Daily FX Market Comment 24/3

Discussion in 'Forex Trading' started by nico3725, Mar 24, 2003.

  1. EUR/USD 1.0594. EUR broke below 1.0530 briefly but recovered quickly this morning. Short term pictures look positive for a rise to 1.0620/25 or 1.0640/45 while above 1.0550/40. Some of our Daily Indicators have started giving out some warning signals about being aggressively short as of now.

    USD/CHF 1.3923. Dollar tested our suggested target near 1.4050 on break of 1.3970. Now 1.3975/90 may cap its short term rise for a fall to 1.3870/65, below which 1.3835/25 also may be seen.

    USD/JPY 121.01. Short term bearishness is likely to be contained above 120.60 or 120.35 for some consolidative activity. Immediate resistances are at 121.35 & 121.65.

    GBP/USD 1.5660. Cable may trade in 1.5615-1.5715 range for some time.

    EUR/CHF 1.4746. Support has moved up to 1.4730/25. While above this level EUR can try once more 1.4775/80. Below 1.4725, it may be sold off to 1.4695/90.

    EUR/JPY 128.33. Short term advances may stall near 128.55/60 for a fall to 127.85/80.

    EUR/GBP 0.6766. Short term rise to 0.6785/90 is possible while above 0.6740.

    AUD/USD 0.5935. Grind higher to 0.5955/60 is possible. Supports are at 0.5915 & 0.5900.

    USD/CAD 1.4863. Dollar may be supported at 1.4840/20 levels for a rise to 1.4945/60.
     
  2. 24.03.03. 05.40 GMT.

    EUR/USD.. .1.0605. EUR went down further last week & markets are jittery over developments on war front. Still considering this down move as correction. Supports are now at 1.0500, 1.0460 & 1.0320. As long as the last support contains the weakness EUR will retain the chances for resuming its uptrend towards 1.1125/1.1280/1.1335.

    USD/CHF.. 1.3895. Dollar's corrective phase is expected to last for some time. Resistances are at 1.4060, 1.4105 & 1.4320. As long as Dollar remains below 1.4315/25 we cannot rule out the possibility of down move to 1.3155/1.3060/1.2930.

    USD/JPY..120.85. Dollar broke above our resistance levels & now it looks positive for test of 122.15 or 122.60. Supports are at 120.25 & 119.25.

    GBP/USD..1.5665. As suggested Cable went down to 1.5535. Resistances are at 1.5750,1.5825 & 1.5885. As these hold one more drop to 1.5430/25 is on the cards.

    Regards.
     
  3. EUR/USD 1.0684. EUR as suggested moved up to test 1.0690 so far. Short term pictures argue for further rise to 1.0730/35 or 1.0750/55. Supports are at 1.0640 & 1.0620. Minor support is at 1.0655.

    USD/CHF 1.3797. Dollar should fall to 1.3745/25. Minor resistance is at 1.3825 & above that 1.3865/85.

    USD/JPY 119.85. Dollar’s declines may be supported around 119.55 or 119.20. So long as Dollar is held above these levels (allow for 119.00) it will retain the chances of one more test up to 122.05/10.

    GBP/USD 1.5779. Cable should inch up to 1.5815/35. Supports are at 1.5740 & 1.5715.

    EUR/CHF 1.4737. No change in view. Support has moved up to 1.4730/25. While above this level EUR can try once more 1.4775/80. Below 1.4725, it may be sold off to 1.4695/90.

    EUR/JPY 128.06. EUR may stall near 128.30 for a drift down to 127.65 in short term.

    EUR/GBP 0.6764. One more short term rise to 0.6785/90 is possible while above 0.6740.

    AUD/USD 0.5953. Grind higher to 0.5975/80 is possible. Supports are at 0.5935 & 0.5920.

    USD/CAD 1.4780. Dollar drift lower to 1.4740 in short term. Resistance is at 1.4845/55.
     
  4. EUR/USD 1.0654. Short term drop to 1.0615/10 is now possible while below 1.0680/85. Chances of one more move higher to 1.0730/50 are still alive as long as 1.0590/75 area contains the weakness.

    USD/CHF 1.3822. Dollar should rise to 1.3865/80 in short term while above 1.3780.

    USD/JPY 119.85. No change in view. Dollar’s declines may be supported around 119.20/15.So long as Dollar is held above these levels (allow for 119.00) it will retain the chances of one more test up to 122.05/10.

    GBP/USD 1.5751. Short term rise to 1.5775/90 is possible. On bigger pictures, it should drop to 1.5575/50 or 1.5430/25 as long as 1.5880/1.5900 is not taken out convincingly.

