forex commentary 20.07.2004

[profi-forex]

20.07.2004 (01.45 US TIME)

USD/JPY(CURRENT LEVEL 108.71) - YESTERDAY USD FIND SUPPORT AT 108.10. FROM THIS REGION WE HAVE BOUNCE. WE BROKE RESISTANCE AT 108.50/70. NOW WE SHOULD SEE TEST 109.00 REGION. MARKET SHOULD WAIT FOR GREENSPAN SPEAKS ON PRESENT LEVELS.

EUR/USD(CURRENT LEVEL 1.2451) - YESTERDAY EUR FIND SUPPORT AT 1.2400 REGION. STRONG RESISTANCE IS AT 1.2460/70. NEXT DIRECTION DEPEND ON ZEW INDEX AND GREENSPAN SPEAKS.

USD/CHF(CURRENT LEVEL 1.2280) - STRONG RESISTANCE AT 1.2310/15 CONFIRM THAT BEARS DOMINATE ON MARKET. IF WE BREAK 1.2240 SUPPORT, WE SHOULD SEE FALL USD TO 1.2180 REGION. IF WE BREAK ABOVE 1.2415, THIS COULD BE BUY SIGNAL.

GBP/USD (CURRENT LEVEL 1.8669) - SUPPORT - 1.8630, RESISTANCE - 1.8750/70. RANGE AS GREENSPAN AWAITED.