Daily Market Comment - 22 November 2007


Daily Market Comment


EUR-USD
1.4858. A correction down to 1.4799 folowed buy a mouve up to 1.4864 or 1.4893. A break above 1.4929 would accelerate this bullish move.
USD-CHF
1.1017. It should register further gains to 1.1060 while 1.0995 caps downside attempts. Stop loss below 1.0972 zone.
USD-JPY
108.42. Overall structure is bearish. Decelerating momentum could attract it towards supports at 107.88 or 107.79. Major support is clustered around 107.03 limit.
GBP-USD
2.0653. A corrective/consolidation activity between 2.0554 and 2.0734 is likely for a while.
EUR-CHF
1.6370. Any possible decline should be supported around 1.6338 - 1.6307 zone for rally to above 1.6449. A clear break of 1.6307 will damage this expected rally.
EUR-JPY
161.11. Current fall seems to be over near 160.59 or 159.71 for a rebound towards 161.47 - 162.17 area.
EUR-GBP
0.7193. While below 0.7215 it is more likely to fall further towards 0.7180 or 0.7168. Premature rise above 0.7215 could see it rising above 0.7238 zone.
AUD-USD
0.8707. Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.8668 or 0.8590. Major support is clustered around 0.8512 limit.
USD-CAD
0.9868. Current upmove should be ended around 0.9936 - 1.0004. Any correction consolidation should find support in 0.9857 - 0.9823 zone.

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