Daily Market Comment - 29 January 2008

EUR-USD
1.4781. Market looks set for gains towards 1.4832 or above in extension. Dips should find support at 1.4747 - 1.4722 zone.
USD-CHF
1.0893. Bullish reaction to above 1.0949 is anticipated from 1.0883 - 1.0893 zone. Stop loss below 1.0816 zone.
USD-JPY
106.89. It should test 107.64 area after which a sell off down to 106.25 or extended to 105.61 area is expected.
GBP-USD
1.9843. A corrective/consolidation activity between 1.9751 and 1.9908 is likely for a while.
EUR-CHF
1.6101. It should be subject to more sell off towards 1.6050 or 1.5998. Corrective upward swings should face resistance around 1.6154 area. A break of 1.61515 is bullish.
EUR-JPY
158.01. It may attempt a test higher to 158.12 after which weakness may set it to a drift down to below 156.30 limit.
EUR-GBP
0.7449. It should be subject to more sell off towards 0.7407 or 0.7365. Corrective upward swings should face resistance around 0.7497 area. A break of 0.7488 is bullish.
AUD-USD
0.8891. Market looks set for gains towards 0.8933 or above in extension. Dips should find support at 0.8850 - 0.8829 zone.
USD-CAD
1.0035. It is a triangle configuration. Market should break either side. Acceleration should occur above 1.0119 or under 1.0023 limits.


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