    EUR/CHF 1.4728. EUR may trade in 1.4695-1.4745 range for some time.

    EURJPY 127.70. EUR is expected to find support either at 127.35 or 127.00 for a rise to 128.35/40 initially & 128.90/129.35 later.

    EUR/GBP 0.6759. Short term drop to 0.6740 is possible while below 0.6780/85.

    AUD/USD 0.5965. Some range trading between 0.5940 & 0.5985 is expected.

    USD/CAD 1.4764. Dollar drift lower to 1.4680/60. Resistance is at 1.4815/40.
     
  5. EUR/USD 1.0710. EUR is moving along projected lines so far & should rise to 1.0750/55 now in the short term. Supports are at 1.0685 & 1.0655.

    USD/CHF 1.3785. Having tested our suggested 1.3880 level yesterday, Dollar should fall to 1.3685 now. Resistances are at 1.3830, 1.3855 & above that 1.3880.

    USD/JPY 119.70. No change in view. Dollar’s declines may be supported around 119.20/15. So long as Dollar is held above these levels (allow for 118.90) it will retain the chances of one more test up to 121.55/60 or 122.55/60.

    GBP/USD 1.5751. No change in view. Short term rise to 1.5775/1.5810 is possible. On bigger pictures, it should drop to 1.5575/50 or 1.5430/25 as long as 1.5880/1.5900 is not taken out convincingly.

    EUR/CHF 1.4767. EUR has broken above recent highs & looks good for a test of 1.4795/00 or 1.4810/15.

    EUR/JPY 128.18. No change in view. EUR is expected to find support either at 127.35 or 127.00 for a rise to 128.35/40 initially & 128.90/129.35 later. Minor support is at 127.55.

    EUR/GBP 0.6794. One more rise to 0.6815 is possible. Supports are at 0.6780 & 0.6755.

    AUD/USD 0.5995. It seems to have met one target near 0.6005. Break above this level will prompt test of 0.6035/40.

    USD/CAD 1.4664. Dollar has met our target near 1.4660. Now a rise to 1.4730/35 is looked for. Before that, scope for dip to 1.4630/25 exists.

    Source : http://www.realtimeforex.com/newsadmin/user_daily_market_e.asp
     
  6. EUR/USD 1.0687. EUR found support above 1.0690 & rose to just under 1.0750 yesterday as anticipated. Now short term weakness may push it down to 1.0650 or 1.0625. Resistance is at 1.0700/10.

    USD/CHF 1.3831. Dollar’s downside was well contained above 1.3765 itself yesterday. Short term positive outlook may carry it up to 1.3865 or 1.3910/15. Supports are 1.3805 & 1.3765.

    USD/JPY 120.15. No change in view. Dollar’s declines may be supported around 119.20/15. So long as Dollar is held above these levels (allow for 118.90) it will retain the chances of one more test up to 121.55/60 or 122.55/60. In the very short term there may be some downside retracement from 120.60/80 region.

    GBP/USD 1.5657. The suggested short term rise to 1.5785 materialized before the sell off. Persisting bearishness should take Cable down to 1.5585/70 or 1.5535/20. Resistance is at 1.5710/25.

    EUR/CHF 1.4784. EUR strength is likely to continue for some time & it should see 1.4830/35. Support is at 1.4755/50.

    EUR/JPY 128.46. No change in view. Supports have moved up to 128.00 & 127.60. More supports are at 127.35/00. It should rise to 128.65/70 initially & 129.10/35 later.

    EUR/GBP 0.6819. Expect EUR to grind higher to 0.6855/60 while above 0.6800/0.6790.

    AUD/USD 0.5989. AUD may be supported around 0.5975 for some consolidation.

    USD/CAD 1.4644. No change in view. Rise to 1.4730/35 is looked for.
     
  7. EUR/USD.. .1.0825. EUR went into consolidation last week & markets continue to be jittery over developments on war front. Still considering this down move as correction & it is a bit early to say if the down correction is over or not.. Supports are now at 1.0500, 1.0460 & 1.0320. As long as the last support contains the weakness EUR will retain the chances for resuming its uptrend towards 1.1125/1.1280/1.1335.Immediate resistances are at 1.0865/80 & 1.0910/20.

    USD/CHF.. 1.3635. No change in view. It will take a while to know if up correction is over or not.Resistances are at 1.4060, 1.4105 & 1.4320. As long as Dollar remains below 1.4315/25 we cannot rule out the possibility of down move to 1.3155/1.3060/1.2930.

