Daily Market Comment - 18 November 2007


Daily Market Comment

EUR-USD
1.4400. It should test higher than 1.4458. Entry point are at 1.4366 and 1.4336. A break of 1.4273 is bearish.
USD-CHF
1.1491. There are initial signs of a good corrective recovery towards 1.1533 or even 1.1551. Supports at 1.1485 and 1.1454 zone.
USD-JPY
112.94. There are initial signs of a good corrective recovery towards 113.21 or even 113.34. Supports at 112.89 and 112.69 zone.
GBP-USD
2.0205. Is expected to fall lower than 2.0052. Entry sell point are at 2.0217 or 2.0255 . Stop loss above 2.0255.
EUR-CHF
1.6547. Market should not go lower than 1.6490. After this move down it should go up to 1.6540 - 1.6579 area.
EUR-JPY
162.64. It may meet resistance in 162.64 - 162.84 zone for a drift down to 162.03 zone, after which bounce to 163.09 is anticipated.
EUR-GBP
0.7127. Current fall is near an end of wave around 0.71 - 0.7111 zone, a rally should then procede to above 0.7142 or 0.7152. Fall below 0.7088 would cancel this scenario.
AUD-USD
0.8573. It may meet resistance in 0.8573 - 0.8594 zone for a drift down to 0.8510 zone, after which bounce to 0.8612 is anticipated.
USD-CAD
1.0053. Market should meet resistance at 1.0102. We expect then an extended move down to 1.0020 -0.9905 area.

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