The Forex Markets Today

The Markets Today Friday 01 August 2008 / 11:40h CET

EUR/USD	1.5565
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
The move lower could gain speed in euro today. With strong initial resistance 1.5610 likely to top the market and space to fall to 1.5420		Bearish trend at 1.5650 is key – a weekly close above keeps the Euro at high levels.	1.5550 MINOR 1.5610 STRONG 1.5495 STRONG 1.5650 TREND 1.5420 STRONG 1.5700 KEY

GBP/USD	1.9785
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Cable touched the 1.9915 level just to fall and close the day bearish. Stay short, trend-line at 1.9885 is key, expect a fall towards 1.94 ish		Intra-day break of 1.9835 risks a spike up – sell such rallies, stop only upon a daily close above 1.99.	1.9750 MINOR 1.9835 STRONG 1.9680 STRONG 1.9885 TREND 1.9600 STRONG 2.0000 STRONG

USD/JPY	107.60
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Immediate bullish trend was broken, the correction stopped at 107.20 just to bounce back to 107.60. Strong initial support here, we expect another try of 108.20		A weekly close above 108.20 keeps the pair bid for 110. Failure to do so may see a side-ways range next week 106.50/108.50	107.55 STRONG 107.90 MINOR 107.20 STRONG 108.20 STRONG 106.65 KEY 108.90 MINOR

USD/CHF	1.0480
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Remains bullish, initial support at 1.0460, waiting to break higher – target 1.0660		1.0445 intra-day key support broken risks a set-back to 1.0350	1.0460 MINOR 1.0500 MINOR 1.0445 STRONG 1.0540 MINOR 1.0350 TREND 1.0660 TARGET

XAU/USD	909.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Volatile day yesterday, try both sides. The day ended underneath of 916 and we remain bears for a weekly close near 885		925 is key resistance today – a weekly close above that may hold Gold for a week.	900 MINOR 914 STRONG 895 STRONG 925 KEY 885 TARGET 931 STRONG

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Forex Market Overview

Forex Market Overview 01 August 2008

The Usd was able to hold on to late day gains in the Asian session, as weak initial jobless claims threaten to end the greenback strength. However, a late US session sell off in oil and less than hawkish comments from ECB members, quickly came to the Usd aid. The EurUsd traded lower from 1.5605 to 1.5550, while the UsdJpy bounced between 108.40 and 107.55. The AudUsd fell sharply lower, as a local media reported that the RBA was ready to start easing, trading down to 0.9360.. In the late Asia trading FX markets have gotten very quiet, as market seem willing to wait until this afternoon’s release of US Non Farm Payrolls. Crude is slightly weaker at $123.34bll, while gold is trading down to $910.50oz. As the trend of falling economic activity continues in the G10, we expect commodity prices to continue to soften, which, in turn, should support the Usd.

Paulson said yesterday in Washington that… "While the stimulus is making our economy stronger than it would have been otherwise, the housing correction, credit market turmoil and high energy prices remain a considerable drag on the economy -- and the effects of this drag can be seen in the soft job market". Paulson also expressed that he sees improvement in the US economy saying..."We are making progress, although not in a straight line. Housing continues to be at the heart of our economic challenges and remains our most significant downside risk…We must work though the necessary adjustments in housing and credit markets to return to growth next year and beyond."

A lack of data in European session will have the market squarely focused on the US session and the release of non-farm payrolls. The much better than expected ADP figures, which printed at 9k, has once again provided intrigue to today already volatile release. We still believe, after yesterday’s jump in initial jobless claims and further deterioration in the Conference Board survey (job component), that the risk are skewed to the downside. In addition, ADP has been overly optimistic in recent months. While we are expecting something slightly higher than the 75k consensus, our gut is saying that anything is possible today, especially how events and sentiment are falling in place for Usd bulls.

Daily Forex Pivot Point

AUDUSD
R 3: 0.9528
R 2: 0.9476
R 1: 0.9419
CURRENT: 0.9369
S 1: 0.9357
S 2: 0.9328
S 3: 0.9276

EURJPY
R 3: 169.73
R 2: 169.19
R 1: 168.31
CURRENT: 167.23
S 1: 167.10
S 2: 166.01
S 3: 165.33

USDSGD
R 3: 1.3850
R 2: 1.3827
R 1: 1.3717
CURRENT: 1.3694
S 1: 1.3606
S 2: 1.3567
S 3: 1.3501

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market Overview

Forex Market Overview 31 July 2008

The Usd traded sideways in Asian session, after the stronger ADP figures and rally on Wall Street pushed the greenback higher. The EurUsd traded in a 1.5525 to 1.5602 range, while the UsdJpy traded between 107.80 and 108.34. US stocks gained, as ADP pointed to a 9k gain vs. -60k, giving hope that Friday's NFP will prove stronger then the -75k expected. The S&P gained 1.7% and 2 year Ts dropped by 2.6%. Crude rallied to $126.88brl, but with global demand slowing we expected upside to be limited.

Yesterday's decision by the Turkish Constitutional Court not to close the AKP was clearly seen as positive for markets, with Try and equities gaining on the report (with a positive gap at the open today). While the verdict has not ended all domestic concerns, it will go a long way to ease investors concerns.

The Japanese Industrial production fell by -2.0% m/m vs. -1.7% exp. The government has already cut forecasts for industrial output, as surveys point to further weakness ahead.

The European Session will be focused on Eurozone's July flash CPI. The market is expecting a new record high of 4.1% and there is little evidence to suggest otherwise. This figure, combined with the sharp drop in key Economic Sentiment Indicator, will mean at some point soon the ECB will have to make a tough choice. Inflation or Growth.

