Daily Market Comment - 19 November 2007




EUR-USD
1.4648. It should be subject to more sell off towards 1.4596 or 1.4544. Corrective upward swings should face resistance around 1.4690 area. A break of 1.4705 is bullish.
USD-CHF
1.1193. It is likely to fall towards 1.1112 unless a corrective rally breaks the 1.1220 resistance. Stop above 1.1240 zone.
USD-JPY
110.93. It may attempt a test higher to 111.13 - 111.58 after which weakness may set it to a drift down to below 110.03 limit.
GBP-USD
2.0522. It should trade higher to 2.0584 or above 2.0647 in extention. Supports at 2.0438 and 2.0469. Stop loss below 2.0406 zone
EUR-CHF
1.6395. It should test higher than 1.6426. Entry point are at 1.6373 and 1.6357. A break of 1.6319 is bearish.
EUR-JPY
162.51. It should be subject to more sell off towards 160.89 or 159.28. Corrective upward swings should face resistance around 163.81 area. A break of 164.285 is bullish.
EUR-GBP
0.7137. Our preferred outlook is for a drift down to 0.7126 or below 0.7114. Resistances are at 0.7137 and 0.7148. A rise above 0.7160 would delay but not abort this expected fall.
AUD-USD
0.8919. It may attempt a test higher to 0.8930 after which weakness may set it to a drift down to below 0.8844 limit.
USD-CAD
0.9737. It looks more likely that it would rise to above 0.9813 or 0.9848 from 0.9722 or 0.9666. After which a downside move to below 0.9595 is expected.


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