Wednesday November 19, 2008

EUR-USD It is likely to fall towards 1.2495 unless a corrective rally breaks the 1.2659 resistance. Stop above 1.2690 zone.
GBP-USD There are initial signs of a good corrective recovery towards 1.5025 or even 1.5067. Supports at 1.4930 and 1.4876 zone.
USD-JPY Corrective dips should ideally halt near 96.82 or 96.52 for one more thrust upwards towards 97.22 - 97.61 area or 98.21 in extention. Fall below 96.22 puts it back on a downward path.
USD-CHF A correction down to 1.1984 folowed buy a mouve up to 1.204 or 1.2063. A break above 1.2095 would accelerate this bullish move.

Tuesday November 18, 2008

EUR-USD Market should hold major support at 1.2499 before rising towards 1.2757 or even 1.2864 limit.
GBP-USD It should trade higher to 1.5162 while 1.4910 or 1.4823 offers support. Stop loss below 1.4736 zone.
USD-JPY It is likely to fall towards 95.72 as its corrective rally could falter in 96.99 - 96.63 area. Stop above 97.34 zone.
USD-CHF Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2029 or 1.2079 if support around 1.1961 hold. After which a pullback to 1.1961 - 1

Monday November 17, 2008

EUR-USD There are initial signs of a good corrective recovery towards 1.2759 or even 1.2808. Supports at 1.2651 and 1.2592 zone.
GBP-USD One more dip to 1.4652 or 1.4503 is likely followed by a grind higher to above 1.4879 or 1.5105. After which it can resume its downtrend.
USD-JPY There are initial signs of a good corrective recovery towards 97.59 or even 98.08. Supports at 96.60 and 96.10 zone.
USD-CHF A corrective/consolidation activity between 1.1860 and 1.1980 is likely for a while.

Friday November 14, 2008

EURO

The euro inclined as it was being oversold yesterday failing to reach our downside targets but the chance is still open since yesterday's upside movements were nothing more than an attempt to retest the key support for the sideways channel that was breached earlier. The pair is trading now near the 100 day MA on the four hour chart at 1.2740 and we see that if trading continues below this level, it could reverse to the downside. The decline today is concerned with 1.2885 where trading below it will also result in a reverse sooner or later.
The trading range for today is among the key support at 1.2375 and the key resistance at 1.3000
The general trend is to the downside as far as 1.5080 remains intact with targets at 1.2340 and 1.2225
Support 1.2670 1.2565 1.2510 1.2485 1.2415
Resistance 1.2740 1.2770 1.2835 1.2885 1.2900

EUR-USD Current rise seems to be over near 1.2813 or 1.2955 for a retracement towards 1.2671 - 1.2579 area.
GBP-USD It should test higher than 1.5036. Entry point are at 1.4700 and 1.4603. A break of 1.4364 is bearish.
USD-JPY It should trade higher to 99.13 while 96.82 or 96.10 offers support. Stop loss below 95.38 zone.
USD-CHF While below 1.1850 or 1.1900 it could fall towards below 1.1799 or 1.1724. After which a corrective/consolidation activity is expected to 1.1938 zone.

EURO

The key support for the sideways channel was breached and the pair was able to reach the 100% correction for the descending channel that started on 5-11-2008 and ended on 7-11-2008 where this level lies at 1.2485. Today we see the pair inclining in correction movements in another attempt to retest the support level that was breached yesterday which has now shifted to 1.2750. The minor resistance which is the 61.8% correction for the above mentioned downside channel at 1.2660 could be a critical point for the pair as it might provide it with bearish momentum.

The trading range for today is among the key support at 1.2325 and the key resistance at 1.2990

The general trend is to the downside as far as 1.5080 remains intact with targets at 1.2480 and 1.2340


Support 1.2580 1.2535 1.2495 1.2455 1.2410
Resistance 1.2660 1.2695 1.2750 1.2800 1.2880