Daily Market Comment - 21 February 2008



Daily Market Comment


EUR-USD
1.4715. It should trade higher to above 1.4759 while 1.4687 offer support. Minor support at 1.4665. Stop Loss below 1.4570 zone.
USD-CHF
1.0996. Market looks set for gains towards 1.1036 or above in extension. Dips should find support at 1.0986 - 1.0966 zone.
USD-JPY
108.12. It looks set for gains to above 108.50. Supports at 107.80 and 107.99. A break of 107.60 will damage this bullish structure.
GBP-USD
1.9418. Current fall is near an end of wave around 1.9331 - 1.9389 zone, a rally should then procede to above 1.9461 or 1.9493. Fall below 1.9287 would cancel this scenario.
EUR-CHF
1.6180. Market looks set for gains towards 1.6211 or above in extension. Dips should find support at 1.6152 - 1.6136 zone.
EUR-JPY
159.09. Corrective dips should ideally halt near 158.69 or 158.4 for one more thrust upwards towards 159.18 - 159.68 area or 160.26 in extention. Fall below 158.11 puts it back on a downward path.
EUR-GBP
0.7577. N/A
AUD-USD
0.9183. It should be subject to more sell off towards 0.9126 or 0.9069. Corrective upward swings should face resistance around 0.9225 area. A break of 0.9248 is bullish.
USD-CAD
1.0129. There are initial signs of a good corrective recovery towards 1.0164 or even 1.0183. Supports at 1.0118 and 1.0090 zone.


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