Daily Market Comment - 12 Desember 2007


Daily Market Comment

EUR-USD
1.4655. While below 1.4681 - 1.4703 it might drop to 1.4613 or below 1.4570 zone.
USD-CHF
1.1308. It is a triangle configuration. Market should break either side. Acceleration should occur above 1.1362 or under 1.1255 limits.
USD-JPY
110.66. Downtrend is still intact.It should continue to fall to 110.57 or 110.05 if resistance at 111.09 area doesnt break . Direct rise above 111.09 could turn the picture bullish for a corrective up move to 111.40 or even 111.71 limit .
GBP-USD
2.0343. It looks more likely that it would rise to above 2.0432 or 2.0465 from 2.0337 or 2.0275. After which a downside move to below 2.0208 is expected.
EUR-CHF
1.6572. There are initial signs of a good corrective recovery towards 1.6621 or even 1.6640. Supports at 1.6567 and 1.6532 zone.
EUR-JPY
162.17. There is bearish potential for a fall to 161.05 while 163.02 - 163.58 resist. After this fall a recovery up to 163.58 or 164.14 is expected.
EUR-GBP
0.7204. It should trade higher to 0.7229 or above 0.7254 in extention. Supports at 0.7179 and 0.7191. Stop loss below 0.7166 zone
AUD-USD
0.8733. There is bearish potential for a fall to 0.8663 while 0.878 - 0.8815 resist. After this fall a recovery up to 0.8815 or 0.8849 is expected.
USD-CAD
1.0150. Current rise seems to be over near 1.0159 or 1.0198 for a retracement towards 1.0119 - 1.0095 area.


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