Forex Signal - 19 October 07




EUR-USD
1.4295. Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4350 or 1.4381 if support around 1.4267 hold. After which a pullback to 1.4267 - 1.4246 zone is possible.
USD-CHF
1.1696. It is likely to attempt nearer support at 1.1637 for extending further to below 1.1579 while below 1.1696 - 1.1751 area. Rise above 1.1780 would dampen this bearish expectation.
USD-JPY
115.62. It is likely to attempt nearer support at 115.04 for extending further to below 114.45 while below 115.62 - 116.16 area. Rise above 116.45 would dampen this bearish expectation.
GBP-USD
2.0445. Resistances lie around 2.0480 and 2.0578. It should test lower towards 2.0381 zone. A clear break of 2.0438 would be bearish.
EUR-CHF
1.6721. Current fall is near an end of wave around 1.6674 - 1.6711 zone, a rally should then procede to above 1.6746 or 1.6767. Fall below 1.6636 would cancel this scenario.
EUR-JPY
165.29. It should see a sell off to below 164.72 while 165.41 area curtails its upside. A break beyond 165.98 will abort the downside.
EUR-GBP
0.6992. Uptrend is still intact in a triangle configuration. It should continue to rally to 0.6995 or 0.7013 if support around 0.6982 hold. After which a pullback to 0.6982 - 0.6977 zone is possible.
AUD-USD
0.8963. Current rise seems to be over near 0.8968 or 0.8997 for a retracement towards 0.8939 - 0.8922 area.
USD-CAD
0.9737. It should register further gains to 0.9770 while 0.9713 caps downside attempts. Stop loss below 0.9688 zone.



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