Daily Market Comment - 07 January 2008



Daily Market Comment

EUR-USD
1.4753. It looks more likely that it would rise to 1.482 from 1.4724 or 1.4691. After which a downside move is expected.
USD-CHF
1.1065. Current fall is near an end of wave around 1.1002 - 1.1012 zone, a rally should then procede to above 1.1114 or 1.1145. Fall below 1.0940 would cancel this scenario.
USD-JPY
108.45. Current fall is near an end of wave around 107.66 - 107.85 zone, a rally should then procede to above 109.02 or 109.39. Fall below 106.97 would cancel this scenario.
GBP-USD
1.9717. While below 1.9696 - 1.9747 it might drop to 1.9644 or below 1.9571 zone.
EUR-CHF
1.6327. Support at 1.6327 or 1.6270 should hold the downside for a correction to above 1.6384 zone.
EUR-JPY
160.01. It might hold above 159.89 or around 159.78 for a rise towards above 161.11. Stop loss below 159.35 zone.
EUR-GBP
0.7482. Market looks set for gains towards 0.7508 or above in extension. Dips should find support at 0.7466 - 0.7454 zone.
AUD-USD
0.8703. Market should meet resistance at 0.8746. We expect then an extended move down to 0.8679 -0.8573 area.
USD-CAD
1.0014. It should trade higher to 1.0085 while 0.9964 or 0.9928 offers support. Stop loss below 0.9892 zone.

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