. >>

Technical Analysis for Crosses - By Crown Forex
The Pound continued to gain against the Yen yesterday but the pair still hasn't breached the critical level at 207.35 which if breached would open the way up to the 207.96 level, on intraday basis the pair might be able to extend its gains but over the short term the momentum indicators are showing that the pair is being traded within an overbought area and needs a correction, while the point at 205.86 offers good demand for the pair today. >>

Forex Technical Update - By Rcpl Forex
Euro: Euro witnessed a free fall in the yesterday's session on the back of weak trade balance data and strong US data as it fell by 150 pips to touch a low of 1.5609, however later gained some strength from the 200 4-hourly EMA at 1.5611 and closed at 1.5646. It is currently trading at 21 daily EMA and trendline support which is crucial, a firm break of this support would give a bearish bias for the pair and a fall upto 1.5542 (55 daily EMA) can be expected. (Eur/Usd-1.5574). >>

Forex Technical Analytics - By FOREX Ltd
The pre-planned short positions have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the preservation of low activity of both parties gives grounds to presume a preservation of range movement of the rate in a short-term future without clearness in a choice of planning priorities for today. Hence and because of descending direction of indicator chart, we assume a possibility of supports 1.9700/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 1.9760/80, 1.9820/40 and/or further breakout variant up to 1.9880/1.9900, 1.9960/80, 2.0000/20. An alternative for sales will be below 1.9660 with the targets 1.9600/20, 1.9540/60. >>

Technical Analysis for Major Currencies - By Crown Forex
The British pound did not yet manage to breach below 1.9700, building a base for the pair that is if breached will drag it down again into the descending channel again and there will be the risk surrounding British pound, and from the upside we need to see a breach for the level 1.9850 in order to confirm any upside movement, while the technical indicators are still neutral. >>

FX Technical Analysis - By Mizuho Corporate Bank
Comment: Surprisingly holding in a small 'flag' formation as the pound gains against other European currencies. We are unlikely to hold so neatly again today so allow for 'spikes' today and through to the middle of next week. This will make trading Cable extremely difficult.
Strategy: Possibly attempt small longs at 1.9715; stop below 1.9675. Short term target 1.9850/1.9880, eventually 2.0000. >>

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex
The sell-off brought the Euro into support zone below 1.5650 on yesterday. The decline is not over as the pair is currently testing support into the 1.5580 region. Although the daily charts look pretty bearish as the momentum favors downside action, the Euro currently faces support formed by fib retracement levels at 1.5555 and lower at 1.5490. Downside risk is high and we expect a test of the lower support zone of 1.5550. Current quote is 1.5586 @06:20 GMT >>

Technical Analysis Daily: EUR/USD - By iFOREX.bg
The Euro descended significantly against the US Dollar yesterday again, from 1.5751 to 1.5610, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5530, followed by 1.5450. In upward direction next resistance for today is expected at 1.5815, the break of which would lead to next target 1.5890. >>

Pro FX Commentary: GBPUSD - Global Forex Trading
The rally is struggling although it is still possible to generate a bullish structure with yesterday's 1.9703 being a possible Wave -b- in Wave -iii-. This will require a prompt move above 1.9851 but also 1.9880-09. Only if seen would I begin to consider resurrecting the 261.8% projection in Wave -iii- at 2.0130. >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
Today's support: - 1.5615 (main), where correction is possible. Break would give 1.5592, where correction also may be. Then follows 1.5565. Break of the latter would result in 1.5542. If a strong impulse, we would see 1.5526. Continuation will give 1.5512 and 1.5488. >>

Daily Forex Market Commentary - By Global Forex Trading
The dollar rallied on Wednesday as well versus all majors but cable, in part because of a better than expected durable goods orders report. But the crude oil made an aggressive recovery. The US currency should only consolidate today. >>

Daily Technical Analysis - By FX Instructor
The Greenback continued it's gain against Euro yesterday, but with less power. However, my model is short, targeting 1.5550 area. EURUSD need to stay below support level 1.5610 to keep this short term bearish momentum intact. Remember that the major trend of EURUSD is up, so we must see this bearish momentum as a correctional move. Immediate resistance seen at 1.5695 area followed by 1.5750. CCI in neutral zone on daily chart. >>

FX Technical Commentary - By Easy Forex
Euro 1.5650 - Initial support at 1.5609 (May 28 low) followed by 1.5595 (May 6 resistance). Initial resistance is now located at 1.5761 (May 28 high) followed by 1.5818 (May 27).
Yen 104.70 - Initial support is located at 103.89 (May 28 low) followed by 102.58 (May 12 low). Initial resistance is now at 105.32 (May 28 high) followed by 105.44 (May 14 high). >>

Forex Daily Analysis - Wednesday, May 28th

2008-05-28T07:17:00.019+01:00

Technical Market View - By FX Greece
AUD consolidates after breaking the important resistance level of 0,9500. In order for the trend to continue, resis-tance at 0.9650 should be broken upwards. First support is found at 0,9540-50 area, followed by the area of 0,9480-00. A move below those levels will indicate the upward trend reversal... >>

Daily Forex Outlook: GBP/USD - By Karoll Financial House
The chart shows my working count for cable. I think that there is a good chance today's rise to be the beginning of wave 3 up for a move above 2.04. With an eye on this idea I exited the previous short position earlier today and turned long. A rise above 1.9848 will be a confirmation for my idea. A key support is today's low 1.9702 >>

Dollar Advances but There is No Evidence of a Major Turn - By DailyFX
The US dollar has advanced across the board but there is no evidence that the greenback is at the forefront of a larger bullish move. Support in the EURUSD is in the 1.5570/1.56 zone. Expectations are now for a spike through 105.70 in the USDJPY to complete a triple combination correction from 95.72. >>

Elliott Wave and Fibonacci Predictions: EUR/GBP - By Capital Forex Group
Hey traders, finally I must say... EUR/GBP went in our direction... I entered short at 0,7960 with stops above wave (II) high. I closed the half of the position at 0,7935 and trailed my stops above blue wave ii... As you can see, price break the low of wave (I) and also the trend line support, so now this support should react like resistance, so this means new low in the near future... well, only if resistance holds. My next target is 0,7898, cause here is wave iii equal to wave i, because wave iii mustn't be shorter of wave i. However my likely target is far away, around 0,7820. Extreme target must say. I am also watching GBP/JPY, where GBP broke the 206,54 high, so this could push GBP much higher and EUR/GBP much lower... >>

FX Thoughts for the Day - By Kshitij Consultancy Services
The Pound is looking particularly vulnerable to a fall, initially towards 1.9650, the projected Max Low for the Day. But, that Support is also liable to break, leading to a possible fall towards 1.9565. A rise past 1.9850 is now needed to negate the chances of a fall. >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar climbed against the Japanese Yen today from 103.90 to 104.77. But the trading of the currency couple still remains within a range but it is now close to the upper consolidation point 104.77, which is also the first resistance today. First support for today is expected at today's bottom 103.90. Next support further down is expected at the lower limit of the consolidation at 103.15, the break of which would open potential drop towards 102.50. In upward direction next resistance is given at the 105.40 level, followed by 106.00. >>

Forex Analysis & Today's Strategy - By Finexo Ltd.
The USD managed to punch a bit stronger in places yesterday, most notably against EUR and CHF, though action remains fairly muted across the board. The obvious trigger for the USD move was a 4-dollar drop in the price of crude oil, the largest fall in the price since March. Gold also went into a freefall yesterday, registering an 18-dollar drop. CAD, NOK and AUD were far more resilient than one might have anticipated in such circumstances, as presumably the growth-positive aspects of the energy sell-off were weighed as heavily as the negative implications for these currencies' current accounts. It appears we would need both demand-related commodity weakness and an equity sell-off to give these currencies a one-two punch. >>

Currency Technical Report - By FX Greece
TRADING EUR/USD : Our scenario remains the same as in our last analysis. We keep our posi-tions small and buy positions could be tested at 1.5670-80 retracements only if we intend to buy again in the area of 1.5630-40, with stops below 1.5600. If 1.5800-20 is reached, sell positions will be attempted with stops above 1.5835. A clear break of 1.5820 will be followed with buy positions until the area of 1.5900, levels where bears should appear... >>

Daily FX Report - By Varengold Bank
Yesterday was an exiting day for the commodity trader because metals and energies made a hart landing after the release of the US consumer prices and the Home sales. But also currencies had a choppy trading yesterday in comparison to the holiday trading on Monday. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The short term picture for the British Pound remains neutral as the 1.9850 level brought the currency couple back to 1.9720, which are the first resistance and support levels respectively for today. If the positive sentiment continues, next resistance is expected at 1.9930, followed by 2.0000. In downward direction next support today is expected at 1.9620, followed by 1.9540. >>

Forex Technical Analysis - By DeltaStock Inc.
The pair has built a local bottom at 1.5283 and has advanced well beyond 1.5571. Technical indicators are rising and divergent. The 50- day SMA is currently projected at 1.5631.
We think that the consolidation pattern from 1.5814 is already completed with yesterday's 1.5664 and the road to 1.5961 is clear. Intraday minor resistance can be found below 1.5818, but the overall bias is positive and we expect the pair to challenge 1.5889 and eventually 1.5961.
Today's strategy: Buy at 1.5742-48 with a stop below 1.5708 and target at 1.5811. Buy again on a break above 1.5818. >>

Forex Technical Analytics - By FOREX Ltd
GBP - The assumed test of the key support range has been confirmed but the relative rise of bearish activity and weakness of consequent bullish counteraction did not dispose to realization of the pre-planned buyers' positions. At present taking into account the preservation of some advantage from sales, we assume a possibility of insignificant rate correction to the range of 1.9770/90, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.9710/30, 1.9640/60 and/or further breakout variant up to 1.9580/1.9600, 1.9520/40. An alternative for buyers will be above 1.9860 with the targets 1.9900/20, 1.9960/80, 2.0000/20. >>

Technical Analysis for Crosses - By Crown Forex
GBP/JPY - The Pound managed yesterday to rise against the Yen to continue the upside wave that have been initiated over the short term, yet the pair couldn't breach the 206.26 resistance level, today the same level will stand in the pair's way to acquire the set target at 206.80, while the 204.04 still offers strong demand for the pair and represents the pivot point for the upside wave. >>

Technical Analysis for Major Currencies - By Crown Forex
EURO - The European currency declined yesterday to a key support level at 1.5660 in a slight retracement to update the overbought status for the currency, yet the pair is still in an ascending channel that is leading it higher and higher with a first target at 1.5950, where this channel will be breached below 1.5990. >>

FX Technical Analysis - By Mizuho Corporate Bank
Comment: Almost a 'bearish engulfing' candle yesterday adds weight to our view that we are forming an interim top against the 75% retracement level. Late today expect a test of the 9 and 26-day moving averages at 1.5642 and 1.5627.
Strategy: Sell at 1.5715, adding to 1.5800; stop above 1.5825. Short term target 1.5600, probably 1.5400. >>

Forex Technical Update - By Rcpl Forex
Euro: Euro remained under pressure as it dipped to a low of 1.5682 from the highs of 1.5818 yesterday. Although the daily charts are extremely overbought, the 4-hourly is moving towards the oversold region. On the downside 1.5638 is an important support (21 Daily EMA & 100 4-hourly EMA). Initiate longs around these levels targeting 60 pips.(Eur/Usd-1.5705). >>

Daily Technical Strategist - By FXTechstrategy
Having hesitated and digested its run off the 1.5283 low (May 09'08), EUR weakened on Tuesday trading to as low as 1.5672. While additional downside losses can not be ruled out judging by its overbought condition which is yet to properly unwind, such weakness is expected to target and probably hold above the 1.5593 level, its May 06'08 high where a breakdown if seen could see the pair head further lower towards the 1.5360/41 area, its May 02'08/Mar 24'08 lows/.382 Ret (1.4438- 1.6018 rally) and then its May 08'08 low at 1.5283.Conversely,recovering from its Tuesday losses should open up upside risk towards its May 22'08 high at 1.5813 initially followed by the 1.5895/I 5912 area, its Mar 31'08 high/April 10'08 high ahead of its YTD high at 1.6018.Overall,medium and longer term trend remain to the upside implying that any nearer to shorter term weakness is seen as corrective. >>

Technical Analysis Daily: EUR/USD - By iFOREX.bg
The Euro descended significantly against the US Dollar yesterday because of the oil prices rise, from 1.5816 to 1.5667, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5600, followed by 1.5530. In upward direction next resistance for today is expected at 1.5890, the break of which would lead to next target 1.6000. >>

Pro FX Commentary: EURUSD - By Global Forex Trading
This morning's move down to 1.5663 appears to complete a minor Wave v from the 1.5817 high in Wave Fc of a flat correction from 1.5812. If so then this should be the end of Wave x and thus we should now see a final ABC move higher to complete a triple three. The first Wave a should reach back to the 1.5817 area followed by a correction in Wave b and followed by Wave c to the 76.4% retracement in Wave (b) at 1.5845 at least. This will be approximate. >>

Daily Technical Analysis - By FX Instructor
Yesterday the Greenback recovered against Euro. EURUSD slumped, bottomed at 1.5671 and closed at 1.5678. The pair had a sharp decline after touch 1.5818, which seen as a double top formation with 22/05/2008 high at 1.5813. My model is mixed with downside bias. Immediate support seen at 1.5660. Initial resistance at 1.5750. CCI in neutral area on daily chart. >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
EURUSD - Today's support: - 1.5644 and 1.5615 (main), where correction is possible. Break would give 1.5592, where correction also may be. Then follows 1.5565. Break of the latter would result in 1.5542. If a strong impulse, we would see 1.5526. Continuation will give 1.5512 and 1.5488. >>

FX Technical Commentary - By Easy Forex
Euro 1.5685 : Initial support at 1.5631 (May 21 low) followed by 1.5504 (May 20 low). Initial resistance is now located at 1.5814 (May 22 high) followed by 1.5846 (76.4% retracement 1.5284-1.5814)
Pound 1.9755 :
Initial support at 1.9684 (May 22 low) followed by 1.9614 (May 21 low). Initial resistance is now at 1.987 (76.4% retracement of 2.00027-1.9363) followed by 1.9881 (50% retracement 2.0398-1.9393). >>

Forex Daily Analysis - Tuesday, May 27th

2008-05-27T07:52:00.009+01:00

Chart Of The Day: EUR/JPY - By FX Solutions
5/27/2008 - EUR/JPY - Price on the EUR/JPY daily chart, as shown, is approaching a significant downtrend resistance level. This dynamic resistance is represented on the chart by the long red line. The strength and significance of this line has been reinforced by at least five touches since July of last year. On the impending approach of a sixth potential touch, the bias is towards a turn back down at or near the line to continue the medium-term downtrend. This bias is confirmed by oscillators like the displayed Stochastics, which have been in overbought territory and are pointing down. In the event of this move back down, the next major support to the downside resides in the region of 158.60, which comprises a significant previous support/resistance zone. >>

Euro and Pound Support at 1.57 and 1.97 - By DailyFX
The dips in the EURUSD and GBPUSD following the US holiday are corrective in nature. Both the EURUSD and GBPUSD are expected to form short term bottoms and exceed 1.9850 and 1.5817 this week. >>

Today's Market Outlook - By Windsor Brokers Ltd
EURUSD - Reversed from 1.6020, 22 Apr all-time high, to find supportt at 1.5285 on 11 Mar. A base then formed and recovery was seen to 1.5796/1.5814 on 21/22 May. Dip to 1.5693 followed, ahead of fresh strength to 1.5819 today, ahead of the current pullback. However, while 1.5693/96, 22/23 May lows hold, near-term structure remains positive and clearance at 1.5814/19 required to confirm recovery towards 1.5847 then 1.5915. >>

Forex Analysis & Today's Strategy - By Finexo Ltd.
UBS is now saying that they might experience more losses related to mortgage securities. It dropped 5.8% in Swiss trading.
Increasing bets and talks on the need for a stronger Yuan (CNY) in order to contain inflation in China. USDCNY is down by 16% since mid-2005. Speculation is done in the forward market. >>

