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- 16-08-2010, 12:58 AM #1
Daily Market Comments - Monday 16 August 2010
EUR-USD There is bearish potential for a fall to 1.2753 - 1.2702 while 1.2804 - 1.2829 resist. After this fall a recovery up to 1.2829 or 1.2855 is expected. USD-CHF It should test 1.0540 area after which a sell off down to 1.0488 or extended to 1.0452 area is expected. GBP-USD No comment! USD-JPY Currently uptrend should end around 86.55 - 86.59 area. A correction down to below 85.78 is expected. A rise above 86.88 will abort the expected correction. USD-CAD Market should hold major support at 1.0336 before rising towards 1.0452 or even 1.0489 limit. NZD-USD While below 0.7118 - 0.7140 it might drop to 0.7010 or 0.6966. AUD-USD It is a triangle configuration. Market should break either side. Acceleration should occur above 0.9035 or under 0.8926 limits. EUR-JPY It is a triangle configuration. Market should break either side. Acceleration should occur above 111.12 or under 109.55 limits. EUR-CHF Support at 1.3421 or 1.3381 should hold the downside for a correction to above 1.3500 zone. EUR-GBP There is bearish potential for a fall to 0.8177 - 0.8150 while 0.8204 - 0.8219 resist. After this fall a recovery up to 0.8219 or 0.8234 is expected. EUR-CAD One more dip to 1.3255 - 1.3204 is likely followed by a grind higher to 1.3345 - 1.3384. After which it can resume its downtrend. EUR-NZD It looks set for gains to 1.8152. Supports at 1.8017 and 1.7980. A break of 1.7881 will damage this bullish structure. EUR-AUD Market should hold major support at 1.4204 before rising towards 1.4335 or even 1.4383 limit. GBP-CHF One more dip to 1.6375 - 1.6340 is likely followed by a grind higher to 1.6444 - 1.6479. After which it can resume its downtrend. GBP-JPY Current rise seems to be over near 134.69 or 135.13 for a retracement towards 134.25 - 133.96 area. GBP-CAD It should try higher up to 1.6256 - 1.6291. Entry point 1.6221 or 1.6195. After this rise, a correction is expected. GBP-AUD It may attempt a test higher to 1.7471 - 1.7531 after which weakness may set it to a drift down to below 1.7347 limit. CAD-JPY While below 83.04 - 83.36 it is more likely to fall further towards 82.47 or 82.22. Premature rise above 83.36 could see it rising above 83.86 zone. NZD-JPY It looks more likely that it would rise to 61.59 - 62.31 from 60.76 or 60.39. After which a downside move is expected. AUD-JPY Resistances lie around 77.42 and 77.67. It should test lower towards 76.52 zone. A clear break of 76.59 would be bearish. XAG-USD Current upmove should be ended around 18.15 - 18.21. Any correction consolidation should find support in 18.05 - 18.00 zone. XAU-USD One move lower to 1211.32 or 1207.68 is anticipated while below 1216.35 - 1218.17 area. Stop loss above 1221.38 zone.
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