|EUR-USD @ 1.4470/73...Immediate Resistance in 1.4470-4500 region|
|R: 1.4470-4500 / 1.4520 / 1.4560|
S: 1.4400 / 1.4365-45 / 1.4300
Euro is continuing to trade higher above 1.4400. Immediate Resistance is seen in 1.4470-4500 region. If the current upside momentum continues, a strong break above 1.4500 might take it up towards 1.4630-50 over the next few days. On the downside, Support is seen at 1.4400, a break below which might pull it down towards 1.4350.
|EUR-JPY @ 132.71/75...Support at 8-DMA (132.29)|
|R: 133.14 / 134.50-70 / 135.00|
S: 132.29 / 131.95-75 / 131.40
The Cross has fallen from yesterday's high of 133.79 and tested the Support at the 8-DMA (132.29) in the Asian session today. This 8-DMA Support has held once again and the Cross has risen from the low of 132.14. Whie this 8-DMA Support continue to hold, we might expect a rise towards 135 in the coming days. On the other hand, a strong break below the 8-DMA (132.29) might pull it down towards 131.00.
|GBP-USD @ 1.6134/38...Support at 200-DMA (1.6078)|
|R: 1.6240-60 / 1.6300 / 1.6354|
S: 1.6078 / 1.6030 / 1.5965
Cable is trading in the range of 1.6050-6250 for the last couple of days. The 200-DMA (1.6078) is the immediate Support seen on the downside which held during the fall from yesterday's high of 1.6240 in the US session yesterday. If it continues to trade above 1.6100, we might see a rise once again towards 1.6250 in the coming sessions. On the other hand, a strong break below the 200-DMA might increase the chances of a dip once again towards 1.5900.
Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.