FX Thoughts for the Day - By Kshitij Consultancy Services
GBP-USD : Our Long at 1.9823 succumbed to a "stop-hunting" dip to 1.9714 during the day. There is an important Support at 1.9670-55 now. If and while that holds, there are still chances of a rise towards 1.9925 or higher. If that Support breaks, then we may be in for an extended sideways range trade between 1.9370-9850 for the next several days. As it is, looking at the Weekly Candles, the market appears to be ranged between 1.95-2.00 for the next 4-5 weeks. >>

Elliott Wave and Fibonacci Predictions: EUR/GBP - By Capital Forex Group
Traders welcome back, as you know, I was stopped out on EUR/GBP, but I cut the losses on EUR/JPY today, with the strategy from Friday…Anyway, the Monday was really calm because of the holiday in US and UK, so I didn't stare in to the charts yesterday… >>

Technical Analysis Daily: USD/JPY - By iFOREX.bg
The US Dollar climbed against the Japanese Yen today from 103.27 to 104.00. But the trading of the currency couple still remains within a range. First support for today is expected at 103.15. Next support further down is expected at the lower limit of the consolidation at 102.50, the break of which would open potential drop towards 101.60. In upward direction resistance is given at the 104.00 level, followed by 104.50, and 105.00. >>

Daily Technical Strategist - By FXTechstrategy
Today's Focus: EURUSD & GBPUSD
EURUSD - As a run to the upside off the 1.5283 low (May 09'08) begins to consolidate due to overbought condition, the pair may head lower to unwind the said condition before an attempt on the upside could be seen again. >>

Currency Pair Daily Forecasts - By Finotec Group
EUR/USD - Market strategy can be a sell at the level 1.5810, To support our technical analysis we will use oscillators such as MACD (Moving Average Convergence Divergence); we see that the selling pressure is still gaining traction; also we notice that the signal line is under the long EMA line down and both are in a bearish direction, revealing a downward trend. >>

Forex Technical Analysis - By DeltaStock Inc.
EUR/USD - The pair has built a local bottom at 1.5283 and has advanced well beyond 1.5571. Technical indicators are rising and divergent. The 50- day SMA is currently projected at 1.5631.
USD/JPY - The pair is in a corrective uptrend from the 95.75 short-term bottom. Technical indicators are rising slowly and the upmove is dynamically supported at 102.36. The inner structure of the rise is by all means a corrective one, so from a larger point of view the overall downtrend from 124.14 is not over yet. >>

Technical Analysis Daily: GBP/USD - By iFOREX.bg
The British Pound descended today against the US Dollar from 1.9846 to 1.9717, which are the first resistance and support levels respectively for the currency couple today. The first resistance is the top from 22 May at 1.9850, whish is also 75.8% correction of the descent from 1.6015 to 1.5250. If the positive sentiment continues, next resistance is expected at 1.9930, followed by 2.0000. In downward direction next support today is expected at 1.9620, followed by 1.9540. >>

Daily Forex Analysis - By FOREXYARD
Yesterday was a relatively volatile session for greenback pairs. Because of Memorial Day in the US, banks remained closed during the day, and as a result an extremely low volume was observed within USD trading. The EUR\USD saw volatile behavior from the beginning of the trading week until the end of the day yesterday, as well as the USD\JPY. >>

Forex Depth Analysis: GBP/JPY - By Finotec Group
Sterling break could pay off against yen. Bank of Japan Governor Masaaki Shirakawa said on Tuesday that Japan's short-term interest rates are at appropriate levels considering the country's potential growth rate.'The current levels of real short-term interest rates are at zero or slightly minus,' Shirakawa told the upper house financial committee. >>

Daily FX Report - By Varengold Bank
Former Fed Chairmann Greenspan said yesterday the US will fall into a recession even as the economy show signs of stabilization. Greenspan told that the chance of a recession is greater than 50%, but the chance of a hard recession has come down markedly. He also mentioned that it is unclear when firms will finish taking write-downs related to mortgage securities. >>

Forex Technical Analytics - By FOREX Ltd
GBP - The assumed test of the key resistance range has not been confirmed but the preservation of low activity parity of both parties according to the version of OsMA indicator version gives grounds to preserve the principle of planning of trading operations without clearness in a choice of priorities and calculations for further range movement of the rate. >>

Technical Analysis for Crosses - By Crown Forex
GBP/JPY - The Pound continued its bullish wave against the Yen, as the pair rebounded last week from the strong support at 202.70s, the pair now targets the 206.11 as long as the 204.08 remains intact, dropping below the 204 levels would indicate the pair might be heading towards the 202.70s level, while breaching the 206.11 could lead the pair up to the 207.96 level. >>

Technical Analysis for Major Currencies - By Crown Forex
EURO - The European currency is targeting higher today as the technical indicators are adjusting for a strong bullish movement and so if the pair breaches the 1.5820 the first target will be 1.5950 and then for new fresh highs above 1.6000. From the downside, the risk limit to this short term bullish scenario lies at 1.5700 which provides the first acceptable support for consolidation purposes. >>

Pro FX Commentary: USDCHF - By Global Forex Trading
The pullback to the 1.0353 high came in 3 waves and thus we face the possibility of a complex correction. Thus we need to allow for a flat correction back to 1.0232 and possibly an expanded flat to 1.0203 both of which could still see a move tot eh 41.4% retracement in Wave iv at 1.0372. >>

Forex and Dow Jones Recommended Levels - By FXtechtrade
EURUSD - Today's support: - 1.5774 and 1.5738 (main), where correction is possible. Break would give 1.5717, where correction also may be. Then follows 1.5705. Break of the latter would result in 1.5682. If a strong impulse, we would see 1.5666. Continuation will give 1.5644. >>

Daily Technical Analysis - By FX Instructor
Yesterday we didn't see significant movement due to holidays. My model for EURUSD remains long still targeting 1.5850. An upside break of that level would open the door for 1.5950. Immediate support seen at 1.5750. CCI about to cross 100 line down, so watch out for a minor downside pullback. >>

Daily Forex Market Commentary - By Global Forex Trading
The dollar drifted aimlessly during the Memorial Day weekend. Trading should return to normal today, but probably slowly. Expect an attempt to recover before the dollar turns lower. >>

Forex Daily Analysis - Monday, May 26th

2008-05-26T17:36:00.000+01:00

Euro Holds Support Uptrend Remains In Place : By DialyFX
In quiet holiday trade EURUSD held support at 1.5750 level and now looks to retest the 1.5800 figure as it continues to consolidate in a narrow range. We remain bullish on the pair with target to be determined later. >>

Technical Analysis Daily : USD/JPY : By iFOREX.bg
USD/JPY Open 103.33 High 104.38 Low 102.73 Close 103.31
The US Dollar climbed against the Japanese Yen last week from 102.73 to 104.38, which are the first support and resistance levels respectively for the currency couple today. >>

Forex Analysis & Today's Strategy GBPUSD May 6th, 2008

2008-05-06T12:52:00.000+01:00

USD lower again as crude oil posts new record highs. USDJPY can't hold above 105.00 - time for a new sell-off?

The USD is weakening after very weak US Vehicle Sales. Watch out for E-Z PPI today and Rate Decisions from BoE and ECB tomorrow...

Overnight News Bullets

* US Domestic Vehicle Sales (Apr) out at 10.6M vs. 11.4M expected.
* NO PMI sa (Apr) out at 54.4 vs. 52.3 expected.
* NO Unemployment Rate (Apr) out at 1.6% as expected.
* E-Z Sentix Investor Confidence (May) out at 3.5 vs. 3.9 expected.
* US ISM Nonmanufacturing Composite (Apr) out at 52.0 vs. 49.1 expected.
* Bernanke spoke yesterday, acknowleding the weakness in housing and a severe increase in mortgage delinquencies.
* AU Trade Balance (Mar) out at -2736M vs. -2900M expected.
* AU RBA Cash Target out at 7.25% (unchanged) as expected.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
	+				+			+

Calendar
Today's Highlights:

Time (GMT) Region Release Consensus
05:45 SZ CPI MoM/YoY (Apr) 0.9%/2.4%
07:45 – 08:00 E-Z A streak of E-Z PMI Services
08:30 UK PMI Services (Apr) 51.7
09:00 E-Z PPI MoM/YoY (Mar) 0.7%/5.6%
12:30 CA Building Permits MoM (Mar) 1.2%
14:00 CA Ivey PMI (Apr) 54.0
21:00 US ABC Consumer Confidence -41
23:01 UK Nationwide Consumer Confidence (Apr) 74
23:30 AU AiG Performance of Construction Confidence (Apr) 48.4 (prior)

This and Next Week’s Highlights:

Date Region Release
May 7 UK Industrial Production, Manufacturing Production
May 7 E-Z Retail Sales
May 7 GE Factory Orders
May 7 US MBA Mortgage Applications, Nonfarm Productivity, Unit Labor Costs, Pending Home Sales, DOE/API Inventories
May 7 NZ Unemployment Rate
May 8 AU Employment Change, Unemployment Rate
May 8 SZ Unemployment Rate
May 8 GE Trade Balance, Current Account
May 8 SE Industrial Production, Industrial Orders
May 8 NO Industrial Production
May 8 GE Industrial Production
May 8 UK BOE announces Rates
May 8 E-Z ECB announces Rates
May 8 CA Housing Starts
May 8 US Initial Jobless Claims, Continuing Claims, Wholesale Inventories, EIA Nat gas storage change

What's going on?

* Having announced a Q1 loss of 11-5B francs, UBS has also stated that it would cut as many as 2,600 jobs, or 12% of the securities unit with total potential cuts amounting to 8,000 jobs, underpinning the troubles faced by the European bank with the highest losses from the subprime losses.
* U.S. Total Vehicle Sales have hit the lowest level since July 1998, as high fuel prices continue to take a toll on demand for high energy consuming pickup trucks and sport-utility vehicles.
* In his speech to Columbia University in New York, Fed Chairman Bernanke said high delinquency and foreclosure rates have hurt the broader economy, highlighting the spillover effects on the housing and financial sectors.
* The crude oil has touched another record high at $120.36 a barrel on speculation of growing demand during the peak summer driving season in the U.S. Next big levels to watch become $122.50 on the upside and $117.00 on the downside.

FX
Break-Out Trade in GBPUSD

EUR	USD	JPY	GBP	CHF	AUD	CAD	NZD	NOK	SEK	PLN
			-		-		-		+

FX Trading Strategies

Pair Supp. Resis. Comments
GBPUSD 1.96 1.98 With lack of liquidity yesterday due to UK and Japan closed, trading
was very spiky. Strong US figures might still have some follow-through.
We have placed an order to sell at 1.9723 offer, targeting 1.9670. Stop
if bid at 1.9734.

MAJOR HEADLINES – PREVIOUS SESSION
- Australia Mar. Trade Balance out at -2736M vs. -2900M expected and -3261M in Feb.
-Australia RBA left Cash Target unchanged at 7.25% as expected.
-Switzerland Apr. CPI out at 0.8% vs. 0.9% expected

THEMES TO WATCH – UPCOMING SESSION

Key Risk Events (All times in GMT)

* EuroZone ECB's Trichet to speak (0730)
* EuroZone Apr. Services PMIs (beginning 0745)
* UK Apr. Services PMI (0830)
* EuroZone Mar. PPI (0900)
* Canada Mar. Building Permits (1230)
* Canada Apr. Ivey PMI (1400)
* US Weekly Crude Oil and Product Inventories (1430)
* EuroZone ECB's Tumpel-Gugerell to speak (1730)
* US Weekly ABC Consumer Confidence (2100)
* UK Apr. Nationwide Consumer Confidence (2301)
* Australia Apr. Performance of Construction (2330)
* US Fed's Hoenig to speak (0130)

Market Comments

Yesterday's ISM Non-manufacturing figure came out far better than expected at 52.0 vs. 49.1 expected. This was the first reading above the key 50.0 level since December of last year and is especially surprising to us and the market given the moribund state of many of the other available indicators. Looking at the internals of the reading, there was less to get excited about, with a strong rise in "supplier deliveries" and a stabilization of the employment sub-index causing the rise above the 50 mark. The business activity index fell to 50.9 from 52.2 and new orders dropped to 50.1 from 50.2. Next month's report is unlikely to offer the same kind of upside surprise.

The USD failed to respond to the positive data just as it failed to respond on Friday and weakened slightly. EURUSD nudged higher, closing just shy of the 55-day moving average, and USDJPY eased back below 105.00. USDJPY is the more interesting chart due to the inability to hold the new highs and we wonder if it is time for a new sell-off. Adding to the USD's woes was the huge rally in crude, which even notched a new all-time record above 120 after trading closer to 110 just a few trading days ago. High oil prices are not good news for the economy or the USD, considering the implications for the trade deficit. Keep an eye on the US weekly crude oil inventory data today. Another big spike in oil could change the game plan across markets, and would certainly risk delaying any USD comeback that we would otherwise anticipate soon.

The Reserve Bank of Australia left rates unchanged as expected and the guidance from governor Stevens suggested little impetus for raising rates further. The market has priced in about a 30% chance of another hike by late fall, but there was little from the RBA to support this notion. "Given the opposing forces at work, considerable uncertainty remains about the outlook for demand and inflation." Their basic outlook is that the economy will slow and inflation will moderate. AUDUSD is off its highs from overnight, but took the news in stride. A better than expected trade deficit number and sharp rise in gold yesterday are lending the Aussie some support. Again, the scenario there looks like a try for the top (and extension to new highs as long as no one steals the punch bowl away from the rally in risk appetite), but we urge caution.

USDJPY reversed back below 105.00 yesterday after probing above this key resistance level on Friday. While the reversal was somewhat tentative, the bulls need to prove themselves now or the odds will continue to tilt to the downside, especially if the rising line of consolidation gives way. As always, watch equity markets for direction.

Finexo shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein

contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by

Finexo that clients will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with

the recommendations in an analysis, especially leveraged investments such as foreign exchange trading and investment in derivatives, can

be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as

anticipated.

