Forex Commentary 23.07.2004

[profi-forex]

23.07.2004 (02.10)


USD/JPY(CURRENT LEVEL 109.80) - USD CAN NOT BREAK 110.00/20. WE SHOULD PROBABLY SEE FALL TO 108.80/109.20. NEXT DIRECTION DEPEND ON BREAKINGTHROUGH OR HOLDING ABOVE-MENTIONED SUPPORT. SCENARIO: SUPPORT HOLDS AND USD RISE TO 110.40/70 AND EVEN 111.00 OR WE BREAKTHROUGH THIS SUPPORT AND USD FALL TO 107.00/107.50

EUR/USD(CURRENT LEVEL 1.2228) - WE COULD SEE TEST 1.2200 ONE AGAIN BECAUSE OF YESTERDAY`S UNSUCCESFUL BACK UP EUR TO 1.2300/15 REGION. IF WE BREAK THIS SUPPORT WE COULD SEE FALL EUR TO 1.2160/70 AND NEXT TO 1.2100/30 I 1.2040/60. ANOTHER SELL SIGNAL WILL BE WHEN EUR/USD CLOSE TODAY BELOW 1.2280/1.2300.

USD/CHF(CURRENT LEVEL 1.2505) - YESTERDAY SUPPORT AT 1.2415/30 HOLD, THATS WHY IN A FEW DAYS WE COULD SEE TEST 1.2650/1.2700 REGION.

GBP/USD (CURRENT LEVEL 1.8317) - AS WE EXPECT YESTERDAY WE HAVE BOUNCE TO 1.8490. AFTER THIS GBP WEAKEN BY 100 PIPS. THIS COULD SUGGEST FALL TO 1.8250/1.8300 REGION.