Daily Market Comment - 11 Desember 2007


Daily Market Comment

EUR-USD
1.4711. Currently uptrend should end around 1.4752 - 1.4751 area. A correction down to below 1.4655 is expected. A rise above 1.4792 will abort the expected correction.
USD-CHF
1.1281. Market should hold major support at 1.1243 before rising towards 1.1310 or even 1.1340 limit.
USD-JPY
111.69. A corrective/consolidation activity between 111.40 and 111.83 is likely for a while.
GBP-USD
2.0462. Uptrend is still intact in a triangle configuration. It should continue to rally to 2.0557 or 2.0599 if support around 2.0421 hold. After which a pullback to 2.0421 - 2.0387 zone is possible.
EUR-CHF
1.6598. Uptrend is still intact in a triangle configuration. It should continue to rally to 1.6604 or 1.6650 if support around 1.6573 hold. After which a pullback to 1.6573 - 1.6560 zone is possible.
EUR-JPY
164.33. Currently uptrend should end around 164.81 - 164.87 area. A correction down to below 163.49 is expected. A rise above 165.42 will abort the expected correction.
EUR-GBP
0.7189. It is likely to attempt to below 0.7158 while below 0.7189 - 0.7194 area. Rise above 0.7210 would dampen this bearish expectation.
AUD-USD
0.8848. Market looks set for gains towards 0.8892 or above in extension. Dips should find support at 0.8817 - 0.8795 zone.
USD-CAD
1.0072. It should be subject to more sell off towards 1.0012 or 0.9953. Corrective upward swings should face resistance around 1.0091 area. A break of 1.0152 is bullish.

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