Forex Daily Forecasts - Tuesday, Oct 30th

2007-10-30T07:31:00.000Z

From: Max McKegg - Technical Research Limited
Date: Oct 30, 2007 11:50 AM
Subject: My LATEST FX Forecasts for OCTOBER 30th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for TUESDAY - OCTOBER 30th

** EURO/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,1.4265 - Euro may have completed correction already and Support
now found at 1.4215 /1.4180 to yield resumption of Uptrend toward 1.4700.
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 30th, 1.4410
Support /4390/4365/4350/ Euro's Uptrend is developing well and with
** *** RESISTANCES ** ** suport now around the mid 1.4300's looking
Resistance /4425/4440/4500/ for advance toward 1.4500 - enroute 1.4570
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 30th, 1.4410
Euro has Support about 4365/4350 for next advance above 4440 onto 4500+
------------------------------------------------------------------------

. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,2.0505 - Sterling may have completed correction already.Support
probably now found at 2.0450/2.0370 for resumption of Uptrend twd 2.1100
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October 30th, 2.0630
Support /0585/0550/0530/ Sterlings Uptrend developing well.Support
** *** RESISTANCES ** ** now about the mid 2.0500's for next rally
Resistance /0625/0650/0700/ above Key 2.0650 Resistance toward 2.0800
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 30th, 2.0605
Will try to Buy at 2.0560/0545 (Stop under 2.0515) for rally onto 2.0800
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
OCT.23rd,114.50 - The Dollars recovery is probably merely corrective and
resistance now at 115.00/115.75 to yield sell-off back toward Key 111.60
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 30th, 114.45
Support /1430/1400/1375/ Dollars recovered well and probably still
** *** RESISTANCES ** ** lies within broad corective consolidation
Resistance /1460/1475/1490/ before the Downtrend is ready to resume.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 30th, 114.45
Support found at 114.30,114.00/113.75 max.to yield rally back twd 114.90
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
OCT.24th,1.1730 - Dollar's Downtrend developing well and with resistance
now around 1.1900 looking for sell-off toward 1.1400,enroute Key 1.1285 .
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 30th, 1.1655
Support /1635/1620/1600/ The Dollar's correction persists and until
** *** RESISTANCES ** ** support at 1.1635/1620 is broken,probably
Resistance /1670/1690/1725/ extend to 1690,1725 max.before RVSL-1.1550
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 30th, 1.1655
Until support about 1.1635 is broken,the corection extends toward 1.1690
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.8985 - Ozzy's completed correction at .8750 and support is
now around the .8900 level to yield the resumption of Uptrend onto .9400
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 30th, .9190
Support /9175/9160/9145/ Ozzy's advancing nicely & Support is now
** *** RESISTANCES ** ** around the 9160 level for the resumption
Resistance /9215/9240/9270/ of Uptrend onto .9270 - enroute to .9400
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 30th, .9190
Will try to Buy Ozzy about 9165 (Stop under 9125) for advance twd .9270+
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.7575 - Kiwi's completed correction at 7370 and support now
found at 7500 - 7440 to yield the resumption of Uptrend toward 7850/7900
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 30th, .7685
Support /7670/7650/7635/ Kiwi's advancing nicely & Support is now
** *** RESISTANCES ** ** around the mid .7600's for a resumption
Resistance /7710/7740/7785/ of Uptrend onto .7785 - enroute to .7860
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 30th, .7680
Will try to Buy Kiwi around .7650 (Stop under 7615) for advance twd 7785
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Monday, Oct 29nd

2007-10-29T10:09:00.000Z

From: Max McKegg - Technical Research Limited
Date: Oct 29, 2007 10:47 AM
Subject: My LATEST FX Forecasts for OCTOBER 29th
To: TRL

To View Forecasts in PDF Form, Click on
Attachment

My FX Forecasts for MONDAY - OCTOBER 29th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,1.4265 - Euro may have completed correction already and Support
now found at 1.4215 /1.4180 to yield resumption of Uptrend toward 1.4700.
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 29th, 1.4420
Support /4390/4370/4345/ Euro has again rallied nicely & Support is
** *** RESISTANCES ** ** now about 1.4390,mid 4300's max.extending
Resistance /4445/4480/4500/ Uptrend to the 1.4500 level,enroute 1.4570
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 29th, 1.4410
Whilst holding 4390 Upside imminent.Otherwise tests mid 4300's before UP
------------------------------------------------------------------------

. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,2.0505 - Sterling may have completed correction already.Support
probably now found at 2.0450/2.0370 for resumption of Uptrend twd 2.1100
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October 29th, 2.0545
Support /0520/0485/0430/ Sterlings rallied nicely & whilst holding
** *** RESISTANCES ** ** support in low 2.0500's Uptrend extends
Resistance /0575/0600/0650/ to 2.0650.Otherwise 2.0430/0400 before UP
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 29th, 2.0545
Whilst now holding the low 2.0500's rallies beyond 2.0575 toward 2.0650.
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
OCT.24th,1.1730 - Dollar's Downtrend developing well and with resistance
now around 1.1900 looking for sell-off toward 1.1400,enroute Key 1.1285 .
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 29th, 1.1625
Support /1600/1585/1550/ Dollars again sold-off well and Resistance
** *** RESISTANCES ** ** now around mid 1.1600's,1690 max.to yield
Resistance /1650/1665/1690/ resumption of Downtrend twd the mid 1500's
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 29th, 1.1625
Resistance at 1.1650/65,1.1690 max.to extend Downtrend toward mid 1500's
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
OCT.23rd,114.50 - The Dollars recovery is probably merely corrective and
resistance now at 115.00/115.75 to yield sell-off back toward Key 111.60
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 29th, 114.15
Support /1400/1375/1325/ Dollar recovered well to 114.60 corective
** *** RESISTANCES ** ** target on Friday & until 114.00/113.75 is
Resistance /1440/1465/1500/ broken,opportunity for recovery to 115.00
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 29th, 114.15
Whilst holding 114.00,113.75 max.opportunity for 114.60 - enroute 115.00
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.8985 - Ozzy's completed correction at 8750 and support now
around .8900 to yield resumption of Uptrend onto .9400,enroute 9550/9600
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 29th, .9190
Support /9210/9185/9160/ The Ozzys again rallied nicely & support
** *** RESISTANCES ** ** now about the .9185/.9160 area extending
Resistance /9250/9265/9300/ Uptrend onto the mid 9200's,enroute 9400
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 29th, .9225
Support now around the 9200 level as Uptrend onto .9250/65,enroute .9400
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.7575 - Kiwi's completed correction at 7370 and support now
found at 7500-7440 to yield resumption of Uptrend toward the .8000 level
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 29th, .7670
Support /7680/7650/7635/ The Kiwis again rallied nicely & support
** *** RESISTANCES ** ** now about the .7650/.7635 area extending
Resistance /7720/7735/7785/ Uptrend twd the .7785 level,enroute 7840
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 29th, .7690
Support about 7680,.7650/7635 max (Stop under 7620) for advance twd 7785
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Friday, Oct 26th

2007-10-26T08:11:00.001+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 26, 2007 11:25 AM
Subject: My LATEST FX Forecasts for OCTOBER 26th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for FRIDAY - OCTOBER 26th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,1.4265 - Euro may have completed correction already and Support
now found at 1.4215 /1.4180 to yield resumption of Uptrend toward 1.4700.
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 26th, 1.4325
Support /4315/4300/4285/ Euro has rallied nicely to the mid 4300's
** *** RESISTANCES ** ** and support now about the 1.4315/4300 area
Resistance /4350/4385/4400/ to extend Uptrend toward the late 1.4300's
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 26th, 1.4330
Staying Bullish (Stop under 1.4290) for rally to next target around 4380
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
OCT.24th,1.1730 - Dollar's Downtrend developing well and with resistance
now around 1.1900 looking for sell-off toward 1.1400,enroute Key 1.1285 .
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 26th, 1.1660
Support /1635/1615/1600/ The Dollar has sold-off well & Resistance
** *** RESISTANCES ** ** is now at 1.1670/1.1690 to extend sell-off
Resistance /1675/1690/1705/ toward next Suport around the 1.1600 level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 26th, 1.1655
Resistance about 1.1670/75 for next leg of decline toward the 1.1600 lvl
------------------------------------------------------------------------

. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,2.0505 - Sterling may have completed correction already.Support
probably now found at 2.0450/2.0370 for resumption of Uptrend twd 2.1100
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October 26th, 2.0510
Support /0500/0475/0450/ Sterling has rallied nicely & looking for
** *** RESISTANCES ** ** Uptrend to extend toward next Resistance
Resistance /0530/0555/0580/ around the 2.0580 level - enroute 2.0650+
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 26th, 2.0520
Still looking for Sterling to extend its advance toward the 2.0580 level
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
OCT.23rd,114.50 - The Dollars recovery is probably merely corrective and
resistance now at 115.00/115.75 to yield sell-off back toward Key 111.60
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 26th, 114.15
Support /1395/1375/1325/ Dollar sold-off well yesterday But until
** *** RESISTANCES ** ** suport about 113.75 is broken looking for
Resistance /1440/1465/1500/ some more consolidation & return to 1460.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 26th, 114.20
Whilst now holding 114.00/113.75 recovery extend toward the 114.60 level
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.8985 - Ozzy has probably completed correction at .8750 and
support now around the 8900 level to yield resumption of Uptrend to 9400
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 26th, .9080
Support /9090/9075/9045/ The Ozzys again rallied nicely & support
** *** RESISTANCES ** ** is now at the .9070/.9045 area extending
Resistance /9120/9150/9165/ Uptrend to .9115 enroute the mid .9100's
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 26th, .9105
Rallying well.Support now about 9090/9075 as rally extends to mid 9100's
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.7575 - Kiwi's probably completed correction at .7370 & now
finds Support at 7500-7440,to yield a resumption of Uptrend toward .8000
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 26th, .7610
Support /7625/7610/7585/ Kiwi's rallying well & support is now at
** *** RESISTANCES ** ** 7600/.7585,looking for Uptrend to extend
Resistance /7670/7685/7720/ toward the next Resistance at .7670/7685
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 26th, .7640
Rallying well.Support now about 7625/7610 as rally extends to .7670/7685
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Thursday, Oct 25th

2007-10-25T11:05:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 25, 2007 11:35 AM
Subject: My LATEST FX Forecasts for OCTOBER 25th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for THURSDAY - OCTOBER 25th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,1.4265 - Euro may have completed correction already and Support
now found at 1.4215 /1.4180 to yield resumption of Uptrend toward 1.4700.
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 25th, 1.4260
Support /4250/4230/4190/ Euro's recovered nicely from 1.4215-1.4180
** *** RESISTANCES ** ** & support now about 1.4250/1.4235 for the
Resistance /4280/4320/4350/ next leg of advance toward the mid 1.4300s
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 25th, 1.4265
Looking for rally above 1.4280 Resistance onto 1.4320,enroute mid 4300's
------------------------------------------------------------------------

. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
OCT.24th,2.0505 - Sterling may have completed correction already.Support
probably now found at 2.0450/2.0370 for resumption of Uptrend twd 2.1100
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October 25th, 2.0495
Support /0450/0425/0390/ Sterling's recovered well and support now
** *** RESISTANCES ** ** found at 2.0475/2.0450 for the resumption
Resistance /0500/0515/0550/ of Uptrend onto 2.0550,enroute to 2.0650+
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 25th, 2.0475
Looking for rally above 2.0515 Resistance onto 2.0550,enroute Key 2.0650
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
OCT.23rd,114.50 - The Dollars recovery is probably merely corrective and
resistance now at 115.00/115.75 to yield sell-off back toward Key 111.60
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 25th, 114.20
Support /1385/1325/1270/ Having sold-off from 115.00 resistance is
** *** RESISTANCES ** ** now around 114.65 level to yield sell-off
Resistance /1420/1435/1465/ below 113.85 toward 113.25 & then 112.70.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 25th, 114.00
Whilst 114.20 contains,Downside imminent.Otherwise around 114.65 B4 Down
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
OCT.24th,1.1730 - Dollar's Downtrend developing well and with resistance
now around 1.1900 looking for sell-off toward 1.1400,enroute Key 1.1285 .
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 25th, 1.1725
Support /1700/1670/1650/ Resistance now about 1.1735,1.1775 max.and
** *** RESISTANCES ** ** whilst this contains looking for sell-off
Resistance /1735/1750/1775/ toward the mid 1.1600's - then Key 1.1600.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 25th, 1.1715
Still looking for sell-off to extend toward mid 1.1600's,enroute 1.1600.
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.8985 - Ozzy has probably completed correction at .8750 and
support around 8900,.8860 max.to yield resumption of Uptrend toward 9400
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 25th, .9030
Support /9000/8985/8935/ Ozzy's recovered nicely & support is now
** *** RESISTANCES ** ** around the .9000 lvl to yield next rally
Resistance /9045/9075/9130/ beyond .9075 onto .9130,enroute to .9200
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 25th, .9020
Buying Ozzy (Stop under .8985) for next rally onto .9075 and then .9130.
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 24th,.7575 - Kiwi's probably completed correction at .7370 & now
finds Support at 7500-7440,to yield a resumption of Uptrend toward .8000
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 25th, .7550
Support /7520/7500/7470/ Kiwi has recovered nicely from 7500-7440
** *** RESISTANCES ** ** & support now found about .7530/7515 for
Resistance /7550/7565/7595/ next advance onto 7630,enroute Key .7785
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 25th, .7530
Buying Kiwi (Stop under .7500) for next rally above Key 7565 toward 7630
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Tuesday, Oct 23rd

2007-10-23T06:44:00.000+01:00

: Max McKegg - Technical Research Limited
Date: Oct 23, 2007 11:27 AM
Subject: My LATEST FX Forecasts for OCTOBER 23rd
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for TUESDAY - OCTOBER 23rd

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
October 23rd,1.4180 - Euro has rallied nicely & support is probably next
found at 1.4000 /1.3950 for resumption of Uptrend toward the 1.4750 level
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 23rd, 1.4180
Support /4175/4160/4125/ The Euro's undergoing a correction,finding
** *** RESISTANCES ** ** resistance about the mid 1.4200's for next
Resistance /4215/4245/4265/ leg of corrective sell-off toward 1.4000.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 23rd, 1.4200
Euros recoverying toward Resistance around the mid 1.4200's.Then Selling
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
October 23rd,1.1775 - Dollar now finds Support around 1.1720,1.1675 max.
to yield corrective recovery back toward Resistances at 1.1900 & 1.2000 .
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 23rd, 1.1775
Support /1735/1720/1700/ Dollar is undergoing a corrective recovery
** *** RESISTANCES ** ** & support probably found around 1.1720 for
Resistance /1785/1815/1850/ next leg of Dollar's advance toward 1.1900
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 23rd, 1.1775
Support found around 1.1720 for next leg of recovery toward 1.1900 level
------------------------------------------------------------------------

. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
October 23rd,2.0325 - Sterling's rallied well & support is probably next
found around the 1.9950 level for a resumption of Uptrend toward 2.1000.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.23rd, 2.0325
Support /0320/0300/0260/ Sterlings undergoing a correction,finding
** *** RESISTANCES ** ** resistance about the mid 2.0400s for next
Resistance /0410/0435/0450/ leg of corrective sell-off toward 2.0100.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 23rd, 2.0360
Sterlings recovering toward Resistance about 2.0435/0450 before Reversal
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
October 23rd,114.50 - Dollar finds Resistance around 115.75 ,116.20 max.
to yield decline below Key 113.25 toward 111.60 enroute the 109.00 level
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 23rd, 114.50
Support /1425/1400/1350/ Dollar recovering well toward Resistances
** *** RESISTANCES ** ** around 115.00,115.75 max.before Reversal,
Resistance /1490/1505/1575/ for return to the Key 113.25 Suport level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 23rd, 114.60
Still opportunity for recovery to extend to next Resistance about 115.00
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
October 23rd,.8880 - Ozzy's rallied nicely But resistance probably found
at .8950/8995 to risk a corrective sell-off below Key .8750 toward .8500
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 23rd, .8880
Support /8860/8810/8750/ Ozzys recovering well & probably extends
** *** RESISTANCES ** ** toward the .8950/.8995 Resistance area
Resistance /8915/8950/8995/ before exhaustion,for return to Key 8750
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 23rd, .8900
Ozzy recovering well twd Resistance about mid 8900's before risk of RVSL
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
OCT.23rd,.7480 - Kiwi has rallied nicely to 7730 But resistance found at
.7560,.7630 max.to risk corrective sell-off below Key .7365 toward .7100
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 23rd, .7480
Support /7470/7420/7365/ Kiwis recovering well & probably extends
** *** RESISTANCES ** ** toward Resistance around the mid .7500's
Resistance /7545/7560/7630/ before exhaustion,for return to Key 7365
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 23rd, .7510
Kiwi recovering well toward Resistance around .7560 before risk of RVSL.
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Monday, Oct 22nd

2007-10-22T08:35:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 22, 2007 11:24 AM
Subject: My LATEST FX Forecasts for OCTOBER 22nd
To: TRL

To View Forecasts in PDF Form, Click on Attachment

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
------------------------------

------------------------------------------
** ** 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.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 22nd, 1.4320
Looking to Buy about 1.4290 (Stop under 1.4245) for rally toward 1.4500.
------------------------------------------------------------------------

. ** 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 .
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.22nd, 2.0500
Support /0470/0440/0415/ Sterling has rallied well and support now
** *** RESISTANCES ** ** about 2.0470/2.0440 for the resumption of
Resistance /0520/0550/0590/ Uptrend twd the Key 2.0650 Resistance lvl
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 22nd, 2.0500
Suport found around 2.0470 (Stop under 2.0430) for next rally twd 2.0650
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
** ** 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
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 22nd, 1.1650
Resistance found at 1660/1700 for sell-off below 1620/1600 toward 1.1540
------------------------------------------------------------------------

. ** 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.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 22nd, 113.90
Support /1365/1350/1325/ Whilst holding the mid 1300's,opportunity
** *** RESISTANCES ** ** for recovery back twd 114.90,even 115.70.
Resistance /1420/1490/1570/ Loss of 113.50/113.25 targets Key 111.60.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 22nd, 114.00
Support about 113.65/113.50 to enable a recovery toward the 114.90 level
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** 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
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 22nd, .8885
Will Sell any Break of .8850 & again below Key .8815 (with a 30pt Stop).
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** 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
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 22nd, .7435
Will Sell any Break of .7400 & again below Key .7385 (with a 30pt Stop).
------------------------------------------------------------------------

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.

