Apr, 01th of March, 2008
By Setyo Wibowo (email@example.com)
Yesterday EURUSD failed to make break out upside from 1.5904 and 1.5560 ranging area.Ã‚Â Although I am beginning to doubt the bullish strength, today I am expecting that EURUSD is going to make another test to break upside and maintain to move above 1.5904. Immediate minor support is 1.5725.
EURUSD Daily Supports and Resistance
So far, GBPUSD maintain to move below 1.9863 (50% Fibonacci retracement from 1.9336 to 2.0397) which is very supporting for continuing bearish view.Ã‚Â Nearest target is 1.9743( 38.2 Fibonacci retracement from 1.9336 to 2.0397) and then 1.9585.
GBPUSD Daily Supports and Resistances
We saw a weaker Dollar against the Japanese Yen yesterday, but USDJPY is still moving in ranging market between 100.63 and 98.77 area ( 38.2% and 23.6% Fibonacci retracement from 108.60 to 95.73).Ã‚Â I am expecting USDJPY would break out from that ranging movement today.
USDJPYÃ‚Â Daily Supports and Resistances:
Still in bearish mode, but USDCHF need to at least break the minor support at 1.9850 before targeting 0.9636 (17/03/2008 low). Immediate resistance at 0.9988. Keep watching the co-relation with EURUSD.
USDCHF Daily Supports and Resistances