Last Updated :
11 October 2007
| EURO | | The European currency took a step to the upside yesterday after it closed in a bullish pattern above the main level at 1.4080s to hit the high at the key resistance level at 1.4170s. In the meantime, the technical studies reflected the upside potential today as long as the Euro stays above the 1.4100 support level.
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 | 1.4120 | 1.4080 | 1.4060 | 1.4030 | 1.3977 | | Resistance | 1.4150 | 1.4185 | 1.4205 | 1.4230 | 1.4250 | | Recommendation | We expect buying Euro above 1.4130 with a target at 1.4200, stop loss below 1.4080. | |
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| GBP | | The British pound yesterday moved in a strong bullish pattern in the early trading sessions with high level of volume to set the high at the critical resistance level at 2.0480s. However, it moved down yesterday but the upside potential is still valid for today.
The trading range for today might be between the key resistance level at 2.0500 and the key support level at 2.0300.
The general trend is up as far as 1.9700 remains intact targets now at 2.0635 and 2.0740. | | Support | 2.0408 | 2.0383 | 2.0350 | 2.0325 | 2.0305 | | Resistance | 2.0424 | 2.0448 | 2.0495 | 2.0522 | 2.0545 | | Recommendation | We expect buying sterling above 2.0410 with a target at 2.0520 stop loss below 2.0360 | |
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| JPY | | The dollar against the Japanese yen is still moving quietly; however the technical indicators show the tendency towards the downside due to the weakness in holding the pair above the major resistance level at 118.00. So today we expect some bearish movements.
The trading range for today will be between the key resistance at 117.80 and the key support at 116.20.
The general trend is down as far as 124.60 remains intact, targets at 112.40 and 111.20. | | Support | 116.90 | 116.55 | 116.30 | 116.17 | 115.88 | | Resistance | 117.25 | 117.50 | 117.75 | 117.93 | 118.20 | | Recommendation | We expect selling USD/JPY below 117.35 with a target at 116.60, stop loss above 117.75. | |
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| CHF | | The dollar against the SWISS Frank dropped last time to hit the low at 1.1780s in the first trading sessions to reverse back upwards until the opening level. This move affected the technical indicators to show some bearish movements for today.
The trading range for today will be between the key resistances at 1.1900 the key support at 1.1750.
The general trend is down as far as 1.2540 remains intact, targets at 1.1665 and 1.1445. | | Support | 1.1816 | 1.1800 | 1.1778 | 1.1750 | 1.1726 | | Resistance | 1.1840 | 1.1865 | 1.1885 | 1.1905 | 1.1930 | | Recommendation | We expect selling USD/CHF below 1.1850 with a target at 1.1775, stop loss above 1.1900. | |
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| CAD | | The dollar against the Canadian remained so quiet yesterday with slight volume restricted within very narrow ranges. Nevertheless, the tendency might be towards the downside direction as the technical parameters show the downside target at 0.9730s soon.
The trading range for today will be between the key resistance at 0.9880 and the key support at 0.9730.
The general trend is down as far as 1.0850 remains intact, targets will be 0.9700 at and 0.9450. | | Support | 0.9800 | 0.9775 | 0.9750 | 0.9735 | 0.9715 | | Resistance | 0.9830 | 0.9850 | 0.9885 | 0.9925 | 0.9945 | | Recommendation | We expect selling USD/CAD below 0.9830 with a target at 0.9750, stop loss above 0.9870. | | |
From: CrownForex