Forex Daily Analysis - Thursday, Oct 18th

2007-10-18T09:48:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 18, 2007 11:16 AM
Subject: My LATEST FX Forecasts for OCTOBER 18th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for THURSDAY - OCTOBER 18th

. ** 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
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 18th, 1.4205
Support /4215/4200/4185/ The Euro's corective consolidation persists
** *** RESISTANCES ** ** Whilst now holding Suport at 1.4185,looking
Resistance /4245/4280/4315/ for the resumption of Uptrend toward 1.4340
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 18th, 1.4230
Suport now at 1.4215/1.4200 to extend advance onto 1.4280,enroute 1.4340
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.18th, 2.0390
Support /0385/0370/0345/ Sterlings recovered well & Support now at
** *** RESISTANCES *** ** 2.0390/2.0375 for a resumption of Uptrend
Resistance /0435/0475/0495/ to 2.0500,enroute 2.0650 over coming days
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 18th, 2.0405
Looking for Sterling to rally beyond 2.0435 Resistance - toward 2.0500+
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 18th, 116.70
Support /1635/1620/1600/ Dollars probably completed correction and
** *** RESISTANCES *** ** finds support around the mid 116.00's for
Resistance /1660/1680/1720/ the resumption of Uptrend toward 118.00+.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 18th, 116.45
Whilst now holding 116.20,looking for rally to Key 117.20,enroute 118.00
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 18th, 1.1800
Support /1765/1725/1690/ The Dollars complex consolidation persists.
** *** RESISTANCES ** ** No clear indication of next S/T trend move,
Resistance /1800/1820/1845/ so waiting for the next trading opportunity
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 18th, 1.1775
Whilst 1.1800/1820 now contains yields sell-off toward 1.1725,then 1690.
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.8675 - Ozzys Uptrend developing well & Support now about
the 8600 level for advance toward .9130,enroute .9500 over coming months
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 18th, .8905
Support /8915/8900/8880/ Ozzy recovering as expected & support now
** *** RESISTANCES *** ** found about the 8890 level for resumption
Resistance /8925/8950/8975/ of Uptrend toward .9000,enroute to .9075+
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 18th, .8930
Support now about .8915/8900 to extend advance toward .9000,enroute 9075
------------------------------------------------------------------------

. ** 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.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 18th, .7515
Support /7500/7480/7445/ Kiwi recovering as expected & support now
** *** RESISTANCES *** ** found at .7500/7475 for the resumption of
Resistance /7540/7555/7590/ Uptrend twd the mid .7600's,enroute .7785
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 18th, .7520
Still looking for advance beyond .7555 onto .7590,enroute the mid 7600's
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Wednesday, Oct 17th

2007-10-17T11:17:00.000+01:00

From: Max McKegg - Technical Research Limited <max.mckegg@trl.co.nz>
Date: Oct 17, 2007 11:22 AM
Subject: My LATEST FX Forecasts for OCTOBER 17th
To: TRL <max.mckegg@trl.co.nz>

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for WEDNESDAY - OCTOBER 17th

. ** 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
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 17th, 1.4175
Support /4145/4115/4100/ Euro's sold-off as expected and resistance
** *** RESISTANCES ** ** is now around the 1.4200 level to yield an
Resistance /4200/4225/4240/ exhaustive decline twd 1.4115/4100 Support
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 17th, 1.4170
Looking to Buy exhaustive sell-off to about 4115,tight Stop under 1.4090
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 17th, 116.60
Support /1650/1635/1600/ Having met 116.85/116.70 corective target
** *** RESISTANCES *** ** whilst now holding Support about 116.35,
Resistance /1705/1735/1750/ looking for rally toward the mid 117.00's
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 17th, 116.60
Buying Dollar,Stop under 116.35,for rally back to 117.05,enroute 117.45.
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 17th, 1.1825
Support /1800/1785/1725/ Dollars corrective consolidation persists &
** *** RESISTANCES ** ** still threatens rally above Key 1.1880/1895
Resistance /1845/1880/1895/ Resistance for advance twd the 1.2000 level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 17th, 1.1815
Buying Dollar,Stop & Reverse under 1.1785(25pt Stop)for next trend move.
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.17th, 2.0325
Support /0295/0250/0190/ Sterlings sold-off to the low 2.0300 's as
** *** RESISTANCES *** ** expected.Not convinced corection complete
Resistance /0355/0380/0435/ yet & waiting for next Buying opportunity
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 17th, 2.0325
Waiting for clearer signals to yield next worthwhile trading opportunity
------------------------------------------------------------------------

. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.8675 - Ozzys Uptrend developing well & Support now about
the 8600 level for advance toward .9130,enroute .9500 over coming months
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 17th, .8875
Support /8870/8850/8825/ Ozzys sold-off to my 8900 target & whilst
** *** RESISTANCES *** ** now holding .8850,.8825 *max* looking for
Resistance /8915/8950/8980/ recovery back toward the mid/late .8900's
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 17th, .8885
Staying Bullish for rally beyond .8915 Resistance - toward .8950 & .8980
------------------------------------------------------------------------

. ** 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.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 17th, .7465
Support /7460/7435/7390/ Kiwi has sold-off to my 7500 target level
** *** RESISTANCES *** ** and now looking for recovery back toward
Resistance /7515/7550/7590/ Resistances around the 7550 & 7590 levels
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 17th, .7475
Support now about .7460/7435 to yield rally back to the mid/late .7500's
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Thursday, Oct 16th

2007-10-16T10:52:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 16, 2007 10:59 AM
Subject: My LATEST FX Forecasts for OCTOBER 16th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for TUESDAY - OCTOBER 16th

. ** 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
------------------------------

------------------------------------------
** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* October 16th, 1.4210
Support /4190/4160/4100/ Euro prob.undergoing complex correction &
** *** RESISTANCES ** ** whilst resistance at 1.4250/4280 contains,
Resistance /4220/4250/4280/ yields sell-off back toward the 1.4100 lvl
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 16th, 1.4205
Broad corrective consolidation persists.Awaiting next Buying opportunity
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 16th, 1.1805
Support /1780/1755/1740/ Dollars corrective consolidation prob.holds
** *** RESISTANCES ** ** support around the mid 117.00's to yield a
Resistance /1825/1850/1880/ rally beyond Key 1.1880/1895 toward 1.2000.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 16th, 1.1810
Dollars broad corective consolidation prob.gives-way to rally twd 1.2000
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.16th, 2.0420
Support /0390/0345/0315/ Sterling has recovered well But until Key
** *** RESISTANCES *** ** 2.0475/2.0500 resistance cleared yields a
Resistance /0440/0475/0500/ corrective reaction back to low 2.0300's.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 16th, 2.0435
Waiting for decline toward low 2.0300's to yield next Buying opportunity
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 16th, 117.40
Support /1715/1685/1670/ Until resistance at 117.65/117.95 cleared
** *** RESISTANCES *** ** Dollars corection probably extends toward
Resistance /1750/1765/1795/ 116.85/1670 before Uptrend resumes-119.00
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 16th, 117.35
Looking for sell-off toward 116.85/116.70 before next Buying opportunity
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 16th, .9005
Support /8960/8915/8890/ Ozzys sold-off to .9000 corrective target
** *** RESISTANCES *** ** but Resistance around .9035 prob.contains
Resistance /9010/9035/9075/ to extend corrective sell-off toward 8900
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 16th, .8985
Doubt strength beyond .9000 sustained,giving-way to sell-off toward 8900
------------------------------------------------------------------------

. ** 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.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 16th, .7630
Support /7595/7540/7500/ Kiwis sell-off exceeded target.Resistance
** *** RESISTANCES *** ** at .7660/7675 prob.now contains to extend
Resistance /7645/7660/7675/ corrective sell-off toward the 7500 level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 16th, .7620
Resistance at .7660/7675 to yield another sell-off toward the 7500 level
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Friday, Oct 12nd

2007-10-12T08:01:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 12, 2007 11:10 AM
Subject: My LATEST FX Forecasts for OCTOBER 12th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

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
------------------------------

------------------------------------------
** ** 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
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 12th, 1.4195
Still looking for a corrective sell-off back to around the 1.4100 level.
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* October 12th, 1.1810
Support /1800/1775/1725/ Yesterdays sell-off unimpressive and whilst
** *** RESISTANCES ** ** today holding Support at 1.1800/1.1775 area
Resistance /1835/1850/1895/ yields recovery onto 1.1900,enroute 1.2000.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 12th, 1.1815
Still looking for advance beyond 118.35/1850 Resistance - toward 1.1900+
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* October 12th, 117.30
Support /1720/1700/1665/ Dollar finds Resistance at 117.50/117.80,
** *** RESISTANCES *** ** to yield an exhaustive sell-off to around
Resistance /1750/1780/1820/ the mid 116.00's - before Uptrend resumes
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 12th, 117.35
Still risks exhaustive fall twd 116.65,116.40 max.Then Buying,for 118.50
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* October.12th, 2.0340
Support /0280/0255/0200/ Sterling's broad corrective consolidation
** *** RESISTANCES *** ** persists & resistance now at 2.0360/0390,
Resistance /0340/0360/0390/ with risk for sell-off back toward 2.0200
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 12th, 2.0325
Sterling still risks deeper sell-off today back toward the 2.0200 level.
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* October 12th, .9010
Support /8985/8945/8910/ Ozzy's rallied well but whilst resistance
** *** RESISTANCES *** ** around .9030,.9060 max.contains cautions
Resistance /9025/9035/9060/ risks of correction back toward .8900 lvl
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 12th, .9010
Waiting for better Buying levels,with risk of a correction toward .8900.
------------------------------------------------------------------------

. ** 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.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* October 12th, .7705
Support /7670/7615/7590/ Kiwi has rallied nicely to my 7730 target
** *** RESISTANCES *** ** Until .7730/7750 Resistance cleared risks
Resistance /7730/7745/7800/ corrective sell-off back toward .7600 lvl
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 12th, .7705
Will Sell any Break of .7670 (20pt Stop) for sell-off to .7620,even 7590
------------------------------------------------------------------------

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.

Forex Daily Analysis - Thursday, Oct 11st

2007-10-11T07:27:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 11, 2007 11:32 AM
Subject: My LATEST FX Forecasts for OCTOBER 11th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for THURSDAY - OCTOBER 11th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
October 9th,1.4050 - Euro has rallied nicely & support is now around the
1.4000 level for resumption of Uptrend toward 1.4570,enroute to 1.5000+
------------------------------

------------------------------------------
*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* OCT.11th, 1.4145
Support /4140/4125/4100/ Euro's recovered well & Support now about
** *** RESISTANCES *** ** 1.4125, 1.4075 max. for the resumption of
Resistance /4175/4210/4250/ Uptrend twd 1.4280 enroute the mid 4300's
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 11th, 1.4155
Whilst now holding 1.4140/4125 rallies back twd 4280.Else 4100 before Up
------------------------------------------------------------------------

. ** 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 the next advance onto 2.0650,enroute 2.1000+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* OCT.11th, 2.0420
Support /0385/0370/0340/ Sterling's recovered well and Support now
** *** RESISTANCES *** ** found at 2.0370,2.0340 max.for resumption
Resistance /0445/0475/0495/ of Uptrend toward 2.0650 over coming days
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 11th, 2.0400
Having tested Suport looking for rally back toward 2.0495,enroute 2.0650
------------------------------------------------------------------------

. ** 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+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* OCT.11th, 117.15
Support /1700/1685/1630/ Having met my corrective target at 116.90
** *** RESISTANCES *** ** looking for resumption of Dollars advance
Resistance /1730/1760/1820/ beyond Key 117.60 toward the 118.20 level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 11th, 117.20
Whilst now holding 117.00/116.85 looking for advance back toward 117.60+
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
October 9th,1.1860 - Having sold-off well,resistance around 1.2000 prob.
now contains for resumption of Downtrend toward 1.1300 over coming weeks
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* OCT.11th, 1.1830
Support /1810/1785/1725/ Dollar has sold-off well and Resistance at
** *** RESISTANCES *** ** 1.1870/1895 now contains to yield sell-off
Resistance /1845/1870/1895/ below Key 1.1800/1785 toward 1.1700 & 1620
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 11th, 1.1830
Looking for Sell-off below Key 1.1800/1.1785 Support to the 1.1700 level
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* OCT.11th, .8970
Support /8970/8960/8945/ Ozzys corrective consolidation persists &
** *** RESISTANCES *** ** looking for resumption of Uptrend beyond
Resistance /9010/9035/9100/ Key .9010/.9035 Resistance - toward .9130
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 11th, .8990
Still looking for rally above Key .9010/.9035 Resistance - toward .9135.
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.7435 - Kiwis Uptrend developing well & Support now about
the mid 7300's for advance toward .7730,enroute .8100 over coming months
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* OCT.11th, .7615
Support /7620/7600/7590/ Kiwis corrective consolidation persists &
** *** RESISTANCES *** ** looking for resumption of Uptrend beyond
Resistance /7660/7675/7700/ Key .7660/7675 Resistance - toward .7730
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 11th, .7635
Still looking for rally above Key .7660/.7675 Resistance - toward .7730.
------------------------------------------------------------------------

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.

Forex Daily Analysis - Wednesday, Oct 10th

2007-10-10T08:26:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 10, 2007 11:38 AM
Subject: My LATEST FX Forecasts for OCTOBER 10th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for WEDNESDAY - OCTOBER 10th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
October 9th,1.4050 - Euro has rallied nicely & support is now around the
1.4000 level for resumption of Uptrend toward 1.4570,enroute to 1.5000+
------------------------------

------------------------------------------
*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* OCT.10th, 1.4100
Support /4075/4060/4035/ The Euro's recovery is impressive.Support
** *** RESISTANCES *** ** is probably today found around 1.4065 for
Resistance /4120/4155/4185/ the resumption of Uptrend toward 1.4280+
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 10th, 1.4100
Looking to Buy around 1.4065 (Stop under 1.4030) for rally toward 1.4280
------------------------------------------------------------------------

. ** 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.
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* OCT.10th, 117.10
Support /1700/1685/1630/ Having met my corrective target at 116.90
** *** RESISTANCES *** ** looking for resumption of Dollars advance
Resistance /1730/1760/1820/ beyond Key 117.60 toward the 118.20 level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 10th, 117.20
Staying Bullish,Stop under 116.85,for rally onto 117.60 - enroute 118.20
------------------------------------------------------------------------

. ** 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 the next advance onto 2.0650,enroute 2.1000+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* OCT.10th, 2.0370
Support /0340/0315/0280/ Sterlings recovered well.Support probably
** *** RESISTANCES *** ** today found in the low 2.0300's for the
Resistance /0415/0445/0495/ resumption of GBP's Uptrend toward 2.0650
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 10th, 2.0380
Looking to Buy around 2.0320,Stop under 2.0280,for rally toward 2.0500+
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
October 9th,1.1860 - Having sold-off well,resistance around 1.2000 prob.
now contains for resumption of Downtrend toward 1.1300 over coming weeks
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* OCT.10th, 1.1840
Support /1825/1785/1730/ Having sold-off from 1.1900,Resistance now
** *** RESISTANCES *** ** about 1.1855/1.1880 for the resumption of
Resistance /1855/1870/1900/ Downtrend toward 1.1730,enroute Key 1.1620
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 10th, 1.1830
Looking to Sell around the 1.1870 level,Stop at 1.1901,for next Sell-off
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* OCT.10th, .8995
Support /8975/8960/8945/ Ozzy has recovered well & suport probably
** *** RESISTANCES *** ** now found at 8980/8950 for the resumption
Resistance /9010/9035/9100/ of Uptrend toward my next target of .9130
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 10th, .8985
Staying Bullish (Stop under 8930) for next advance toward the 9130 level
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.7435 - Kiwis Uptrend developing well & Support now about
the mid 7300's for advance toward .7730,enroute .8100 over coming months
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* OCT.10th, .7645
Support /7620/7590/7565/ Kiwi's recovered well & support now found
** *** RESISTANCES *** ** at 7630/7605 area to yield the resumption
Resistance /7660/7675/7700/ of Uptrend toward my next target of .7730
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 10th, .7630
Await rally above .7660/7675 Resistance to herald advance to 7730 target
------------------------------------------------------------------------

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.

