EUR/USD
Daily Analysis
07 August 2008
Current level-1.5464
EUR/USD is in an uptrend from recent bottom at 1.5301, that was the final of the prolonged consolidation since 1.5909 (17 March 2008). Technical indicators are slowly rising and trading is situated between the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5181.
Slightly above our target at 1.5363 was yesterday's low at 1.5396 and there are signs, that a bottom was reached at the mentioned level, but only above 1.5516 and 1.5563 it will be clear, that the downtrend from 1.6039 is already over.
Today's strategy: Stand aside.
USD/JPY
Daily Analysis
07 August 2008
Current level - 109.46
The pair has finalized its corrective uptrend from 95.75 mid-term bottom with the recent top at 108.59. Trading is situated below the 50- and 200-day SMA, currently projected at 105.81 and 107.25.
Unfortunately there was no final leg downwards to complete the consolidation below 108.59 and with yesterday's break above the crucial 108.54, the uptrend has been renewed for 111.03. Currently a corrective phase is unfolding, that should meet 109.07 support before next leg upwards to 111.03.
Today's strategy: Stand aside.
GBP/USD
Daily Analysis
07 August 2008
Current level- 1.9507
The pair is in a broad consolidation above 1.9338 and below 2.0397. Technical indicators are flat on the higher time-frames and trading is situated below the 50- and 200-day SMA, currently projected at 1.9781 and 1.9913.
Yesterday's consolidation was limited below 1.9601 and the downtrend has been renewed, hitting low at 1.9464. This looks fine, but we think it is not enough for the slide from 1.9929 to complete, so expect 1.9521 to cap the upside potential for one more dip to 1.9443-32, before reversal and an uptrend to emerge, towards 1.9763.
Today's strategy : Stand aside.
Daily Analysis
07 August 2008
Current level-1.5464
EUR/USD is in an uptrend from recent bottom at 1.5301, that was the final of the prolonged consolidation since 1.5909 (17 March 2008). Technical indicators are slowly rising and trading is situated between the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5181.
Slightly above our target at 1.5363 was yesterday's low at 1.5396 and there are signs, that a bottom was reached at the mentioned level, but only above 1.5516 and 1.5563 it will be clear, that the downtrend from 1.6039 is already over.
Today's strategy: Stand aside.
| Resistance | Support | ||||||||||||
|
|
USD/JPY
Daily Analysis
07 August 2008
Current level - 109.46
The pair has finalized its corrective uptrend from 95.75 mid-term bottom with the recent top at 108.59. Trading is situated below the 50- and 200-day SMA, currently projected at 105.81 and 107.25.
Unfortunately there was no final leg downwards to complete the consolidation below 108.59 and with yesterday's break above the crucial 108.54, the uptrend has been renewed for 111.03. Currently a corrective phase is unfolding, that should meet 109.07 support before next leg upwards to 111.03.
Today's strategy: Stand aside.
| Resistance | Support | ||||||||||||
|
|
GBP/USD
Daily Analysis
07 August 2008
Current level- 1.9507
The pair is in a broad consolidation above 1.9338 and below 2.0397. Technical indicators are flat on the higher time-frames and trading is situated below the 50- and 200-day SMA, currently projected at 1.9781 and 1.9913.
Yesterday's consolidation was limited below 1.9601 and the downtrend has been renewed, hitting low at 1.9464. This looks fine, but we think it is not enough for the slide from 1.9929 to complete, so expect 1.9521 to cap the upside potential for one more dip to 1.9443-32, before reversal and an uptrend to emerge, towards 1.9763.
Today's strategy : Stand aside.
| Resistance | Support | ||||||||||||
|
|