Daily Forex Forecasts
USD/JPY Daily Forecast 06.02
USD/JPY - 106.40 - 06 Feb 2008 06:06 GMT
Although intra-day breach of 106.38 signals the
decline from 107.75 has resumed and further weakness
to 106.25/30 cannot be ruled out, near term o/sold
condition should limit weakness to 106.00 and risk has
increased for a rebound later.
Would be prudent to exit intra-day short and stand
aside. Above 106.86 signals low is made, 107.10/15...
Range Forecast
106.30 / 106.55
Resistance/Support
R: 106.86/107.13/107.75
S: 106.15/105.71/104.95
EUR/USD Daily Forecast 06.02
The Euro has declined on yesterday as most medium term studies indicated, breaking the support levels at 1.4800, 1.4750 and all the way down to 1.4625. Support starts now at 1.4625 backed by 1.4590 and 1.4560. Resistance emerges at 1.4660 followed by 1.4690 and 1.4740. Daily studies are bearish and the Euro has to recover above 1.4750 in order to signal a reversal and a resume of the uptrend. Hourly charts are slightly bullish at the time of this report and we expect the Euro to advance higher towards 1.4700 where it may face a strong resistance. The downside seem favored still and the US dollar may advance versus the Euro, bringing the 1.44 area on focus where the next mid-term support is seen (the trendline started at 1.4310 on December 2007 advancing through January's low of 1.4365). The is no sign of an Euro recovery yet therefore we would like to avoid long positions and rather stay on the short side, changing our view in case of a break above the mid 1.47 area. Current quote is 1.4649 @07:05 GMT
USD/JPY Daily Forecast 04.02
USD/JPY - 106.96 - 04 Feb 2008 01:27 GMT
Dollar has risen again in Asian morning due to
renewed cross-selling in yen, however, near term over
bought condition is likely to limit gain to 107.00/
10 and risk has increased for a pullback later.
Would not advise chasing present upmove and look to
buy on subsequent retreat as only below intra-day
low at 106.40 (Aust.) signals top has been made...
Range Forecast
106.65 / 107.00
Resistance/Support
R: 107.07/107.47/107.90
S: 106.40/106.03/105.71
Daily Majors Forecast 29.01
EUR/USD - Tue, 29 January 2008 13:10:05
Resistance levels: 1.4800/1.4860/1.4920
Support levels: 1.4750/1.4700/1.4650
EUR/USD
has traded ranged above 1.4740 first Support earlier today Today focus
will be on US Core Durable Goods numbers at 13:30 GMT and Consumer
Confidence at 15:00 GMT . The consensus is at 0.0%. The break beyond
1.4780 signals further upmove towards 1.4860 over the next trading
sessions if the number comes out at -2.0% or more negative and 1.4920
in mid term. First immediate Resistance comes around 1.4800 On
downside, first Support comes around 1.4750 Below turns price back to
1.4700 later today if the number comes out at 2.0% or higher .and even
1.4660-50 key Support area in longer term Look to buy on pullback for
test higher towards 1.4860 and 1.4920 in longer term.
GBP/USD - Tue, 29 January 2008 13:10:04
Resistance levels: 1.9900/2.0020/2.0150
Support levels: 1.9850/1.9800/1.9730
GBP/USD
has risen beyond 1.9900 Resistance over the last trading sessions as it
was suggested The break above 1.9790 previous important levels has
recovered price beyond 1.9900 later today and opens territory for test
of the longer term target at 2.0020 On downside, below 1.9730 Support
eases price back to 1.9600 bottom in mid term First immediate Support
comes near 1.9850 ahead of 1.9800 stronger one.
USD/JPY - Tue, 29 January 2008 13:10:03
Resistance levels: 107.20/107.90/108.50
Support levels: 106.00/105.00/104.20
USD/JPY
has retested 117.20 Asia highs earlier today No change in our view. The
bias remains bearish for further downmove below 106.00 and even towards
104.20 in longer term as long as price remains below 107.90 key level
First Support comes at 106.50 ahead 106.00 stronger one On the upside,
a break above 107.90 again signals for reversal in the bias and test of
108.50 and 110.10 in longer term First Resistance comes at 107.20
previous highs Above that levels squeezes price again towards 107.90
key level later today.
USD/CHF - Tue, 29 January 2008 13:10:02
Resistance levels: 1.0950/1.1000/1.1060
Support levels: 1.0900/1.0850/1.0830
USD/CHF
has reversed above 1.0930 first minor Resistance earlier today
Unfortunately. our Short position has been stopped at 1.0925 with small
15 pip loss No change in our view On downside, the break below 1.0950
unlocks territory for further downmove towards 1.0850 and even 1.0830
bottom in longer term. First Support comes at 1.0900 again On the
upside, a break above 1.1000 Resistance again is needed for test
towards 1.1100-10 area in longer term First immediate Resistance comes
near 1.0930 Beyond squeezes price to 1.0970-80 region later today.
EUR/JPY - Tue, 29 January 2008 13:10:01
Resistance levels: 158.50/159.10/160.00
Support levels: 157.00/155.50/154.80
The
Cross has found Support at 157.00 earlier today No change in our view .
Beyond 159.10 is needed now for recovery price to 160.00 and 161.00 in
longer term First Resistance comes at 158.50 Asia highs now On
downside, first important Support comes around 157.00 Below turns price
back to 155.50 daily bottom over today and tomorrow.
EUR/USD Daily Forecast 28.01
The Euro failed to hold above 1.47 on Friday and declined into the mid 1.46 area, finding support at 1.4660. Support backs 1.4660 at 1.4620 and 1.4570. Resistance emerges at 1.4700 followed by 1.4730 and 1.4780. Daily sentiment is slightly bearish and a close above the 1.4730 mark is needed to confirm a reversal. Hourly studies are neutral at the time of this writing. The Euro will probably recover some of its recent losses by climbing towards 1.4710-1.4730 but we do not expect it to get too far yet, instead getting into a ranging period. Current quote is 1.4675 @07:00 GMT
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