Forex Daily Analysis - Tuesday, Oct 9th

2007-10-09T10:20:00.000+01:00

EUR Offered Ahead of G7

Thin trading volume yesterday as Canada, Japan and the CBOT in the US were closed sent USD and carries higher. Nasdaq closing in 2007 highs.

Overnight News Bullets

* SZ Unemployment Rate (Sep) out at 2.5% as expected.
* AU Foreign Reserves (Sep) out at A$52.7B vs. A$70.4B prior.
* UK PPI Input MoM/YoY (Sep) out at 3.2%/6.4% vs. 1.5%&4.4% expected. PPI Output MoM/YoY out at 0.1%/2.7% vs. 0.2%/2.9% expected.
* UK PPI Output Core MoM/YoY (Sep) out at 0.2%/2.2% vs. 0.2%/2.4% expected.
* UK Industrial Production MoM/YoY (Aug) out at 0.1%/0.9% vs. 0.3%/0.9% expected.
* UK Manufacturing Production MoM/YoY (Aug) out at 0.4%/0.6% vs. 0.4%/0.5% expected.
* GE Factory Orders MoM/YoY (Aug) out at 1.2%/4.0% vs. 2.2%/4.5% expected.
* NZ NZIER GDP Estimate (Sep) out at -27 vs, -37 prior.
* UK NIESR FDP Estimate (Sep) out at 0.7% as prior.
* JN Eco Watchers Survey (Sep): Current at 42.9 vs. 45.3 expected. Outlook at 46.0 vs. 46.5 prior.

Market

* FX: The USD regained some of Friday's losing ground on a quiet day. Carries also went higher.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
-	0	-	-	0	-	0	-	0	0	0

Read More... >>

Forex Daily Forecasts - Tuesday, Oct 9th

2007-10-09T08:11:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 9, 2007 11:58 AM
Subject: My LATEST FX Forecasts for OCTOBER 9th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for TUESDAY - OCTOBER 9th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
October 9th,1.4050 - Euro has rallied nicely & support now around 1.3900
for the resumption of Uptrend toward the 1.4570 level,enroute to 1.5000+
------------------------------

------------------------------------------
*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* OCT.9th, 1.4050
Support /3975/3930/3900/ The Euro's correction persists & probably
** *** RESISTANCES *** ** now extends to the late 3900's,1.3900 max
Resistance /4035/4060/4100/ before Reversal,for rally back twd 1.4280
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 9th, 1.4020
Resistance now at 1.4035/4060 to extend correction twd 1.3975,1.3900 max
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
September 27th,115.45 - Dollar's consolidation persists & whilst holding
Support at 114.00 yields advance beyond Key 116.40 toward the 120.00 lvl
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* OCT.9th, 117.35
Support /1690/1665/1630/ Dollars rallied as expected & support now
** *** RESISTANCES *** ** probably found about 116.90 for the next
Resistance /1730/1760/1800/ leg of Dollar's advance toward 118.00 lvl
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 9th, 117.10
Buying Dollar about 116.90,Stop under 116.30,for next rally toward 118.0
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
October 9th,1.1860 - Having sold-off well,resistance around 1.2000 prob.
now contains for resumption of Downtrend toward 1.1300 over coming weeks
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* OCT.9th, 1.1860
Support /1865/1850/1825/ The Dollars corrective recovery persists &
** *** RESISTANCES *** ** next Resistance found at 1.1920,1.2000 max
Resistance /1920/1950/2000/ with RVSL then heralding return to 1.1740.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 9th, 1.1875
Support now at 1.1865/1.1850 to yield attempt at 1.1920 Resistance level
------------------------------------------------------------------------

. ** 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 the next advance onto 2.0650,enroute 2.1000+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* OCT.9th, 2.0370
Support /0300/0280/0230/ Sterling corective consolidation persists
** *** RESISTANCES *** ** and risks another sell-off toward Support
Resistance /0360/0375/0405/ at 2.0300/2.0280 & then the 2.0230 level.
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 9th, 2.0330
Resistance now about 2.0360,2.0375 max.to extend to 2.0300/0280 & 2.0230
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* OCT.9th, .8925
Support /8890/8865/8850/ Ozzy's rallied well to .9000 & correction
** *** RESISTANCES *** ** probably now finds Support around the mid
Resistance /8950/8965/9000/ 8800's for RVSL & rally back toward .9035
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 9th, .8925
Resistance now at 8950/8965 for exhaustive sell-off to around mid 8800's
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.7435 - Kiwis Uptrend developing well & Support now about
the mid 7300's for advance toward .7730,enroute .8100 over coming months
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* OCT.9th, .7615
Support /7605/7580/7565/ Kiwi has rallied nicely but Resistance at
** *** RESISTANCES *** ** 7630/7645 probably now contains to extend
Resistance /7630/7645/7670/ correction toward .7575 before exhaustion
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 9th, .7615
Resistance is now about 7630,.7645 max.to extend correction toward .7575
------------------------------------------------------------------------

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.

Forex Daily Forecasts - Monday, Oct 8th

2007-10-08T09:54:00.000+01:00

From: Max McKegg - Technical Research Limited
Date: Oct 8, 2007 11:19 AM
Subject: My LATEST FX Forecasts for OCTOBER 8th
To: TRL

To View Forecasts in PDF Form, Click on Attachment

My FX Forecasts for MONDAY - OCTOBER 8th

. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
September 24th,1.4090 - Euro's Uptrend developing nicely and Support now
at 1.4050/1.4000 for the next advance toward 1.4570 - enroute to 1.5000+
------------------------------

------------------------------------------
*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* OCT.8th, 1.4135
Support /4115/4100/4085/ Euro's completed correction & Support now
** *** RESISTANCES *** ** around the 1.4100 level for a resumption
Resistance /4160/4200/4245/ of Uptrend onto 1.4200 enroute to 1.4280+
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 8th, 1.4135
Will use any reaction to around 1.4100 to Buy (with a Stop under 1.4060)
------------------------------------------------------------------------

. ** 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 the next advance onto 2.0650,enroute 2.1000+
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* OCT.8th, 2.0420
Support /0400/0365/0340/ Sterlings rallied nicely & Support is now
** *** RESISTANCES *** ** about 2.0400,the mid 2.0300's max.for the
Resistance /0445/0495/0550/ resumption of Uptrend toward 2.0650 level
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 8th, 2.0425
Will use any reaction toward 2.0370 to Buy Today,with Stop under 2.0330.
------------------------------------------------------------------------

. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
SEPT.24th,1.1725 - Dollar's sold-off well & resistance now around 1.1800
for the resumption of Downtrend toward 1.1350 & 1.1000 over coming weeks
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* OCT.8th, 1.1780
Support /1760/1740/1715/ Dollar has probably completed correction &
** *** RESISTANCES *** ** resistance at 1.1800-1830 now contains for
Resistance /1800/1820/1855/ resumption of Downtrend to 1.1715 & 1.1620
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 8th, 1.1780
Looking to Sell 1.1800-1820 (Stop above 1.1850) for 1.1715,enroute 1620.
------------------------------------------------------------------------

. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
September 27th,115.45 - Dollar's consolidation persists & whilst holding
Support at 114.00 yields advance beyond Key 116.40 toward the 120.00 lvl
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* OCT.8th, 116.90
Support /1690/1665/1630/ Dollar found Suport about 116.30 target &
** *** RESISTANCES *** ** rallied nicely.Looking for this recovery
Resistance /1730/1770/1800/ to extend toward my next target of 117.70
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 8th, 117.15
Support now at 116.90/116.65 to extend the Dollar's advance onto 117.70.
------------------------------------------------------------------------

. ** 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
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* OCT.8th, .8990
Support /8990/8965/8940/ Ozzy has rallied nicely to my 9000 target
** *** RESISTANCES *** ** & support is now .8980/.8965 extending
Resistance /9035/9065/9100/ Uptrend toward my next target about .9130
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 8th, .9010
Support now about .8990,.8965 max.for rally toward .9065,enroute to 9130
------------------------------------------------------------------------

. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
September 24th,.7435 - Kiwis Uptrend developing well & Support now about
the mid 7300's for advance toward .7730,enroute .8100 over coming months
------------------------------------------------------------------------
*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* OCT.8th, .7620
Support /7635/7620/7600/ Kiwi has rallied nicely & with Suport now
** *** RESISTANCES *** ** around the 7600 level looking for Uptrend
Resistance /7670/7700/7730/ to extend onto .7670 enroute the 7730 lvl
------------------------------------------------------------------------
. *EUROPEAN UPDATE* October 8th, .7650
Rallying well.Support now about .7635/7620,extending Uptrend toward 7730
------------------------------------------------------------------------

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.

Forex Daily Analysis - Friday, Oct 5th

2007-10-05T09:42:00.000+01:00

USD found support yesterday supported by a weak EUR, but USD/Majors back in ranges ahead of US data.

Overnight News Bullets

* UK HBOS Plc houses Sep, out at -0.6% vs 0.4% exp. YoY out at 10.7% vs 11.1% exp.
* UK BoE leaves interest rates at 5.75% as expected.
* EC ECB leaves rates at 4.00% as was market consensus.
* US Initial Jobless Claims Sep 29, out at 317K vs 310K exp.
* US Continuing Claims Sep 22, out at 2541K vs 2550K exp.
* CA Building Permits Aug, out at 1.4% vs 1.6% exp.
* CA Ivey Purhasing Managers Index Sep, out at 56 vs 60 exp.
* US EIA Natrural Gas Storage Change Sep 28, out at 57 vs 65 exp.
* JN Official Reserve Assets Sep, out at $945.6B vs a prior reading of $932.2B.
* JN Leading Economic Index Aug, out at 30.0% in line with exp.
* JN Coincident Index Aug, out at 83.3% in line with exp.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
	-		-			-

Read More... >>

Forex Daily Forecasts - Friday, Oct 5th

2007-10-05T08:50:00.000+01:00

By Crown Forex | Oct 05 07 07:03 GMT

Technical Analysis for Major Currencies

EURO

The European currency tended to end the downside correction after it faced the solid support level at 1.4060. In the meantime, the technical studies reflect some bullish potential after the euro stopped the downside correction to hold the euro up until the levels of 1.4150s.

The trading range for today might be between the key resistance level at 1.4230 and the key support level at 1.4050.

The general trend is up as far as 1. 3470 remains intact targets now at 1.4500 and 1.4780

Support: 1.4068, 1.4032, 1.4010, 1.3977, 1.3950
Resistance: 1.4121, 1.4157, 1.4187, 1.4202, 1.4228

Recommendation: We expect buying Euro above 1.4115 with a target at 1.4185, stop loss below 1.4060.

GBP

The British pound yesterday reached the downside band which is a very critical support to hold the pound up towards the upside as long as the technical parameters show some reversal signals. Therefore, we expect the pound to move in a progressive pattern towards the upside with new target at 2.0700 in the week ahead.

The trading range for today might be between the key resistance level at 2.0500 and the key support level at 2.0320.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740

Support: 2.0350, 2.0325, 2.0305, 2.0280, 2.0262
Resistance: 2.0380, 2.0405, 2.0424, 2.0448, 2.0495

Recommendation We expect buying sterling above 2.0380 with a target at 2.0490 stop loss below 2.0325

JPY

The dollar against the Japanese yen remained so quiet yesterday at the peak of the bullish wave it formed the week ago. The technical studies show the currency had reached to the over bought area which in role pushed it down again.

The trading range for today will be between the key resistance at 117.40 and the key support at 115.40.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 116.34, 116.17, 115.88, 115.57, 115.30
Resistance: 116.50, 116.90, 117.21, 117.42, 117.65

Recommendation: We expect selling USD/JPY below 116.65 with a target at 115.40, stop loss above 117.00.

CHF

The dollar against the SWISS Frank formed a reversal pattern after it couldn't break the tough resistance at 1.1815 to reach the downside target at 1.1730s again. The expected move for the currency might be towards the downside.

The trading range for today will be between the key resistances at 1.1830 the key support at 1.1650.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665 and 1.1445.

Support: 1.1750, 1.1726, 1.1705, 1.1680, 1.1645
Resistance: 1.1778, 1.1802, 1.1819, 1.1845, 1.1865

Recommendation: We expect selling USD/CHF below 1.1765 with a target at 1.1685, stop loss above 1.1800.

CAD

The dollar against the Canadian remained quiet due to the low volume without major moves, and that is because the pair was unable to breach the key resistance level at 1.0020s. Today we expect it to move towards the downside.

The trading range for today will be between the key resistance at 1.0060 and the key support at 0.9870.

The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450.

Support: 0.9950, 0.9931, 0.9900, 0.9875, 0.9850
Resistance: 0.9985, 1.0025, 1.0045, 1.0065, 1.0095

Recommendation: We expect selling USD/CAD below 0.9980 with a target at 0.9900, stop loss above 1.0025.

Technical Analysis for Crosses

GBP/JPY

The Pound against the Yen is still consolidating, as the pair is yet to form a bullish wave that will take the pair to the next target at the 238.08 level, the general trend is still to the upside, and the point at 236.57 seems to offer good demand for the pair

Support: 236.94, 236.57, 236.10, 235.85, 235.36
Resistance: 237.52, 238.04, 238.57, 238.93, 239.35

EUR/JPY

The Euro is also consolidating against the Yen, as the pair started heading towards the upside once again, to progress the pair's general trend, the target is set to be above the 166 level, and the point at 163.93 seems to offer good demand for the pair.

Support: 164.30, 163.93, 163.66, 163.39, 163.12
Resistance: 164.61, 164.91, 165.22, 165.59, 165.89

EUR/GBP

The Euro gained back slightly against the Pound, after the pair completed the 38.2% correction on febunacci's retracement, yet the general trend for the pair is still to the upside, and the target is still at the 0.0754 level, and the point at 0.6916 seems to offer strong demand for the pair.

Support: 0.6937, 0.6927, 0.6916, 0.6900, 0.6890
Resistance: 0.6957, 0.6969, 0.6980, 0.6990, 0.7002

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

How To Trade The US NFPs Release

2007-10-05T00:05:00.000+01:00

Written by John Kicklighter, Currency Analyst, DailyFX
Thursday, 04 October 2007 13:14:56 GMT

The non-farm payrolls release has not only been the consistent top market mover for the US dollar, it is arguably the most influential fundamental indicator for the entire FX market. Further adding to the employment number’s clout, this month’s report comes just after the first negative print in four years. As such, many market participants, economists and policy makers believe the world’s largest economy is coming to a major turning point. For years, strong employment trends have supported the economy’s primary engine: consumer spending.

Read More... >>

What About Canadian Employment?

2007-10-04T23:39:00.000+01:00

Written by Kathy Lien, Chief Currency Strategist
Thursday, 04 October 2007 21:41:02 GMT

Even though most traders will be focused on the US non-farm payrolls report tomorrow, with the Canadian dollar hovering near its 31 year highs, Canada’s employment report will be important as well.

The market is currently looking for stronger payroll growth, but the employment component of the September IVEY PMI report suggests otherwise. The IVEY dropped from 58.5 to 56, but the employment component fell to the lowest level since February. In the past, the IVEY has done a good job of forecasting Canadian employment, which is why tomorrow’s number could help trigger gains in USD/CAD. The Australian and New Zealand dollars also performed very well today. Both pairs are up strongly thanks to a jump in commodity prices and stronger Australian service sector PMI. The Australian economy is doing well, fueling speculation for another rate hike.

Written by Kathy Lien, Chief Currency Strategist for DailyFX.com

Forex Daily Analysis - Thursday, Oct 4th

2007-10-04T09:19:00.000+01:00

By Rcpl Forex

Currency Daily Update

Cable's fall continued to the extent of 2.0280 levels yesterday where it gained support from the 50% Retracement (as seen in the above daily chart). Unable to sustain at higher levels; cable is currently trading around 2.03 levels with the daily & weekly stochastic still overbought. The immediate support for cable is around 2.0260 levels (21 Days EMA & 61.8% Retracement). Breaking of this level on the downside can further push cable to the levels of 2.0200 (200 Days EMA in the 4-hrly Chart).The key focus of the day is the BOE interest rate decision at 16:30 IST today.

