Tuesday November 25, 2008

EURO
As expected the euro continued the upside move and as well managed to breach the resistance level at 1.2725-1.2740 to reach the 23.6% correctional level at 1.2930 once again and managed to rise slightly above it; nevertheless the pair is now trading below that level and signs of buying saturation are appearing over momentum indicators on four hour basis and for that we expect the pair to decline towards the 400 Hour (100 4-hour MA) at 1.2690 which is valid as far as trading continues dominantly below 1.2930 levels.

The trading range is among the key resistance level at 1.3150 and the key support level at 1.2525.

The general trend is to the downside as far as 1.5080 remains intact; targets are set at 1.2340 and 1.2225.

Support 1.2830 1.2800 1.2740 1.2690 1.2675
Resistance 1.2885 1.2915 1.2930 1.2985 1.3060
Recommendation Sell euro below 1.2915 with targets interlude at 1.2840 and 1.2800, stop loss with hourly closing above 1.3000

EUR-USD Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3153 or 1.3213 if support around 1.2825 hold. After which a pullback to 1.2825 - 1.2761 zone is possible.
GBP-USD Current rise seems to be over near 1.5185 or 1.5300 for a retracement towards 1.5070 - 1.5012 area.
USD-JPY N/A
USD-CHF Market should not go lower than 1.1820. After this move down it should go up to 1.1931 - 1.2029 area.

Tips : Save to SELL EU aroud 50% (1.2700)..good luck all...:))