The Markets Today

The Markets Today Thursday 24 July 2008 / 10:00h CET

EUR/USD	1.5685
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Still in a downtrend, short-term resistance around 1.5690-1.5700 should hold for new lows around 1.5600 or even lower.		An hourly close above 1.5700 could break the bearish market and bring higher prices around 1.5750 – but need to stop there.	1.5750 STRONG 1.5750 STRONG 1.5695 TREND 1.5695 TREND 1.5615 KEY 1.5800 STRONG

GBP/USD	1.9935
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After breaking again the 1.9970 we see still space to trade lower prices this day. Target is 1.9725, but need to break key support at 1.9880 first.		Good Figures expected today, could bring a next rise to 1.9980 or even higher.	1.9900 STRONG 1.9970 TREND 1.9880 KEY 2.0020 MINOR 1.9725 STRONG 2.0060 STRONG

USD/JPY	107.80
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After testing again the 108 lvl positive times are over – short term expectation 107.20, could go much further		A final break of the 108 barrier could bring 108.50.	107.20 STRONG 108.00 STRONG 106.20 MINOR 108.50 STRONG 105.85 STRONG 110.00 STRONG

USD/CHF	1.0340
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
USD/CHF should hold here around 1.0375 to trade around 1.0500 later on. Even a drop to 1.0310 will not change bullish trend		Break of 1.0310 can possibly bring back the levels around 1.0150 -1.0225	1.0310 TREND 1.0450 STRONG 1.0290 STRONG 1.0510 STRONG 1.0225 STRONG 1.0560 KEY

XAU/USD	961.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
After trading 916 yesterday, we expect to see a little pull-back to 930, if holds short-term at 922-923		Hourly close beneath 920 brings lower levels again 916, even new lows around 900	922 TREND 930 STRONG 915 KEY 948 STRONG 900 MINOR 974 STRONG
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