STRATEGY: Look for opportunities to short at higher levels around 2.0330 with a target that Cable could retrace upto 2.0250 -260 levels and stop above 2.0450 levels.

Read More... >>

Forex Daily Forecasts - Thursday, Oct 4th

2007-10-04T09:06:00.000+01:00

By Crown Forex

Technical Analysis for Major Currencies

EURO

The European currency dropped down yesterday extending the downside wave since it couldn't breach the key resistance at 1.4200. The Euro succeeded to break the minor upside trend line to hit the low at 1.4070s. Hence, we expect it to progress today towards the downside until the levels of 1.4000.

The trading range for today might be between the key resistance level at 1.4120 and the key support level at 1.3970.

The general trend is up as far as 1. 3470 remains intact targets now at 1.4500 and 1.4780.

Support: 1.4068, 1.4032, 1.4010, 1.3977, 1.3950
Resistance: 1.4121, 1.4157, 1.4187, 1.4202, 1.4228

Recommendation: We expect selling Euro below1.4120 with a target at 1.4000, stop loss above 1.4160.

GBP

The British pound yesterday managed to move towards the downside since it failed to keep the bullish potential. Meanwhile, the technical studies have adjusted to reflect the downside movements for today as well.

The trading range for today might be between the key resistance level at 2.0420 and the key support level at 2.0220.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0305, 2.0280, 2.0262, 2.0235, 2.0200
Resistance: 2.0325, 2.0350, 2.0380, 2.0405, 2.0424

Recommendation: We expect selling sterling below 2.0340 with a target at 2.0260 stop loss above 2.0385

JPY

The dollar against the Japanese yen just started the real move yesterday passing the upside band in an irregular pattern with obvious high levels of volume. Nevertheless, the technical parameters still show some weakness in the upside direction.

The trading range for today will be between the key resistance at 117.70 and the key support at 115.40.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 116.50, 116.34, 116.17, 115.88, 115.57
Resistance: 116.90, 117.21, 117.42, 117.65, 117.85

CHF

The dollar against the SWISS Frank took another step yesterday towards the upside correction from the solid support at 1.1715 to reach the critical resistance level at 1.1800. In fact, the technical studies reflected the upside potential after the pair broke through the minor downside trend line.

The trading range for today will be between the key resistances at 1.1850 the key support at 1.1680.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665 and 1.1445.

Support: 1.1802, 1.1778, 1.1750, 1.1726, 1.1705
Resistance: 1.1819, 1.1845, 1.1865, 1.1887, 1.1800

Recommendation: We expect buying USD/CHF above 1.1775 with a target at 1.1845, stop loss below 1.1730.

CAD

The dollar against the Canadian remained quiet despite hitting the low at the important level at 0.9930s. The pair has some bullish potential in the short term but the tendency it still to the downside as the currency kept trading below the downside trend line.

The trading range for today will be between the key resistance at 1.0080 and the key support at 0.9890.

The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450.

Support: 0.9950, 0.9931, 0.9900, 0.9875, 0.9850
Resistance: 0.9985, 1.0025, 1.0045, 1.0065, 1.0095

Technical Analysis for Crosses

GBP/JPY

The Pound inclined against the Yen yesterday, yet could not hold above the 237.08 resistance represented by the 200 MA, even if the general trend is up, the pair has to breach this resistance in order to continue the upside move, and the point at 236.10 seems to offer good demand for the pair.

Support: 236.54, 236.10, 235.86, 235.30, 234.68
Resistance: 236.97, 237.52, 238.02, 238.51, 239.00

EUR/JPY

Yesterday the Euro also inclined against the Yen, yet declined back in a correctional move, the pair is still gathering some momentum to take it to the upside and reach the first target at the 166.10 level, and the point at 163.76 seems to offer good demand for the pair.

Support: 164.23, 163.99, 163.76, 163.40, 163.04
Resistance: 164.59, 164.87, 165.22, 165.58, 165.90

EUR/GBP

The Euro started gaining against the Pound, and the pair moved slightly to the upside, the general trend for the pair is still to the upside, and the long term target remains around the 0.7064 level, and the point at 0.6924 seems to offer good demand for the pair.

Support: 0.6935, 0.6924, 0.6912, 0.6900, 0.6890
Resistance: 0.6957, 0.6969, 0.6980, 0.6990, 0.7002

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Wednesday, Oct 3rd

2007-10-03T08:45:00.000+01:00

Currency Daily Update
By Rcpl Forex

Cable plummeted to the levels of 2.0367 yesterday; once again taking support near 38.2% Retracement and 21 Days EMA in the 4-hourly Chart (as seen in the chart above). Despite the weaker Pending Home Sales data of the US yesterday; cable could not sustain at higher levels. Currently cable is trading around 2.0420 levels where the daily & weekly stochastic is overbought and further cable may retrace to the levels of 2.0365 again. Breaking of this level can push cable to the levels of 2.0260.
Read More... >>

Forex Daily Forecasts - Wednesday, Oct 3rd

2007-10-03T08:39:00.000+01:00

By Crown Forex

Technical Analysis for Major Currencies

EURO

As the European currency failed to create an upside moves since it couldn't get over the critical resistance level at 1.4230. The Euro dropped down yesterday with heavy volume on the selling side as a result of profit taking to reach down to the major support level at 1.4130s, this move affected by the technical patterns that might drag the Euro down today to 1.4070 levels.

The trading range for today might be between the key resistance level at 1.4200 and the key support level at 1.4050.

The general trend is up as far as 1. 3470 remains intact targets now at 1.4500 and 1.4780

Support: 1.4132, 1.4110, 1.4077, 1.4050, 1.4020
Resistance: 1.4168, 1.4185, 1.4230, 1.4257, 1.4287

Recommendation: We expect selling the Euro above 1.4180 with a target at 1.4100, stop loss above 1.4230.

GBP

The calm trading yesterday pushed the British pound to drop down hitting the key support level as low as 2.0370s, keeping in mind that the pound managed to cover some of its bearish move to hit 2.0420 levels; today we expect the pound to drop down until 2.0300 levels.

The trading range for today might be between the key resistance level at 2.0490 and the key support level at 2.0290.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740

Support: 2.0405, 2.0380, 2.0345, 2.0325, 2.0300
Resistance: 2.0425, 2.0450, 2.0480, 2.0505, 2.0530

Recommendation: We expect selling sterling below 2.0440 with a target at 2.0350 stop loss above 2.0485

JPY

The US dollar against the Japanese Yen fluctuated in a balanced move below the critical resistance level at 116.00; the Japanese Yen still within the same narrow ranges, and that could be the reason that kept it fluctuating in a calm trading.

The trading range for today will be between the key resistance at 116.40 and the key support at 114.00.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 115.58, 115.30, 115.10, 114.85, 114.58
Resistance: 115.80, 115.90, 116.25, 116.42, 116.60

CHF

A big jump affected the US dollar against the SWISS Frank to form the bottom, at the end of the long bearish wave, since it got above the critical resistance level at 1.1720s, hence we expect a bullish movements for the pair in the upcoming days.

The trading range for today will be between the key resistances at 1.1850 the key support at 1.1680.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665and 1.1445.

Support: 1.1719, 1.1702, 1.1678, 1.1650, 1.1626
Resistance: 1.1745, 1.1765, 1.1787, 1.1800, 1.1824

Recommendation: We expect buying USD/CHF above 1.1725 with a target at 118.00, stop loss below 1.1680.

CAD

The US dollar against the Canadian is about to form a bottom in current area that might lead the currency towards the upside in terms of projection; the technical indicators show the upside potential without confirmations yet.

The trading range for today will be between the key resistance at 1.0080 and the key support at 0.9890.

The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450.

Support: 0.9950, 0.9931, 0.9900, 0.9875, 0.9850
Resistance: 0.9985, 1.0025, 1.0045, 1.0065, 1.0095

Recommendation: We expect buying USD/CAD above 0.9970 with a target at 1.0050, stop loss below 0.9930.

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Tuesday, Oct 2nd

2007-10-02T10:19:00.000+01:00

Kiwi data continues to give a helping hand

Once again macro data from New Zealand was able to surprise both analysts and investors through Asian trading. Yesterday it was the CA and today growth surprised with a reading of 3.2% YOY vs 2.6 exp

Overnight News Bullets

* NO Credit Indicator Growth YoY (Aug) out at 14.8% vs. 14.6% expected.
* E-Z PMI Manufacturing (Sep) out at 53.2 as expected.
* UK Money Supply MoM/YoY (Aug F) out at 1.2%/13.5% as prior.
* UK Consumer Credit (Aug) out at 0.9B vs. 1.0B expected. Prior at 1.1B.
* UK Mortgage Approvals (Aug) out at 109K vs. 110K expected.
* UK BoE Housing Equity Withdrawal (2Q) out at 10.0B vs. 12.6B expected.
* US ISM Manufacturing (Sep) out at 52.0 vs. 52.6 expected. Prior at 52.9. ISM Prices Paid out at 59 vs. 62 expected. Prior at 63.
* JN Monetary Base YoY (Sep) out at 0.1% vs. 0.7% expected.
* SZ CPI MoM/YoY (Sep) out at 0.1%/0.7% vs. 0.2%/0.8% expected.

Market

* FX: USD coming back slightly, JPY selling off in fairly quiet day. US housing to be key today.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
	-	-	-	-

Read More... >>

Forex Daily Forecasts - Tuesday, Oct 2nd

2007-10-02T10:14:00.000+01:00

By Crown Forex

Technical Analysis for Major Currencies

EURO

The European currency dropped down yesterday since it found tendency to move towards the key support level at 1.4210. We expect the downside move has ended by hitting the mentioned support, by which the Euro might rebound to the upside today.

The trading range for today might be between the key resistance level at 1.4320 and the key support level at 1.4150.

The general trend is up as far as 1. 3470 remains intact targets now at 1.4500 and 1.4780.

Support: 1.4238, 1.4210, 1.4173, 1.4144, 1.4100
Resistance: 1.4265, 1.4290, 1.4321, 1.4337, 1.4357

Recommendation: We expect buying Euro above 1.4220 with a target at 1.4300, stop loss below 1.4180.

GBP

The low volume played a significant role to restrict the British pound's movements yesterday to fluctuate in a balanced pattern since it couldn't breach the tough resistance level at 2.0490s to fall until the levels of 2.0370s to record the low. Nevertheless, today we expect a bullish move to hold the pound up until the previous resistance at 2.0530s.

The trading range for today might be between the key resistance level at 2.0560 and the key support level at 2.0350.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0425, 2.0405, 2.0380, 2.0345, 2.0325
Resistance: 2.0450, 2.0480, 2.0505, 2.0530, 2.0550

Recommendation: We expect buying sterling above 2.0420 with a target at 2.0520 stop loss below 2.0370

JPY

The dollar against the Japanese yen tended to move in a bullish pattern towards the tough resistance level at 116.00 within the same lateral trading channel. This consolidation was due to the restrictions that the currency has made with the narrow ranges.

The trading range for today will be between the key resistance at 116.20 and the key support at 113.80.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 115.58, 115.30, 115.10, 114.85, 114.58
Resistance: 115.80, 115.90, 116.25, 116.42, 116.60

CHF

The dollar against the SWISS Frank walked towards the key resistance level yesterday keeping the tendency towards the downside within the main direction. Yet, the technical parameters indicate the downside potential as long as the pair stays below 1.1800 resistance level.

The trading range for today will be between the key resistances at 1.1780 the key support at 1.1560.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665 and 1.1445.

Support: 1.1619, 1.1602, 1.1578, 1.1550, 1.1526
Resistance: 1.1645, 1.1665, 1.1687, 1.1700, 1.1724

Recommendation: We expect selling USD/CHF below 1.1710 with a target at 1.1630, stop loss above 1.1750.

CAD

The dollar against the Canadian Dollar remained quiet yesterday without significant movements affecting the currency trend so far. However, today we see some bearish intendance explained by the continuation pattern that the technical indicators show.

The trading range for today will be between the key resistance at 1.0000 and the key support at 0.9800.

The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450.

Support: 0.9900, 0.9875, 0.9850, 0.9830, 0.9810
Resistance: 0.9931, 0.9950, 0.9985, 1.0025, 1.0045

Recommendation: We expect selling USD/CAD below 0.9930 with a target at 0.9835, stop loss above 0.9970.

Technical Analysis for Crosses

GBP/JPY

The Pound inclined yesterday against the Yen and reached the target at 237.00s yet could not breach it, as the pair declined back; the target is still the same at the 237.00s, and the point at 234.68 seems to offer good demand for the pair.

Support: 235.18, 234.68, 234.07, 233.70, 233.39
Resistance: 235.30, 235.80, 236.10, 236.54, 236.97

EUR/JPY

The Euro also gained against the Yen yesterday before starting heading to the downside in a correctional move, and the target is the 166.12, and the point at 163.40 seems to offer good demand for the pair.

Support: 163.72, 163.40, 163.04, 162.68, 162.41
Resistance: 164.03, 164.35, 164.71, 164.95, 165.22

EUR/GBP

The Euro gained back against the Pound, as the pair started heading towards the upside today to continue the general upside trend, the long term target is the 0.7078 level, and the point at 0.6941 seems to offer good demand for the pair.

Support: 0.6957, 0.6941, 0.6925, 0.6913, 0.6903
Resistance: 0.6969, 0.6980, 0.6990, 0.7004, 0.7019

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Monday, Oct 1st

2007-10-01T09:03:00.000+01:00

USD weakness continues

USD continues lower, despite better than expected data on Friday. The sentiment is still bearish.

Overnight News Bullets

* SW Retail Sales Aug, out at -0.9% vs 0.3% exp. YoY out at 7.3% vs 8.9% exp.
* NO Retail Sales Aug, out at -0.5% vs 0.6% exp. YoY out at 7.0% vs 8.6% exp.
* NO Unemployment Rate (AKU) July, out at 2.5% in line with exp.
* EC Consumer Confidence Sep, out at -5 vs -4 exp.
* EC Indust. Confidence Sep, out at 3 vs 4 exp.
* EC Business Climate Indicator Sep, out at 1.09 vs 1.30 exp.
* EC CPI Estimate (YoY) Sep, out at 2.1% in line with exp.
* EC Economic Confidence Sep, out at 107.1 vs 109.0 exp.
* EC Services Confidence Sep, out at 18 vs 19 exp.
* UK Gfk Consumer Confidence Sep, out at -7 vs -6 exp.
* GE IFO Business Climate Industry Sep, out at 18.2 vs a prior reading of 18.2.
* US Personal Income Aug, out at 0.3% vs 0.4% exp.
* US Personal Spending Aug, out at 0.6% vs 0.4% exp.
* US PCE Deflator (YoY) Aug, out at 1.8% vs 1.7% exp.
* US PCE Core Aug, out at 0.1% in line with exp. YoY out at 1.8% in line with exp.
* CA GDP July, out at 0.2% vs 0.3% exp.
* CA Industrial Product Price Aug, out at -1.0% vs -0.5% exp.
* JN Tankan Lge Manufactures Index Q3, out at 23 vs 21 exp.
* JN Tankan Lge Mfg Outlook Q3, out at 19 vs 20 exp.
* JN Tankan Non-Manufacturing Q3, out at 20 vs 21 exp.
* JN Tankan Non-Mfg Outlook Q3, out at 21 in line with exp.
* JN Tankan Large All Indust Capex Q3, out at 21 in line with exp.
* JN Labor Cash Earnings (YoY) Aug, out at 0.1% vs a prior reading -1.7%.
* JN Overtime Earnings (YoY) Aug, out at 1.2% vs a prior reading -0.1%.
* JN Vehicle Sales (YoY) Sep, out at -9.5% vs prior reading -1.9%.

Market FX: Dollar making new 2007 lows against EUR and CHF. Carry still remains supported.

