08/02/2006
My FX Forecasts for WEDNESDAY – February 8th

. ** POUND STERLING/US DOLLAR - MEDIUM TERM VIEW **
JAN.4th,1.7465 - Sterlings recovering well & correction probably extends
toward 1.8200,1.8350 max.before Reversal for a final sell-off to 1.6000.
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*** ** SUPPORTS ** *** *GBP/USD DAILY VIEW* Feb.8th, 1.7445
Support /7450/7435/7400/ Sterling has probably declined enough for
** *** RESISTANCES *** ** now & whilst holding Suport around 1.7435
Resistance /7475/7515/7540/ looking for recovery to mid/late 1.7500's
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. ** ASIAN TRADING UPDATE ** February 8th, 1.7460
Buying Sterling (Stop under 1.7430) for recovery toward the mid 1.7500's
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. ** US DOLLAR/JAPANESE YEN - MEDIUM TERM VIEW **
February 6th,118.80 - Dollar's ready for a sell-off to 116.00/115.50 But
whilst holding Key 113.50,then yield resumption of Uptrend toward 126.00
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*** ** SUPPORTS ** *** *USD/YEN DAILY VIEW* Feb.8th, 117.85
Support /1765/1725/1710/ Dollar's sold-off nicely & resistance now
** *** RESISTANCES *** ** at 118.00/118.15 looking for sell-off to
Resistance /1800/1815/1850/ extend twd low 117.00's,before exhaustion
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. ** ASIAN TRADING UPDATE ** February 8th, 117.80
Dollar likely to extend decline toward the low 117.00s before exhaustion
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. ** EURO/US DOLLAR - MEDIUM TERM VIEW **
JAN.4th,1.2015 - Euro's rallying nicely and corrective recovery probably
extends twd Resistances at 1.2415,1.2590 max.before REVERSAL,for 1.1500.
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*** ** SUPPORTS ** *** *EURO/USD DAILY VIEW* Feb.8th, 1.1980
Support /1970/1955/1940/ The Euro has failed to Reverse but whilst
** RESISTANCES *** ** now holding the mid 1.1900's,looking for
Resistance /2015/2045/2070/ recovery back toward the mid/late 1.2000s
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. ** ASIAN TRADING UPDATE ** February 8th, 1.1985
Ideally Suport about 1.1970 now holds for rally onto 1.2015 then 1.2045.
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. ** US DOLLAR/SWISS FRANC - MEDIUM TERM VIEW **
JAN.4th,1.2905 - Dollar is declining well & corrective sell-off probably
extends toward Supports at 1.2500,1.2250 max.before REVERSAL,for 1.3285+
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*** ** SUPPORTS ** *** *USD/SWISS DAILY VIEW* Feb.8th, 1.2975
Support /2940/2915/2890/ Dollar's sell-off unimpressive But whilst
** *** RESISTANCES *** ** resistance around 1.3000 contains looking
Resistance /2985/3000/3025/ for another sell-off toward late 1.2800's
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. ** ASIAN TRADING UPDATE ** February 8th, 1.2960
Resistance now at 1.2985/1.3000 for sell-off toward 1.2920 & then 1.2890
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. ** AUSTRALIAN DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
JAN.4th,.7395 - Ozzy recovering well & probably extends onto resistances
at .7700,.7765/7810 max.before Reversal for a final sell-off toward 6800
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*** ** SUPPORTS ** *** *AUD/USD DAILY VIEW* Feb.8th, .7395
Support /7370/7340/7300/ Ozzys sell-off probably near exhaustion &
** *** RESISTANCES *** ** whilst holding Support around 7370 yields
Resistance /7420/7435/7450/ imminent Reversal,for rally back twd 7500
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. ** ASIAN TRADING UPDATE ** February 8th, .7395
Whilst this sell-off holds support around .7370,yields Reversal for 7500
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. ** NEW ZEALAND DOLLAR/US DOLLAR - MEDIUM TERM VIEW **
JAN.4th,.6840 - Kiwi's recovering well & correction probably extends twd
Resistance at 7000,.7100 *max* before REVERSAL for sell-off toward .6150
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*** ** SUPPORTS ** *** *NZD/USD DAILY VIEW* Feb.8th, .6780
Support /6775/6760/6700/ Kiwi remains within its complex corective
** *** RESISTANCES *** ** consolidation & Until Key 6760 Support is
Resistance /6825/6845/6885/ broken,yields recovery back toward .6900.
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. ** ASIAN TRADING UPDATE ** February 8th, .6775
Only Selling a Break of .6760 (with 15pt Stop) for decline toward .6700.
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any advice, opinion, information or omission whether negligent or
otherwise, contained in this report.