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Forex Daily Report
Euro As indicated a few days back the Euro was vulnerable for a pull back as it couldn’t make a clean break above 1.3835 and indeed the correction materialized yesterday breaking key support at 1.3730.The big point to watch now is 1.3682 that was the prior all time high and a break below this level could open for a much bigger down move. Support/Resistance Res 3 1.3826 Res 2 1.3752 Res 1 1.3682 Sup 1 1.3594 Sup 2 1.3568 Sup 3 1.3529 Key resistance today 1.3845 Key support today 1.3594 Favoured strategy today: Bearish below 1.3682 Cable Comment: Bearish below 2.0530 and next key support is 2.0133 (Apr 07 high). Support/Resistance Res 3 2.0800 Res 2 2.0700 Res 1 2.0650 Sup 1 2.0350 Sup 2 2.0267 Sup 3 2.0221 Key resistance today 2.0563 Key support today 2.0267 Favoured strategy today: Bearish below 2.0563 Swissy CHF keeps on outperforming its European counterparts on the back of unwinding of carry trades. Bearish below 1.2133 and key support remains 1.1962. Support/Resistance Res 3 1.2234 Res 2 1.2196 Res 1 1.2133 Sup 1 1.2021 Sup 2 1.1962 Sup 3 1.1881 Key resistance today 1.2133 Key support today 1.1962 Favoured strategy today: Bearish below 1.2196 Yen Comment: Bearish below 119.29 (Friday’s high) today and the next key support level is 117.61. Support/Resistance Res 3 123.68 Res 2 122.60 Res 1 119.29 Sup 1 118.24 Sup 2 117.90 Sup 3 117.61 Key resistance today 119.29 Key support today 117.61 Favoured strategy today: Bearish below 119.29 EUR/JPY Comment: Bearish below 164.24 and the next target is 161.51 major support and on the approach of this level it should emerge buyers. Support/Resistance Res 3 166.94 Res 2 165.51 Res 1 164.24 Sup 1 162.21 Sup 2 161.51 Sup 3 161.09 Key resistance today 164.24 Key support today 161.51 Favoured strategy today: Bearish 164.24 EUR/GBP Comment: Saw a key reversal Thursday last week and it should test 0.6754 and possibly 0.6779 resistance near term. Support/Resistance Res 3 0.6779 Res 2 0.6754 Res 1 0.6746 Sup 1 0.6679 Sup 2 0.6650 Sup 3 0.6604 Key resistance today 0.6746 Key support today 0.6680 Favoured strategy today: Bullish above 0.6679 CAD Comment: Bullish above 1.0525 and the next key resistance level is 1.0760 now Support/Resistance Res 3 1.0760 Res 2 1.0714 Res 1 1.0650 Sup 1 1.0525 Sup 2 1.0485 Sup 3 1.0342 Key resistance today 1.0760 Key support today 1.0525 Favoured strategy today: Bullish above below 1.0486 Major events today (GMT) No major releases Rainer’s Astrological Column: (all times in GMT) On vacation and will be back Monday 6th of August. Risk Warning: Any information in this report is based on data considered to be reliable. but no representations or guarantees are made by Avantage Financial GmbH with regard to the accuracy of the data. This information is provided on condition that we accept no responsibility. legal or other for its contents. We. including our directors. officers. employees or publishers. disclaim all liabilities. Any statement constitutes only current opinions. which are subject to change. Neither the information nor any opinion expressed shall be construed to be. or constitute an offer to sell or a solicitation of an offer to buy any investments mentioned herein. Prices can go down as well as up. There is a significant risk involved in derivatives trading. and this could lead to a loss of all monies deposited. Past performance is no guarantee of future results.
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- Comment #1
- Edited 4:41am Jul 31, 2007 4:28am | Edited 4:41am
- winterwhite
- | Joined Feb 2007 | Status: Member | 0 Comments
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- Aug 1, 2007 11:07am Aug 1, 2007 11:07am
- Avantage
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- Aug 1, 2007 11:10am Aug 1, 2007 11:10am
- Avantage
- | Joined Sep 2006 | Status: Forex Analyst | 0 Comments