Forex Commentary 26.07.2004

[profi-forex]

26.07.2004 (02.40 US TIME)


USD/JPY(CURRENT LEVEL 109.68) - ON FRIDAY USD DIDN`T BREAK STRONG RESISTANE AT 110.30. NOW WE HAVE CORRECTION. THE NEAREST SUPPORT - 109.40 AND NEXT 108.70/80. WHEN WE BREAK THIS WE COULD SEE FALL TO 107.50.

EUR/USD(CURRENT LEVEL 1.2125) - ON FRIDAY COURSE EUR/USD WAS EVEN BELOW 1.2100. NOW TRADERS TAKE PROFIT THATS WHY COURSE COULD OUNCE TO 1.2160 AND EVEN TO 1.2210. BREAKINGTHROUGH THIS SUPPORT SHOULD OPEN THE WAY TO 1.1950 AND EVEN TO 1.1800.

USD/CHF(CURRENT LEVEL 1.2631) - AS WE EXPECT USD/CHF TESTED 1.2700 REGION. NOW 1.2540/50 REGIONIS IMPORTANT SUPPORT AND BREAKINGTHROUGH WILL OPEN THE WAY TO RISE TO 1.2850.

GBP/USD (CURRENT LEVEL 1.8362) - AT FRIDAY WE TESTED 1.8300 REGION. NEXT DIRECTION DEPEND ON BREAKINGTHROUGH OR HOLDING ABOVE-MENTIONED REGION. RESISTANCE 1.8430/35.