Daily Market Comments: 07/20/2010

[za3eem]

EUR-USD
It should be subject to more sell off towards 1.2878 or 1.2814. Corrective upward swings should face resistance around 1.2963 area. A break of 1.3056 is bullish.

USD-CHF
Current rise seems to be over near 1.0555 or 1.0591 for a retracement towards 1.0520 - 1.0501 area.

GBP-USD
Current fall is near an end of wave around 1.5171 zone, a rally should then procede to above 1.5319. Fall below 1.5113 would cancel this scenario.

USD-JPY
Market should not go lower than 86.59 - 86.38. After this move down it should go up to 86.96 - 87.11 area.

USD-CAD
One move lower to 1.0505 or 1.0461 is anticipated while below 1.0566 - 1.0588 area. Stop loss above 1.0626 zone.

NZD-USD
It may meet resistance in 0.7060 - 0.7068 zone for a drift down to 0.7021 zone, after which bounce to 0.7106 is anticipated.

AUD-USD
It should try higher up to 0.8702 - 0.8725. Entry point 0.8679 or 0.8659. After this rise, a correction is expected.

EUR-JPY
It is likely to fall towards 111.41 - 110.61 unless a corrective rally breaks the 112.63 resistance. Stop above 113.03 zone.

EUR-CHF
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.3684 or 1.3716 if support around 1.3612 hold. After which a pullback to 1.3612 - 1.3582 zone is possible.

EUR-GBP
While below 0.8515 - 0.8545 it is more likely to fall further towards 0.8462 or 0.8438. Premature rise above 0.8545 could see it rising above 0.8592 zone.

EUR-CAD
One move lower to 1.3591 or 1.3530 is anticipated while below 1.3672 - 1.3702 area. Stop loss above 1.3753 zone.

EUR-NZD
One move lower to 1.8185 or 1.8040 is anticipated while below 1.8387 - 1.8459 area. Stop loss above 1.8588 zone.

EUR-AUD
One move lower to 1.4824 or 1.4745 is anticipated while below 1.4938 - 1.4977 area. Stop loss above 1.5052 zone.

GBP-CHF
It should test 1.6112 area after which a sell off down to 1.6004 or extended to 1.5887 area is expected.

GBP-JPY
It may meet resistance in 132.42 - 132.73 zone for a drift down to below 131.40 zone.

GBP-CAD
It looks more likely that it would rise to 1.6160 - 1.6255 from 1.6047 or 1.5999. After which a downside move is expected.

GBP-AUD
It looks more likely that it would rise to 1.7678 - 1.7821 from 1.7504 or 1.7432. After which a downside move is expected.

CAD-JPY
One more dip to 81.97 - 81.63 is likely followed by a grind higher to 82.86.

NZD-JPY
It may meet resistance in 61.20 - 61.32 zone for a drift down to 60.79 zone, after which bounce to 61.73 is anticipated.

AUD-JPY
It should try higher up to 75.57 - 75.86. Entry point 75.28 or 74.99. After this rise, a correction is expected.

XAG-USD
It may meet resistance in 17.59 - 17.67 zone for a drift down to 17.42 zone, after which bounce to 17.85 is anticipated.

XAU-USD
It may meet resistance in 1185.25 - 1189.01 zone for a drift down to below 1175.45 zone

[محمد ابوالعز]

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