Although euro has retreated after meeting renew
ed selling at 1.3712/15, a breach of 1.3654 sup is
needed to confirm decline fm 1.3840 has resumed n
extend marginal weakness to 1.3635/40 but loss of
nr term momentum shud limit downside to 1.3609.
Wud be prudent to take profit on present fall n
look to sell again on subsequent recovery...
Rate: 1.3680
Strategy: Exit short
Position: Short at 1.3710
Objective:
Stop-Loss:
Resistance: 1.3721/1.3753/1.3785
Support: 1.3654/1.3609/1.3568
INTRA-DAY USD/JPY OUTLOOK - +118.35+
Although dlr has recovered after intra-day
cross-inspired selloff to 118.23, as long as 118.80
/85 holds, bearish-ness remains for the decline fm
y'day's 119.84 high to resume soon for re-test of
said sup, then twds 117.97.
Hold short with stop as indicated n abv wud
prolong choppy trading n risk 119.20/25...
Rate: +118.35+
Strategy: +Target met+
Position: Short at 118.70
Objective: 118.35
Stop-Loss:
Resistance: 118.86/119.10/119.35
Support: 118.23/117.97/117.19
WEEKLY EUR/YEN CROSS OUTLOOK - +162.00+
Last wk's rebound fm 160.47 to 163.75 suggests
major fall fm 169.05 top to retrace MT upmove has
made a temp. low there n consolidation is in store,
however, upside wud be ltd to 164.75/80 n yield an-
other decline, below said sup wud extend to 159.50
but loss of momentum wud bring recovery later.
Sell at 164.75 for 162.00 or if euro drops to
159.50 1st, venture long for 163.00 but 165.75/80
wud cap upside...
Rate: +162.00+
Strategy: +Target met+
Position: +Short at 164.75+
Objective: +162.00+
Stop-Loss:
Resistance: 164.68/165.40/166.35
Support: 162.21/161.57/160.47
Currency: EURNZD
Trade Objective: Trend Follower
Chart: Daily
Trade volatility: medium to high
Trade duration once triggered: min 03mn, max 04days.
Spread Consideration: Set the trade as it is below in its exact form
Long 18434 Target 12Pips Exact @ 18446
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INTRA-DAY AUD/USD OUTLOOK - 0.8472
Update Time: 10 Aug 2007 00:28 GMT
Although A$ has remained under pressure after
breaking y'day's 0.8485 low n decline fm 0.8663 is
likely to bring a re-test of 0.8446, loss of near
term downward momentum wud limit downside to 0.8420
/25 n yield rebound later but 0.8547 shud hold.
Venture long on dips n exit on rise, stop as in
dicated, break wud risk 0.8385/90...
Range Forecast
0.8450 / 0.8480
Resistance/Support
R: 0.8510/0.8547/0.8578
S: 0.8446/0.8400/0.8351
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