    USD/JPY..119.21. Dollar still looks poised for test of 122.15 or 122.60/70. Supports are at 118.65 & 118.25.

    GBP/USD..1.5765.No change in view. As suggested Cable went down to 1.5535. Resistances are at 1.5825 & 1.5885. As these hold one more drop to 1.5430/25 is on the cards.

    Regards.

    Source : http://www.realtimeforex.com/newsadmin/user_daily_market_e.asp
     
  8. EUR/USD 1.0912. Initial signs of EUR having finished its downside correction have appeared. EUR should march towards 1.1015/25 now. Supports are at 1.0860/50 & below that 1.0830.

    USD/CHF 1.3520. Any corrective rise in Dollar are likely into resistance in 1.3575/90 area for a fall to 1.3380/55. More resistance lies near 1.3625/30(S/L).

    USD/JPY 118.23. Break below 118.75 proved us wrong & turned the picture bearish. Dollar should target 117.30/25 now. Resistances are at 119.00 & 119.25. Minor resistance is at 118.70.

    GBP/USD 1.5822. Short term bullishness can help Cable grind higher to 1.5875/80. Supports are at 1.5750 & 1.5730. It has to clear past 1.5880/90 to come out of selling pressure.

    EUR/CHF 1.4758. EUR may trade in 1.4725-1.4795 range for some time.

    EUR/JPY 129.04. Short term drop to 128.65 is possible while below 129.40.

    EUR/GBP 0.6891. EUR should climb to 0.6925/30. Supports are at 0.6870/60.

    AUD/USD 0.6050. Sell on break of 0.6020 for a drop to 0.5975/60.

    USD/CAD 1.4664. Short term drop to 1.4640/35 is possible.
     
  9. EUR/USD 1.0889. Basically no change in view. Short term weakness may push EUR down to 1.0865/55 while below 1.0910. On bigger pictures, EUR looks poised for further gains towards 1.0975 or 1.1015/35. Immediate support is at 1.0865 & below that 1.0825/05.

    USD/CHF 1.3575. Correction is on & Dollar may test 1.3615/25 or 1.3650. Support is at 1.3545/40. Resistance lies near 1.3675/80. After this correction USD should resume its downtrend to 1.3380/55. EURCHF..1.4784. EUR may test 1.4825/30 while above 1.4750/45.

    USD/JPY 118.38. No change in view. Dollar should target 117.30/25 now. Resistances are at 119.00 & 119.25. Minor resistance is at 118.70.

    GBP/USD 1.5756. Short term weakness may push Cable down to 1.5735/25. Break below 1.5720 will push it down to 1.5680. It has to clear past 1.5880/90 to come out of selling pressure.

    EUR/CHF 1.4784. EUR may test 1.4825/30 while above 1.4750/45.

    EUR/JPY 128.78. EUR is likely to trade in 128.40-129.15 range for some time.

    EUR/GBP 0.6895. EUR may have completed a 5 wave move from 0.6755, but need more confirmation. Break of immediate support at 0.6885 may yield 0.6860/55.

    AUD/USD 0.6036. Support at 0.6020 is holding so far. Break of this level will push AUD down to 0.5975/60.

    USD/CAD 1.4756. Short term blip higher to 1.4780/85 is possible. Supports are at 1.4720 & 1.4700.
     
  10. EUR/USD 1.0776. Break below 1.0805 & more importantly below 1.0775 has dampened the bullish structure. On bigger picture it is a bit early to give up the bullish count. Short term pictures hint at further weakness towards 1.0695/75. Resistances are at 1.0825 & 1.0850. Minor resistance ahead of these is at 1.0800.

    USD/CHF 1.3771. Underestimated the Dollar strength yesterday. It should now climb to 1.3865 or 1.3935. Immediate support is at 1.3700 & below that 1.3665 & 1.3635.

    USD/JPY 118.68. Resistance at 119.25 is holding well so far. Short term pictures hint at one more test higher to 119.35/60 while above 118.50.

    GBP/USD 1.5678. One more chance for dip to 1.5630/00 exists while below 1.5715/40.

    EUR/CHF 1.4840. EUR’s present strength should carry it up to 1.4875/85. Supports are at 1.4800 & 1.4775.

    EURJPY 127.88. EUR is likely to lower to 127.55/40 while below 128.40/45.

    AUD/USD 0.6016. Short term bearishness may push AUD down once more to 0.5985/80.

    USD/CAD 1.4690. Short term drift down to 1.4645/40 is possible. Resistances are at 1.4725 & 1.4740.
     
    #10     Apr 3, 2003