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Forex Commentary 27.07.2004
26.07.2004 (01.20am US TIME)
USD/JPY(CURRENT LEVEL 109.85) - STILL USD CANNOT BREAK 110.30 REGION. VERY POSIBLE IS CORECTION TO 108.80/109.20. THE SUCCESFUL TEST BREAKINGTHROUGH ABOVE-MENTIONED RESISTANCE WILL OPEN THE WAY TO RISE TO 110.70/111.40.
EUR/USD(CURRENT LEVEL 1.2130) - YESTERDAY WE SAW BOUNCE TO 1.2170 REGION. STILL WE HAVE STRONG SUPPORT AT 1.2060. NEXT DIRECTION DEPEND ON TODAY`S DATA FROM GERMANY (INDEX IFO) AND DATA FROM USA (CONSUMENT CONFIDENCE; MORE IMPORTANT FOR MARKET.
USD/CHF(CURRENT LEVEL 1.2650) - YESTERDAY USD FIND SUPPORT AT 1.2590. RESISTANCE 1.2670/80, WHEN WE BREAK THIS WE COULD SEE RISE TO 1.2750. SCENARIO FOR USD IS STILL POSITIVE. ONLY FALL BELOW 1.2590 WOULD NEGATE THIS.
GBP/USD (CURRENT LEVEL 1.8412) - STRONG SUPPORT - 1.8300. STRONG RESISTANCE - 1.8450. NEXT DIRECTION DEPEND ON BREAKINGTHROUGH ABOVE MENTIONED REGIONS.
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