Daily Market Comment - 03 January 2008



Daily Market Comment


EUR-USD
1.4751. One move lower to 1.4698 or 1.4646 is anticipated while below 1.4766 - 1.4792 area. Stop loss above 1.4834 zone.
USD-CHF
1.1109. It may meet resistance in 1.1109 - 1.1139 zone for a drift down to 1.1019 zone, after which bounce to 1.1156 is anticipated.
USD-JPY
109.32. It should test higher than 109.97. Entry point are at 108.78 and 108.45. A break of 107.59 is bearish.
GBP-USD
1.9710. Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.9666 or 1.9664. Major support is clustered around 1.9586 limit.
EUR-CHF
1.6385. It should register further gains to 1.6450 while 1.6351 caps downside attempts. Stop loss below 1.6316 zone.
EUR-JPY
161.26. Market should hold major support at 158.99 before rising towards 162.04 or even 162.83 limit.
EUR-GBP
0.7483. Currently uptrend should end around 0.7544 - 0.7506 area. A correction down to below 0.7438 is expected. A rise above 0.7529 will abort the expected correction.
AUD-USD
0.8802. There are initial signs of a good corrective recovery towards 0.8825 or even 0.8838. Supports at 0.8795 and 0.8777 zone.
USD-CAD
0.9896. There is bearish potential for a fall to 0.9857 or 0.9819 while 0.9931 - 0.995 resist. After this fall a recovery up to 0.9931 or 0.9950 is expected.

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