Daily Market Comments - Thursday 12 August 2010

[za3eem]

EUR-USD Market should not go lower than 1.2737. After this move down it should go up to 1.3079 area. USD-CHF Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0625 or 1.0643 if support around 1.0560 hold. After which a pullback to 1.0560 - 1.0538 zone is possible. GBP-USD Market should not go lower than 1.5643 - 1.5564. After this move down it should go up to 1.5770 - 1.5817 area. USD-JPY It should try higher up to 85.39 - 85.61. Entry point 85.17 or 85.02. After this rise, a correction is expected. USD-CAD Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0545 or 1.0524 if support around 1.0414 hold. After which a pullback to 1.0414 - 1.0384 zone is possible. NZD-USD Market should not go lower than 0.7083. After this move down it should go up to 0.7211 area. AUD-USD Market should not go lower than 0.8897. After this move down it should go up to 0.9085 area. EUR-JPY Market should not go lower than 108.05. After this move down it should go up to 111.69 area. EUR-CHF Market should pop up towards 1.3729 or 1.3774 this bullish scenario would be damaged if 1.3616 - 1.3547 zone is broken, a severe break down could then occur. EUR-GBP Market should not go lower than 0.8214 - 0.8178. After this move down it should go up to 0.8268 - 0.8286 area. EUR-CAD Market should not go lower than 1.3458 - 1.3413. After this move down it should go up to 1.3526 - 1.3549 area. EUR-NZD No comment! EUR-AUD Market should not go lower than 1.4318 - 1.4268. After this move down it should go up to 1.4405 - 1.4441 area. GBP-CHF It may attempt a test higher to 1.6640 - 1.6694 after which weakness may set it to a drift down to 1.6491 limit. GBP-JPY One more dip to 133.20 - 132.42 is likely followed by a grind higher to 134.56 - 135.14. After which it can resume its downtrend. GBP-CAD It looks set for gains to 1.6445. Supports at 1.6319 and 1.6289. A break of 1.6193 will damage this bullish structure. GBP-AUD Current upmove should be ended around 1.7483 - 1.7530. Any correction consolidation should find support in 1.7400 - 1.7363 zone. CAD-JPY One more dip to 81.33 - 80.81 is likely followed by a grind higher to 82.22 - 82.59. After which it can resume its downtrend. NZD-JPY It may meet resistance in 61.20 - 61.43 zone for a drift down to below 60.51 zone. AUD-JPY Market should not go lower than 75.48. After this move down it should go up to 77.61 area. XAG-USD Market should not go lower than 17.86 - 17.68. After this move down it should go up to 18.15 - 18.25 area. XAU-USD No comment!

[jambasha]

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