Read More... >>

Forex Daily Forecasts - Monday, Oct 1st

2007-10-01T08:42:00.000+01:00

Technical Analysis for Major Currencies

EURO

Last Friday was a one of the strongest bullish days for the European currency, where the euro managed to hit new upside records supported with the high levels of momentum reflected in the trading volume. Today we expect a slight correction towards the downside in terms of gathering momentum to then pursue the upside targets once again.

The trading range for today might be between the key resistance level at 1.4320 and the key support level at 1.4150.

The general trend is up as far as 1. 3470 remains intact targets now at 1.4500 and 1.4780.

Support: 1.4240, 1.4200, 1.4178, 1.4144, 1.4100
Resistance: 1.4268, 1.4290, 1.4320, 1.4337, 1.4357

GBP

The British pound last week arranged a strong bullish pattern after it hit the major support level as the low as 2.0180s, launching from there the upside potential reaching to the key level at 2.0480s. This move created another bullish pattern to set the targets at 2.0680s; nevertheless today the pound is expected to hit the major resistance level at 2.0510 then its expected to reverse back towards the downside in a slight correctional move.

The trading range for today might be between the key resistance level at 2.0530 and the key support level at 2.0360.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0455, 2.0425, 2.0408, 2.0380, 2.0348
Resistance: 2.0484, 2.0505, 2.0530, 2.0550, 2.0575

Recommendation: We expect selling sterling below 2.0510 with a target at 2.0450 stop loss above 2.0550

JPY

The dollar against the Japanese yen clearly moved towards the downside as it couldn't breach the major resistance level at 115.60s to extend the downside channel to hit the key support level at 114.70s; today we expect the pair to progress towards the downside until 114.00 levels.

The trading range for today will be between the key resistance at 115.50 and the key support at 113.80.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 114.50, 114.25, 114.05, 113.87, 113.67
Resistance: 114.85, 115.00, 115.20, 115.40, 115.60

Recommendation: We expect selling USD/JPY below 114.90 with a target at 114.15, stop loss above 115.35

CHF

The dollar against the SWISS Frank last Friday managed a downside wave to hit the previous low at the major support level at 1.1620s, since it failed to breach the major resistance level at 1.1730s; today the potential for the pair might be towards the upside in projection.

The trading range for today will be between the key resistances at 1.1780 the key support at 1.1560.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665and 1.1445.

Support: 1.1619, 1.1602, 1.1578, 1.1550, 1.1526
Resistance: 1.1645, 1.1665, 1.1687, 1.1700, 1.1724

CAD

The dollar against the Canadian Dollar clearly moved in a strong bearish move to hit the previous low at 0.9915, this move affected the technical indicators to show the downside potential.

The trading range for today will be between the key resistance at 1.0050 and the key support at 0.9800.

The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450.

Support: 0.9902, 0.9875, 0.9854, 0.9832, 0.9812
Resistance: 0.9930, 0.9950, 0.9985, 1.0025, 1.0045

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Friday, Sep 28th

2007-09-28T09:00:00.000+01:00

Currency Daily Update
By RCPL FOREX

Cable strengthened to the extent of 2.0289 levels in yesterday's session. Currently cable is trading around 2.0210 levels, holding above the important cluster support around 2.0150 levels (as seen in the above chart). The 4-hourly and daily stochastic is overbought and cable may retrace to the extent of 2.0160 levels (38.2% Retracement).

Read More... >>

Forex Daily Forecasts - Friday, Sep 28th

2007-09-28T08:40:00.000+01:00

By Crown Forex

Technical Analysis for Major Currencies

EURO

The European currency had tendency to move in an upside pattern after it made the suitable correction with some consolidation yesterday. Moreover, the euro succeeded in getting some new high records until the levels of 1.4180. Today we expect the euro to progress towards the upside as well.

The trading range for today might be between the key resistance level at 1.4220 and the key support level at 1.4060.

The general trend is up as far as 1. 3270 remains intact targets now at 1.4050 and 1.4220.

Support: 1.4140, 1.4100, 1.4078, 1.4044, 1.4000
Resistance: 1.4162, 1.4187, 1.4200, 1.4217, 1.4237

Recommendation: We expect buying Euro above 1.4135 with a target at 1.4190 stop loss below 1.4100.

GBP

The British pound yesterday managed a strong upside move after successfully passing the major level at 2.0180s, the same level which forced the pound to consolidate below it two days ago. Today the pound is expected to progress towards the upside.

The trading range for today might be between the key resistance level at 2.0380 and the key support level at 2.0120.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0255, 2.0225, 2.0208, 2.0180, 2.0148
Resistance: 2.0284, 2.0305, 2.0330, 2.0350, 2.0375

Recommendation: We expect buying sterling above 2.0255 with a target at 2.0350 stop loss below 2.0210

JPY

The dollar against the Japanese yen last time tended to move in a balanced pattern however it hit the upper strong resistance at 115.80s. The pair moved in the upside direction with not enough momentum which might lead the currency towards the downside today.

The trading range for today will be between the key resistance at 116.50 and the key support at 114.50.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 115.50, 115.25, 115.05, 114.87, 114.67
Resistance: 115.80, 116.00, 116.20, 116.40, 116.60

Recommendation: We expect selling USD/JPY below 115.85 with a target at 115.00, stop loss above 116.35.

CHF

The dollar against the SWISS Frank yesterday moved in a bullish move hitting the upside target at 1.1740s resistance level since it succeeded to form the rounding bottom above the strong base at the major support level at 1.1660s. Hence, we expect the pair to progress towards the upside today.

The trading range for today will be between the key resistances at 1.1800 the key support at 1.1600.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665and 1.1445.

Support: 1.1719, 1.1702, 1.1678, 1.1650, 1.1626
Resistance: 1.1745, 1.1765, 1.1787, 1.1800, 1.1824

CAD

The dollar against the Canadian Dollar remained quiet with some tendency towards the downside after it couldn't pass the key resistance level at 1.0050s to hit the support as low as 0.9970s. Therefore, the currency today is expected to move towards the main direction, to the downside, until the key support level at 0.9900.

The trading range for today will be between the key resistance at 1.0080 and the key support at 0.9900.

The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450.

Support: 1.0045, 1.0025, 0.9985, 0.9950, 0.9930
Resistance: 1.0065, 1.0080, 1.0100, 1.0123, 1.0150

Recommendation: We expect selling USD/CAD below 1.0025 with a target at 0.9930, stop loss above 1.0065

Technical Analysis for Crosses

GBP/JPY

The Pound against the Yen pair started heading towards the downside in a correctional move, yet the general trend remains to the upside and the first target is set to be the 234.85, and the point at 232.53 seems to offer good demand for the pair.

Support: 232.53, 231.97, 231.60, 230.98, 230.49
Resistance: 232.96, 233.45, 233.88, 234.31, 234.85

EUR/JPY

The Euro also declined against the Yen, as the technical indicators is still showing a bullish wave, and now the 164.79 level is set to be the first target for the pair, and the point at 162.72 seems to offer good demand for the pair.

Support: 162.92, 162.72, 162.37, 161.97, 161.61
Resistance: 163.28, 163.56, 163.91, 164.19, 164.55

EUR/GBP

The Euro is still consolidating against the Pound, as the pair is still able to hold onto its gains, and the technical indicators are still showing the upside movement, and the point at 0.6982 seems to offer good demand for the pair.

Support: 0.6994, 0.6984, 0.6973, 0.6956, 0.6941
Resistance: 0.7004, 0.7019, 0.7031, 0.7041, 0.7053

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Thursday, Sep 27th

2007-09-27T08:40:00.000+01:00

Currency Daily Update
By RPCL FOREX

Cable again plummeted to the levels of 2.0095 yesterday where it gained support from the 50% Retracement and 100 Days EMA and rallied to the levels of 2.0195 in the U.S session. Currently cable is trading around 2.0170 levels, holding above the important support zone of 2.0145 (55 Days EMA and 38.2% Retracement). The daily stochastic is overbought for quite sometime.

Read More... >>

Forex Daily Forecasts - Thursday, Sep 27th

2007-09-27T08:32:00.000+01:00

By Crown Forex

Technical Analysis for Major Currencies

EURO

The European currency saw the tendency to move towards the downside hitting the key support at 1.4100, then it managed an upside move until the levels of 1.4130s. Nevertheless, the upside potential is still possible and the Euro just consolidated at the top to gather some strength to move in a bullish trend again.

The trading range for today might be between the key resistance level at 1.4220 and the key support level at 1.4060.

The general trend is up as far as 1. 3270 remains intact targets now at 1.4050 and 1.4220.

Support: 1.4100, 1.4078, 1.4044, 1.4000, 1.3985
Resistance: 1.4140, 1.4162, 1.4187, 1.4200, 1.4217

Recommendation: We expect buying Euro above 1.4110 with a target at 1.4180 stop loss below 1.4075.

GBP

The British pound consolidated at the critical level of 2.0150s. Meanwhile, the pound is still has the upside potential as long as it stays above the major level at 2.0070s.

The trading range for today might be between the key resistance level at 2.0260 and the key support level at 2.0040.

The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0100, 2.0080, 2.0048, 2.0025, 2.0000
Resistance: 2.0125, 2.0155, 2.0180, 2.0200, 2.0230

Recommendation: We expect buying sterling above 2.0120 with a target at 2.0220 stop loss below 2.0070

JPY

The dollar against the Japanese yen yesterday moved in a bullish pattern ignoring the strength of the major resistance level at 115.15, so it managed to drive through the upside channel to hit the upper resistance level at 115.70s. The pair today is expected to progress towards the upside as long as it has high levels of volume.

The trading range for today will be between the key resistance at 116.70 and the key support at 114.00.

The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20.

Support: 115.05, 114.87, 114.67, 114.48, 114.26
Resistance: 115.25, 115.55, 115.78, 116.00, 116.20

Recommendation: We expect selling USD/JPY below 116.20 with a target at 115.50, stop loss above 116.65

CHF

The dollar against the SWISS Frank yesterday fluctuated in a bullish pattern showing the tendency towards the upside since it couldn't progress towards the downside due to the strong support level at 1.1650s creating a bullish wave until the levels of 1.1790s. Hence, we expect the pair to progress towards the upside today.

The trading range for today will be between the key resistances at 1.1800 the key support at 1.1600.

The general trend is down as far as 1.2540 remains intact, targets at 1.1665and 1.1445.

Support: 1.1677, 1.1650, 1.1626, 1.1605, 1.1580
Resistance: 1.1709, 1.1720, 1.1738, 1.1756, 1.1780

CAD

The dollar against the Canadian Dollar remained so quiet as it traded in very narrow ranges. Thereby, it formed a rounding bottom since it couldn't pass the major support level at 0.9930s.

The trading range for today will be between the key resistance at 1.0150 and the key support at 1.0000.

The general trend is down as far as 1.0850 remains intact, targets will be at 1.0000 and 0.9700.

Support: 1.0045, 1.0025, 0.9985, 0.9950, 0.9930
Resistance: 1.0065, 1.0080, 1.0100, 1.0123, 1.0150

Technical Analysis for Crosses

GBP/JPY

The pair started its incline after it bypassed the 232 barrier, heading now to the major pivot point at 235.50, the technical indicators started to adjust to give more strong signals to the upside while the volume is giving the pair some momentum. The point 233.00 seems to offer the first demand point.

Support: 233.00, 232.85, 232.50, 232.12, 231.80
Resistance: 233.90, 234.20, 234.65, 235.00, 235.50

EUR/JPY

The European currency is still gaining against its all mates, and the Japanese yen had its share, after breaking the 161.90 level the pair is heading now towards the 164.50, and eventually to the all time high at 169.00 almost. The technical indicators started to give some more powerful signals to the upside. And the level 163.30 seems to offer the first demand for the pair.

Support: 163.30, 162.90, 162.77, 162.45, 161.90
Resistance: 163.65, 163.90, 164.20, 164.65, 165.00

EUR/GBP

The European currency declined slightly today after reaching above the 0.7000 barrier earlier this week, the decline was based on some strength the British Pound that he gained from strong houses data. Yet the pair is still above the 0.6990 which make this decline just a slight correction with a demand on this particular level.

Support: 0.6990, 0.6965, 0.6950, 0.6935, 0.6910
Resistance: 0.6999, 0.7015, 0.7028, 0.7035, 0.7045

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Forecasts - Wednesday, Sep 26th

2007-09-26T10:08:00.000+01:00

By Crown Forex | Sep 26 07 07:41 GMT |

Technical Analysis for Major Currencies

EURO

The European currency obviously managed an upside move with high volume which was considered the continuation towards the upside as the Euro built a base above the key level at 1.4050s; the Euro is expected to move towards the upside today.

The trading range for today might be between the key resistance level at 1.4250 and the key support level at 1.4050.

The general trend is up as far as 1.3600 remains intact targets now at 1.4500 and 1.4885.

Support: 1.4150, 1.4125, 1.4099, 1.4068, 1.4033
Resistance: 1.4185, 1.4200, 1.4225, 1.4250, 1.4270

Recommendation: We expect buying Euro above 1.4125 with a target at 1.4185, stop loss below 1.4090.

GBP

The British pound moved in a fake bearish pattern as it failed to breach the strong support at 2.0080s; therefore, we expect a bullish move today as long as the pound keeps the base today at 2.0120 major support level.

The trading range for today might be between the key resistance level at 2.0290 and the key support level at 2.0100.

The general trend is up as far as 1.9650 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0165, 2.0120, 2.0060, 2.0035, 2.0000
Resistance: 2.0188, 2.0220, 2.0250, 2.0270, 2.0320

Recommendation: We expect buying sterling above 2.0160 with a target at 2.0280, stop loss below 2.0110.

JPY

The dollar against the Japanese yen yesterday tended to move towards the downside to hit the key level at 114.00; however, it arranged to reverse back towards the upside by the end of the day, the technical indicators show the downside potential for today.

The trading range for today will be between the key resistance at 115.40 and the key support at 113.60.

The general trend is down as far as 124.60 remains intact, targets at 112.60 and 111.30.

Support: 114.50, 114.30, 114.00, 113.70, 113.50
Resistance: 114.85, 115.15, 115.35, 115.50, 115.75

Recommendation: We expect selling USD/JPY below 114.90 with a target at 114.00, stop loss above 115.40.

CHF

As the dollar against the SWISS Frank yesterday couldn't breach the strong resistance level at 1.1750s to drop down in a strong move towards the key support 1.1640s, today we expect the pair to progress towards the downside as well.

The trading range for today will be between the key resistance at 1.1700 and the key support at 1.1540.

The general trend is down as far as 1.2540 remains intact, targets at 1.1575 and 1.1265.

Support: 1.1660, 1.1635, 1.1609, 1.1580, 1.1555
Resistance: 1.1685, 1.1702, 1.1725, 1.1742, 1.1785

Recommendation: We expect buying USD/CHF above 1.1680 with a target at 1.1600, stop loss below 1.1720.

CAD

The dollar against the Canadian Dollar yesterday moved in a balanced move in a narrow range at the bottom of the long bearish wave; nevertheless we expect today the currency to drop down again setting some new records.

The trading range for today will be between the key resistance at 1.0100 and the key support at 0.9930.

The general trend is down as far as 1.0540 remains intact, targets will be at 0.9800 and 0.9650.

Support: 0.9990, 0.9965, 0.9938, 0.9915, 0.9885
Resistance: 1.0028, 1.0056, 1.0080, 1.0105, 1.0122

Technical Analysis for Crosses

GBP/JPY

The Pound is still consolidating against the Yen, as neither were able to dominate the pair's movement, the general trend is still to the upside, and the point at 230.98 seems to offer good demand for the pair.

Support: 231.56, 230.98, 230.46, 229.89, 229.40
Resistance: 231.96, 232.54, 232.88, 233.34, 233.75

EUR/JPY

The Euro still has the upper hand against the Yen, as the pair is yet to reach the first target at 162.87 and if breached the next target will be the 163.67 level, and the point at 161.97 seems to offer good demand for the pair.

Support: 161.97, 161.61, 161.29, 161.06, 160.78
Resistance: 162.37, 162.68, 162.69, 163.24, 163.52

EUR/GBP

The Euro is still gaining against the Pound, and now the target is set at the 0.7065 level, the general trend is still to the upside, and the point at 0.6984 seems to offer good demand for the pair.