Daily Forex Pivot Points
AUDUSD
R 3: 0.9637
R 2: 0.9590
R 1: 0.9528
CURRENT: 0.9438
S 1: 0.9404
S 2: 0.9328
S 3: 0.9276

EURJPY
R 3: 171.81
R 2: 171.07
R 1: 169.97
CURRENT: 168.27
S 1: 167.50
S 2: 166.01
S 3: 165.33

USDSGD
R 3: 1.3850
R 2: 1.3827
R 1: 1.3717
CURRENT: 1.3685
S 1: 1.3606
S 2: 1.3567
S 3: 1.3501

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Forex Market ADP Report

FX market focus on tomorrow Non-farm payrolls after ADP report gave a positive picture

News and Events:

The US dollar continued its recovery of the past ten days on Wednesday, helped by very good private sector jobs report for July and ongoing efforts from central bank officials to ease stress in financial markets. But this gain has been limited by a $4 a barrel rebound in crude oil prices after data showed an unexpected decline in US gasoline inventories last week.

Forex is focusing on tomorrow non-farm payrolls. Despite the positive employment picture from ADP Employer Services report, few analysts believe market may reverse gains on Friday's non-farm payrolls report.

Steps by the Federal Reserve, the European Central Bank and their Swiss counterpart to extend liquidity offers investment banks through January 2009 and introduce a new term auction facility also contributed to overall positive sentiment on the Dollar.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

The Forex Market Today

The Markets Today Thursday 31 July 2008 / 10:50h CET

EUR/USD	1.5610
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
We remain Dollar bullish. 1.5625 initial resistance, trend-line at 1.5665 – sell tops, expect a dip to 1.5500, target 1.5350 by tomorrow.		A clear break of 1.5665 stops the immediate bearish move and can see the pair recover to 1.5750 key.	1.5590 MINOR 1.5625 MINOR 1.5525 STRONG 1.5665 TREND 1.5490 STRONG 1.5750 KEY

GBP/USD	1.9805
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Cable is still holding the 1.9800 level, but the old bullish trend has been crossed long ago and we are waiting for a fall to 1.9660 or lower.		Initial resistance 1.9830 broken risks a rise to 1.9915 key.	1.9765 STRONG 1.9830 STRONG 1.9720 MINOR 1.9915 KEY 1.9660 STRONG 2.0000 STRONG

USD/JPY	108.20
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
As long as it remains above 108.05 we like to keep longs, target remains 110.		A break of 108.05 risks 107.70, an hourly close lower stops the bullish move and risks a set-back to 106.75	108.05 TREND 108.30 MINOR 107.70 STRONG 108.50 STRONG 106.75 KEY 108.90 MINOR

USD/CHF	1.0470
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
It maintains very high levels and is set to cross into the 1.05 handle for a push towards 1.0660		Watch 1.0445 initial support, a break there risks a set-back to trend-line at 1.0345	1.0445 STRONG 1.0500 MINOR 1.0405 MINOR 1.0540 MINOR 1.0345 TREND 1.0660 TARGET

XAU/USD	912.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Gold fell and recovered but is unable to cross the old 917 key level. Stay short, we look for another fall towards 885		An hourly close above 917 can see Gold recover up to 930	906 MINOR 917 STRONG 895 STRONG 925 MINOR 885 TARGET 933 KEY

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

The Forex Market Today

The Markets Today Tuesday 29 July 2008 / 10:00h CET

EUR/USD	1.5750
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Both, the top and the bottom held and the Euro was held in tight range. Minor bullish trend at 1.5730 this morning, while this holds we can re-challenge 1.5760/85 level		We remain bearish in the medium-term, an hourly close underneath of 1.5725 is a bearish signal. On top: a close above 1.5820 stops our view.	1.5730 MINOR 1.5765 STRONG 1.5690 STRONG 1.5820 KEY 1.5640 MINOR 1.5860 STRONG

GBP/USD	1.9935
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
The bullish trend held and Cable went to test the top. 2.00 is still key resistance, we like to try shorts here for a new dip to at least 1.9885.		An daily close above 2.00 keeps Cable bid. But a daily close underneath of rising support 1.9885 calls for a move lower	1.9925 MINOR 1.9970 MINOR 1.9885 TREND 2.0005 KEY 1.9810 STRONG 2.0060 MINOR

USD/JPY	107.60
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
More range trading ahead, we lower the range a few pips to 106.80 / 107.70.		An hourly close above 107.75 should lead to 108.50	107.30 MINOR 107.70 MINOR 106.80 STRONG 108.10 MINOR 105.85 STRONG 108.50 STRONG

USD/CHF	1.0330
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Not much of a dip so far. Here we expect the USD to test rising support 1.0285, wait to buy such a dip.		An hourly close underneath of 1.0270 stops our otherwise bullish view for a rise above 1.04.	1.0305 MINOR 1.0355 MINOR 1.0285 TREND 1.0400 KEY 1.0210 MINOR 1.0485 STRONG

XAU/USD	930.00
EXPECTATION		THE RISK	SUPPORT AND RESISTANCE
Small initial range 926 / 935 – possible extension towards 940, we like to sell tops for a medium-term move through 900		Minor bullish support 925 broken today will unleash a bearish move faster than expected with initial target 917	926 STRONG 936 MINOR 917 KEY 939 STRONG 908 MINOR 945 MINOR

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

ForexGen principals:

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.