The Markets Today Monday 21 July 2008 / 09:25h CET |
EUR/USD | 1.5860 | ||||||||
EXPECTATION | THE RISK | SUPPORT AND RESISTANCE | |||||||
Strong initial range 1.5810 / 1.5880 this morning. A break on top has room for a lift towards 1.60, with a daily close above we can remain bullish. | There is loots of space lower, an hourly break at 1.5810 should see a drop to 1.5750. A low daily close has room for 1.5610 by tomorrow. |
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GBP/USD | 1.9920 | ||||||||
EXPECTATION | THE RISK | SUPPORT AND RESISTANCE | |||||||
Very strong basis at 1.9900, while it holds Cable should re-try the 2.00 level, but it needs a daily close above that to stay bullish. | An hourly close underneath of 1.9890 stops the short-term bullish outlook and risks a fall to 1.9800, medium-term rising trend. |
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USD/JPY | 106.70 | ||||||||
EXPECTATION | THE RISK | SUPPORT AND RESISTANCE | |||||||
USDJPY overshot and remains bid at 106.60 for now. While this holds there is a possibility to retry the 107.15 resistance level, an higher close is bullish for 108.50 | An hourly break of 106.55 risks a pullback to 105.85 |
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USD/CHF | 1.0220 | ||||||||
EXPECTATION | THE RISK | SUPPORT AND RESISTANCE | |||||||
The pair broke the recent bullish trend and is stuck in a small neutral range of 1.0180 / 1.0250, we see no direction here but watch out for a break lower. | We see a possible extension to 1.0285, failure to close the day above that however is bearish for a retry of the 1.00 key |
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XAU/USD | 961.00 | ||||||||
EXPECTATION | THE RISK | SUPPORT AND RESISTANCE | |||||||
Gold maintained the range, today this range has narrowed to 942 / 968. Closer to the top we may try selling at 963/965 with a tight stop. | A break through 968 and daily close above that is bullish Gold. |
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