|EUR-USD @ 1.4347/78...200-DMA Strong Support at 1.4192|
|R: 1.4416-40 / 1.4510-28 / 1.4615-34|
S: 1.4280-69 / 1.4208 / 1.4026
The Euro has been extremely bearish over the last three weeks. This week, the pair may see some correction as it hasn't seen a decent correction since it turned bearish three weeks ago. If not immediately, the pair may rise after falling towards the 200-DMA at 1.4192. This is also very close to the Projected Max Low for the day which is at 1.4208. It would make great sense to buy near the Projected Max Low for the day (if seen) as a host of Supports seems to be forming in this region.
For today, there's Support at 1.4280 which is the 38.2% retracement of the rise from April '09 and also 61.8% retracement of the rise since June '09. For this week, the pair is likely to take Support in the nreoad 1.42-1.41 region.
|USD-JPY @ 90.41/45...Mixed|
|R: 90.94-91.10 / 91.35 / 92.20|
S: 90.00-89.80 / 89.20-00 / 88.60
The Resistance at 90.85 continued to hold in the US session on Friday and Dollar-Yen has fallen from the high of 90.91. However, it is continuing to trade above 90 in the Asian session today which still keeps the chances of a rise once again towards 90.80-91.00. The significant Resistance levels on the upside are seen at 90.94 (100-DMA), 91.08 (21-Week MA). On the downside Support is seen at 89.80. A break below this Support might pull it down towards 89.20-00. As of now the pair is looking mixed with 50-50 chances of moving on either side.
|EUR-JPY @ 129.67/70...May rise this week.|
|R: 129.79-90 / 130.64 / 130.97|
S: 129.44-29 / 128.19-127.96
Last week, the Cross fell towards 127.31 and every time it has fallen towards this level since the whole of last year, it has bounced back sharply. By that token and also by the fact that the 55-DMA, 100-DMA ans 200-DMA are all trading flat now, the pair may oscillate around these. This may entail a rise back towards 132.50 over the next few days.
For today, the Projected Max High and Low for the day is at 130.97 and 127.96 respectively.
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