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4/1/2008 report

Friday, January 4, 2008

euro

The European currency continued in the upside direction yesterday due to the signals it had previously formed to take the euro up until 1.4780s resistance area. The technical oscillators indicated the upside potential; hence, the euro might cause a significant move if it passes the major resistance area around 1.4800.

The trading range for today might be between the key resistance level at 1.4880 and the key support level at 1.4670.


The general trend is up as far as 1. 3860 remains intact targets now at 1.5000 and 1.5230




Support 1.4743 1.4718 1.4694 1.4670 1.4647
Resistance 1.4765 1.4780 1.4803 1.4825 1.4850

Recommendation
We expect buying Euro above 1.4720 with a target at 1.4820 stop loss below 1.4670.

gbp

The British pound yesterday dropped in a strong bearish move as it couldn't breach the major resistance level located around 1.9840s area. The pound fell sharply to hit the strong support at 1.9700s, and is seen to remain weak therefore the pound is expected to progress in the downside direction.

The trading range for today might be between the key resistance level at 1.9870 and the key support level at 1.9500.


The general trend is up as far as 1.9460 remains intact targets now at 2.1170 and 2.1450




Support 1.9685 1.9665 1.9638 1.9620 1.9590
Resistance 1.9726 1.9745 1.9767 1.9789 1.9826

Recommendation
...

jpy

The dollar against the Japanese yen yesterday declined in a major move to hit the important support level at 108.20s and failed to progress due to the support's strength so the pair reversed back to the upside direction in the last trading sessions to close with tendency to the upside. Today the pair is expected to move in a bullish pattern.

The trading range for today will be between the key resistance at 111.00 and the key support at 107.80.


The general trend is down as far as 121.30 remains intact, targets at 112.40 and 111.20.




Support 109.37 109.10 108.82 108.56 108.34
Resistance 109.56 109.85 110.05 110.27 110.48

Recommendation
...

chf

The dollar against the SWISS Frank yesterday lacked momentum resulting in a key drop to show the confirmation on the bearish pattern. In the meantime, the technical studies still show the downside potential for today's trading.

The trading range for today will be between the key resistances at 1.1250 the key support at 1.1000.

The general trend is down as far as 1.2020 remains intact, targets at 1.0900 and 1.0740.




Support 1.1106 1.1087 1.1069 1.1045 1.1027
Resistance 1.1135 1.1150 1.1185 1.1216 1.1236

Recommendation
We expect selling USD/CHF below 1.1140 with a target at 1.1080, stop loss above 1.1185.

cad

The dollar against the Canadian yesterday moved to the downside direction with high level of volume to show the progressive bearish pattern to set the target at 0.9760s support area as the technical parameters indicated.

The trading range for today will be between the key resistance at 1.0018 and the key support at 0.9700.


The general trend is down as far as 1.0450 remains intact, targets will be at 0.9000 and 0.8880.




Support 0.9884 0.9867 0.9840 0.9818 0.9797
Resistance 0.9900 0.9913 0.9932 0.9957 0.9983

Recommendation
We expect selling USD/CAD below 0.9900 with a target at 0.9800, stop loss above 0.9950.

source http://www.crownforex.com/en/newscenter-major_analysis_tech.aspx

Posted by MOHAMED SAID at 1:26 AM  

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