Support: 0.6995, 0.6984, 0.6973, 0.6956, 0.6941
Resistance: 0.7004, 0.7019, 0.7035, 0.7052, 0.7065

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Wednesday, Sep 26th

2007-09-26T09:58:00.000+01:00

Will The USD Continue To Slide?

USD declined to another record low versus the Euro, eyes will be focused on Durable Goods Orders.

Overnight News Bullets

* SW Trade Balance (Aug) out at 0.6B vs. 7.8B expected. Prior at 8.2B
* SW PPI MoM/YoY (Aug) out at -0.4%/4.2% vs. 0.2%/4.9% expected. Prior figures 0.4%/5.5%
* SZ UBS Consumption Indicator (Aug) out at 1.932 vs. 2.258 prior.
* PL Unemployment rate (Aug) out at 12.0% vs 12.0% expected. Prior 12.2%
* SO Repo rate unchanged at 4.25%
* UK Total Business Investment (2Q) QoQ/YoY out at 0.4% / 7.8% vs 0.8% / 7.4% expected. Prior 0.8% / 7.4%
* US Richmond FED Manufacturing Index (Sep) out at 14 vs. 5 expected. Prior 7
* US Consumer Confidence out at 99.8 vs. 104.3 expected. Prior at 105.6
* US Existing Home Sales (Aug) out at 5.50M vs. 5.48M expected. Prior figure 5.75
* NZ Trade Balance (Aug) out at -945M vs -900M expected. Prior -813M
* JN Merchandise Trade Balance (Aug) out at ¥743.2B vs ¥235.5B expected. Prior ¥666.5B.
* JN Adjusted Merchandise Trade Bal (Aug) out at ¥1144.9B vs ¥743.9B expected. Prior ¥878.3B
* AU Conference Board Leading Index (July) out at 0.3%. Prior 0.4%
* AU DEWR Skilled Vacancies MoM (Sep) out at 0.1%. Prior -0.1%

Market

* FX: Dollar drops to yet another low against euro at 1.4162. AUD and NZD both stronger on speculation of further cuts to come from U.S.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
	+				-		-		-

Read More... >>

Forex Daily Forecasts - Tuesday, Sep 25th

2007-09-25T08:29:00.000+01:00

By Crown Forex | Sep 25 07 07:02 GMT

Technical Analysis for Major Currencies

EURO

The European currency started to depreciate yesterday, after it hit the all time high at 1.4130s resistance level, until the levels of 1.4060s. In the meantime, the currency is expected to move down today as well in order to make some correction.

The trading range for today might be between the key resistance level at 1.4150 and the key support level at 1.3970.

The general trend is up as far as 1.3600 remains intact targets now at 1.4500 and 1.4885.

Support: 1.4068, 1.4033, 1.4000, 1.3975, 1.3945
Resistance: 1.4099, 1.4125, 1.4150, 1.4175, 1.4200

Recommendation: We expect selling Euro below 1.4100 with a target at 1.4035, stop loss above 1.4040.

GBP

The British pound was unable to keep the bullish step yesterday after it hit the resistance level at 2.0320s to close at the levels of 2.0200 support. Today, we expect a drop towards the main at 2.0080s.

The trading range for today might be between the key resistance level at 2.0260 and the key support level at 2.0060.

The general trend is up as far as 1.9650 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0120, 2.0060, 2.0035, 2.0000, 1.9980
Resistance: 2.0165, 2.0188, 2.0220, 2.0250, 2.0270

Recommendation: We expect selling sterling below 2.0160 with a target at 2.0080, stop loss above 2.0200.

JPY

The dollar against the Japanese yen found the tendency yesterday to drop down from the 115.30s level. As the downside channel has extended, today the pair is expected to progress towards the downside until the strong support at 114.00.

The trading range for today will be between the key resistance at 115.40 and the key support at 113.60.

The general trend is down as far as 124.60 remains intact, targets at 112.60 and 111.30.

Support: 114.50, 114.30, 114.00, 113.70, 113.50
Resistance: 114.85, 115.15, 115.35, 115.50, 115.75

Recommendation: We expect selling USD/JPY below 114.85 with a target at 114.00, stop loss above 115.40.

CHF

The dollar against the SWISS Frank yesterday moved towards the upside in a fake movement. In other words, the pair couldn’t breach the major support level at 1.1680s to close in a bullish pattern at 1.1730s. Today we expect the currency to move towards the upside in order to make some correction pattern.

The trading range for today will be between the key resistance at 1.1800 and the key support at 1.1670.

The general trend is down as far as 1.2540 remains intact, targets at 1.1575 and 1.1265.

Support: 1.1702, 1.1685, 1.1660, 1.1635, 1.1609
Resistance: 1.1725, 1.1742, 1.1785, 1.1809, 1.1832

Recommendation: We expect buying USD/CHF above 1.1715 with a target at 1.1800, stop loss below 1.1670.

CAD

The dollar against the Canadian Dollar just formed the rounded bottom yesterday and therefore, the currency today is expected to progress towards the upside.

The trading range for today will be between the key resistance at 1.0140 and the key support at 0.9970.

The general trend is down as far as 1.0540 remains intact, targets will be at 0.9800 and 0.9650

Support: 0.9990, 0.9965, 0.9938, 0.9915, 0.9885
Resistance: 1.0028, 1.0056, 1.0080, 1.0105, 1.0122

Recommendation: We expect buying USD/CAD above 1.0015 with a target at 1.0120, stop loss below 0.9970.

Technical Analysis for Crosses

GBP/JPY

The Pound dropped heavily against the Yen, as the technical indicators started to show that the pair now is entering an oversold area, the general trend is still to the upside, and the point at 229.89 seems to offer good demand for the pair

Support: 230.29, 229.89, 229.48, 228.90, 228.39
Resistance: 230.89, 231.56, 231.96, 232.54, 233.00

EUR/JPY

The Euro also declined against the Yen, as the pair started heading towards the downside in a correctional move, yet the general trend remains to the upside and the point at 160.54 seems to offer strong demand for the pair

Support: 161.14, 160.88, 160.54, 160.26, 159.94
Resistance: 161.61, 161.97, 162.17, 162.37, 162.60

EUR/GBP

The Euro gained back against the Pound, as the pair started heading towards the upside, and now the target is set to be the 0.7044 level, and the point at 0.6973 seems to offer good demand for the pair.

Support: 0.6984, 0.6973, 0.6956, 0.6941, 0.6930
Resistance: 0.6993, 0.7004, 0.7019, 0.7030, 0.7044

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Forex Daily Analysis - Monday, Sep 24th

2007-09-24T09:19:00.000+01:00

USD still weakening, despite no data.

EURUSD made new highs at 1.4118 despite lack of interesting data. Carries higher on Friday, making new highs this morning.

Overnight News Bullets

* FR Wages QoQ (2Q F) out at 0.6% as expected. Prior 0.6%.
* E-Z Current Account (Jul) out at 1.7B vs. 3.5B expected. Prior at 7.3B (revised from 5.9B.)
* E-Z PMI Manufacturing (Sep A) out at 53.2 vs. 53.9 expected. PMI Services out at 54 vs. 57.6. PMI Composite out at 54.5 vs. 56.9.
* CA Retail Sales MoM (Jul) out at -0.8% vs. 0.0% expected. Prior at -1.1% (revised from -0.9%).
* CA Retail Sales Autos MoM (Jul) out at -0.3% vs. 0.3% expected. Prior at -0.2% (revised from -0.3%.)
* US Baker Hughes Rig Count out at 1769 vs. 1787 prior.
* JN Fukuda named Japan’s ruling party leader, next prime minister.

O/N Data Heat map:

EU	US	JP	UK	SZ	AU	CA	NZ	NO	SE	FR
-						-

Read More... >>

Forex Daily Forecasts - Monday, Sep 24th

2007-09-24T09:07:00.000+01:00

Forex Daily Forecasts | Written by Crown Forex | Sep 24 07 06:57 GMT |

Technical Analysis for Major Currencies

EUR/USD

The European currency managed to move in an irregular movement last week to record and all time high. Today the euro is expected to continue the upside move as the euro couldn't breach the major up trend line beside the technical parameters that indicate the upside potential until 1.4200 levels .

The trading range for today might be between the key resistance level at 1.4250 and the key support level at 1.4050.

The general trend is up as far as 1.3600 remains intact targets now at 1.4500 and 1.4885.

Support: 1.4068, 1.4033, 1.4000, 1.3975, 1.3945
Resistance: 1.4099, 1.4125, 1.4150, 1.4175, 1.4200

Recommendation: We expect buying Euro above 1.4100 with a target at 1.4175, stop loss below 1.4070.

GBP/USD

The British pound managed to move towards the upside in a bullish pattern after it built the base above the major level last week at 2.0200. However, the pound has a tough level at 2.0280 that might bother the pound while in its upside move.

The trading range for today might be between the key resistance level at 2.0335 and the key support level at 2.0160.

The general trend is up as far as 1.9650 remains intact targets now at 2.0635 and 2.0740.

Support: 2.0165, 2.0120, 2.0060, 2.0035, 2.0000
Resistance: 2.0188, 2.0220, 2.0250, 2.0270, 2.0320

Recommendation: We expect buying sterling above 2.0120 with a target at 2.0280, stop loss below 2.0080.

USD/JPY

The dollar against the Japanese yen arranged a strong drop with high levels of volume and volatility. Due to that, the pair hit the low at 114.60 last Friday. Today the pair seems to continue towards the major support at 114.20s.

The trading range for today will be between the key resistance at 115.70 and the key support at 114.00.

The general trend is down as far as 124.60 remains intact, targets at 112.60 and 111.30.

Support: 114.50, 114.30, 114.00, 113.70, 113.50
Resistance: 114.85, 115.15, 115.35, 115.50, 115.75

Recommendation: We expect selling USD/JPY below 115.20 with a target at 114.50, stop loss above 115.60

USD/CHF

The dollar against the SWISS Frank last week found tendency to move in a bearish pattern hitting the major support level at 1.1680s. This move affected the technical indicators to make some adjustments to show the downside potential for today.

The trading range for today will be between the key resistance at 1.1800 and the key support at 1.1570.

The general trend is down as far as 1.2540 remains intact, targets at 1.1575 and 1.1265.

Support: 1.1702, 1.1685, 1.1660, 1.1635, 1.1609
Resistance: 1.1725, 1.1742, 1.1785, 1.1809, 1.1832

USD/CAD

The dollar against the Canadian Dollar managed to move in a bearish move last week using the weakness of the US dollar to hit new records. The trend analysis still show the strength of the downside move which in role might lead the pair to get more new records.

The trading range for today will be between the key resistance at 1.0070 and the key support at 0.9885.

The general trend is down as far as 1.0540 remains intact, targets will be at 0.9800 and 0.9650.

Support: 0.9990, 0.9965, 0.9938, 0.9915, 0.9885
Resistance: 1.0020, 1.0056, 1.0080, 1.0105, 1.0122

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Weekly Technical Strategist

2007-09-23T22:30:00.000+01:00

Forex Weekly Analysis | Written by FXTechstrategy | Sep 23 07 13:54 GMT |

Weekly Technical Strategist

EURUSD: Hits 1.4119 High, Eyes Further Upside Gains
GBPUSD: Looks To Test 2.0304/65 Levels
USDJPY: Trades In A symmetrical Triange

EURUSD

EUR followed through to the upside on its recent rally the past week, breaking through its psychological resistance at 1.4000 and testing its 1992 high at 1.4104 before a slight pullback to close the week at 1.4090.As long as the pair continues to trade above its psychological resistance turned support, odds are for a run at and a possible break of the 1.4104 level. On such a break,its 1.272 Ext at 1.4250(monthly chart) will be targeted ahead of its 1995 high at 1.4535.The weekly RSI remains positive and trending higher suggesting further strength.Alternatively,if weakness is seen as a result of over extension of its daily studies, the first place to aim at on the downside lies at its psychological level at 1.4000,which should now revert to support. This is followed by the 1.3928 level, marking its Sept 13'07 high and then its July 24'07 high/its .382 Ret (1.3551-1.4119 rally) at 1.3838/52.Below here exposes its rising trendline drawn off the 1.3551 low currently at 1.3769.On the whole, EUR looks to push higher in continuation of its medium and long term uptrend with the only nearer term risk being the overbought condition now a factor on the daily time frame.

Directional Bias:

Nearer Term -Bullish
Short Term -Bullish
Medium Term -Bullish

Performance in %:

Past Week: +1.54%
Past Month: -0.33%
Past Quarter: +1.39%
Year-To-Date: +6.77%

Weekly Range:

High -1.4119
Low -1.3828

Weekly Chart: EURUSD

GBPUSD

After a failure at the 2.0365 level, its Sept 12'07 high saw GBP tumble to a low of 1.9877 on Tuesday, the managed to bounce off that low as well as ahead of weekly rising channel base to put in a positive close at 2.0201 on Friday. With this development, the pair is now up against its falling trendline at 2.0304 which dates back to July 24'07 followed by its Sept 12'07 swing high at 2.0365.Breaking and maintaining above these levels are required to reduce short term downside pressure and bring upside strength towards the 2.0461 level, its Aug 06 high and ultimately the 2.0652 level, its 2007 peak. A clean violation of here is needed to resume its medium term uptrend on hold since late July'07.The daily studies remain in alignment with this view. However, if the pair stalls at 1.0304/65 resistance zones and turns lower, its July 30'07 low/Aug 27'07 high at 2.0191/81 will be aimed at as the immediate support followed by the 2.0132 level, its .50 Ret (1.9632-2.0652)/April 18'07 high and the next at the 2.0059/72 area, its April 25/26'07/May 01'07 high. A clearance of here will set the stage for further downside weakness towards the 1.9966 area, its Jun 05'07/ high and even lower at the 1.9880/77 zone, which is the location of its weekly channel base/weekly 200 ema/Sept 21'07 low. All in all, GBP requires a sustained penetration of 2.0304/65 zone, which is the trigger to further upside gains.

Directional Bias:

Nearer Term -Bullish
Short Term -Bearish
Medium Term -Bullish

Performance in %:

Past Week: +0.62%
Past Month: -0.59%
Past Quarter: +2.09 %
Year-To-Date: +3.12%

Weekly Range:

High -2.0212
Low -1.9877

Weekly Chart: GBPUSD

USDJPY

After its recent fall off the 124.12 level (June 22'07 high), which was followed with a corrective recovery to as high as 117.11 in late Aug'07, USDJPY is now trading in a symmetrical triangle which is a convergence of a rising trendline and a falling trendline.In USDJPY's case, the 117.11 and 116.37 highs and the 111.58 and 112.59 lows converge to form the said pattern which is more often than not a continuation pattern but sometimes may resolve against the direction of the underlying trend. Although a break out of this pattern is required to create directional moves in this pair, while the 113.98 level, its Sept 20'07 low holds, the pattern top at 116.21 is likely to be tested where a break if seen, will target a stronger resistance area at the 117.11/17 zone, which represents its Aug 23'07 high/Aug 05'07 low. Above there will turn focus to its .50 Ret (124.12-111.58 decline) at 117.83 before its .618 Ret at 119.30 and then its Aug 08'07 at 119.82.Both the daily and weekly RSI are pointing higher implying further upside gains. On the downside, its Sept 20'07 low at 113.98 is seen as the initial support accompanied by the 112.39 level, its Sept 09'07 low. Surpassing this level will open the door for additional downside weakness towards its year-to-date low at 111.58 with a loss of there resuming its decline off the 124.12 high. On the whole, USDJPY requires a break out of its symmetrical triangle followed with an invalidation of the 117.11 level to resume its recovery effort off the 111.58 low.

Directional Bias:

Nearer Term -Bullish
Short Term -Bearish
Medium Term -Bearish

Performance in %:

Past Week: +0.11%
Past Month: -2.32%
Past Quarter: +4.56%
Year-To-Date: -3.04%

Weekly Range:

High -116.37
Low -113.98

Daily Chart: USDJPY

Mohammed Isah
Market Analyst
FxTechstrategy

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report