Tuesday, September 11, 2007

DAILY FOREX MARKET COMMENTS

Tuesday September 11, 2007

EUR-USD

1.3802. Current rise should end around 1.3795 or 1.3823. Objectives of this downmove are 1.3773 or 1.3745. A rise above 1.3845 is again bullish.

USD-CHF

1.1865. It should test higher than 1.1883. Entry points are at 1.1853 and 1.1844. A break of 1.1823 is bearish.

USD-JPY

113.71. Is expected to fall lower than 112.04. Entry sell point are at 113.86 or 114.27 . Stop loss above 114.27.

GBP-USD

2.0277. Decline should be supported around 2.025 - 2.0222 zone for rally to above 2.0358. A clear break of 2.0222 will damage this expected rally.

EUR-CHF

1.6376. It should test 1.64 area after which a sell off down to 1.6341 or extended to 1.6306 area is expected.

EUR-JPY

156.96. It should test 158.36 area after which a sell off down to 155.63 or extended to 154.29 area is expected.

EUR-GBP

0.6806. Current rise should end around 0.6799 or 0.6816. Objectives of this downmove are 0.6790 or 0.6773. A rise above 0.6825 is again bullish.

AUD-USD

0.8258. Market should hold major support at 0.8159 before rising towards 0.8296 or even 0.8335 limit.

USD-CAD

1.0520. There are initial signs of a good corrective recovery towards 1.0556 or even 1.0568. Supports at 1.0519 and 1.0494 zone.