Daily Market Comment - 15 January 2008





EUR-USD
1.4869. While below 1.4924 it is more likely to fall further towards 1.4833 or 1.4805. Premature rise above 1.4924 could see it rising above 1.4979 zone.
USD-CHF
1.0931. Current fall is near an end of wave around 1.0840 - 1.0895 zone, a rally should then procede to above 1.0972 or 1.1000. Fall below 1.0817 would cancel this scenario.
USD-JPY
108.16. Current fall is near an end of wave around 106.84 - 108.15 zone, a rally should then procede to above 108.56 or 108.96. Fall below 106.57 would cancel this scenario.
GBP-USD
1.9559. Decline should be supported around 1.9527 - 1.9495 zone for rally to above 1.9681. A clear break of 1.9495 will damage this expected rally.
EUR-CHF
1.6252. It should see a sell off to below 1.6213 while 1.6268 area curtails its upside. A break beyond 1.6306 will abort the downside.
EUR-JPY
160.83. Market should hold major support at 159.83 before rising towards 161.62 or even 162.40 limit.
EUR-GBP
0.7601. Currently uptrend should end around 0.7628 - 0.7621 area. A correction down to below 0.7567 is expected. A rise above 0.7642 will abort the expected correction.
AUD-USD
0.8996. A corrective/consolidation activity between 0.8934 and 0.9079 is likely for a while.
USD-CAD
1.0170. There are initial signs of a good corrective recovery towards 1.0191 or even 1.0205. Supports at 1.0159 and 1.0141 zone.


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