Daily Market Comment - 26 February 2008



Daily Market Comment


EUR-USD
1.4830. It should be subject to more sell off towards 1.4802 or 1.4774. Corrective upward swings should face resistance around 1.4851 area. A break of 1.48615 is bullish.
USD-CHF
1.0894. Current upmove should continue up to 1.0932 or 1.097. Any correction should find support in 1.0892 - 1.0873 zone.
USD-JPY
108.06. Current upmove should continue up to 1.0932 or 1.097. Any correction should find support in 1.0892 - 1.0873 zone.
GBP-USD
1.9672. Current upmove should be over between1.9687 and 1.9663. A correction down to 1.9578 is anticipated. A break of 1.9710 is bullish.
EUR-CHF
1.6155. Current rise seems to be over near 1.6166 or 1.6189 for a retracement towards 1.6143 - 1.6127 area.
EUR-JPY
160.27. Current rise seems to be over near 160.34 or 160.81 for a retracement towards 159.87 - 159.60 area.
EUR-GBP
0.7538. One more dip to 0.7523 or 0.7508 is likely followed by a grind higher to above 0.7547 or 0.7570. After which it can resume its downtrend.
AUD-USD
0.9270. Currently uptrend should end around 0.9298 - 0.9290 area. A correction down to below 0.9233 is expected. A rise above 0.9310 will abort the expected correction.
USD-CAD
0.9962. Market should meet resistance at 1.0013. We expect then an extended move down to 0.9909 -0.9808 area.



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