Daily Market Comment - 08 January 2008


Daily Market Comment


EUR-USD
1.4695. Current fall is near an end of wave around 1.4641 - 1.4673 zone, a rally should then procede to above 1.4725 or 1.4747. Fall below 1.4606 would cancel this scenario.
USD-CHF
1.1164. Current rise seems to be over near 1.1178 or 1.1213 for a retracement towards 1.1142 - 1.1118 area.
USD-JPY
109.18. A correction down to 108.56 folowed buy a mouve up to 109.46 or 109.77. A break above 110.35 would accelerate this bullish move.
GBP-USD
1.9699. It should register further gains to 1.9752 while 1.965 caps downside attempts. Stop loss below 1.9601 zone.
EUR-CHF
1.6405. A corrective/consolidation activity between 1.6347 and 1.6482 is likely for a while.
EUR-JPY
160.44. N/A
EUR-GBP
0.7460. It is likely to attempt to below 0.7421 while below 0.7460 - 0.7461 area. Rise above 0.7480 would dampen this bearish expectation.
AUD-USD
0.8728. It should test 0.8751 area after which a sell off down to 0.8691 or extended to 0.8653 area is expected.
USD-CAD
1.0047. While below 1.0095 it is more likely to fall further towards 1.0009 or 0.9985. Premature rise above 1.0095 could see it rising above 1.0142 zone.

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