12.10.2006
EUR-USD â
New low yesterday at 1,2501 after FOMC , strong bounce back today but at this moment still favor short positionsâ¦
Selling area 1,2575-90 and above 1,2610, sl above 1,2640-50 for 1,2460-80,
Important US Trade Balance todayâ¦.
Currently short from 1,2545â¦
GBP-USD â
Pair now trying to back above 1,8600-15, next resistance near 1,8635-60 also looks good for shortâ¦
Short from 1,8524 was stopped outâ¦
Holding short from 1,8565, will add near 1,8645 sl above 1,8685
USD-JPY-
As I wrote yestrday, correction possibleâ¦but still favor long positions⦠level to buy 119,25-30 or 118,60-85â¦
USD-CAD-
As I wrote yesterday, bullish for 1,14 while above 1,1320, max today 1,1384, if Youâre long try to take profit here at 1,1360 or put sl on entry levelâ¦
Fundamental:
The Canadian dollar was down
versus the greenback on Wednesday as another slide in commodity
prices weighed on the currency, which could drift further given
the lack of any key domestic data.
With no key Canadian data due out during the session to
impact the currency, traders seemed content to focus on weaker
commodities, particularly oil and gold, which often move in
line with the Canadian dollar.
The commodity story has been hurting the Canadian dollar
for a while now. What's kept it as high before that is the huge
amount of M&A activity," said Bart Melek, senior economist, at
BMO Capital Markets.
"But I think that's kind of getting washed out of the
market and a lot of the strong commodity-based fundamentals are
weakening."
USD-CHF â look to buy on dips 1,2630-50 for 1,2780-2800
AUD-USD â
Good demand noted this morning for topside Aussie calls after
strong employment data overnight. Traders note stops at $0.7485 and
$0.7495.
200 DMA at 0,7478, now we are above this levelâ¦
Bearish below 0,7440-50, bullish above 0,7500, still watching
NZD-CHF-
Current 0,8362 ⦠testing 50% fall from 0,9448 to 0,7375â¦
200 DMA below 0,81, also good support at 0,8100 ( trendline ), watchingâ¦
USD-CZK-
Very interesting situation, long term downtrend-line on daily chart is underpressure, daily close above could be very bullish, on the other hand consolidation 21,7000-22,6000 also possibleâ¦
USD-DKK-
Consolidation 5,7500-5,9500, supoort 5,85 then 5,80, also range âbreak to the upside possibleâ¦
USD-HRK â
Look to buy again on dip 5,85-5,86 for minimum 5,94-95â¦and for 6 and above later..
USD-HUF-
HUF is a stronger than we expected at this moment range-break to the downside possible, watch support near 212,00, speculative traders can to take long here ( 212,50 ) with tight sl below 212 for move minimum 216, daily close below 212, we will have bigger chances for back to 208â¦
USD-MXN â
Watch support 10,9200-9500, resistance 11,1000, bigger chances at this moment for bears
USD-PLN -
If You are still long, You can take some profits here 3,1215-25 for rest put sl on entry level tp 3,14, look to buy on dips againâ¦or on break to the upside
More details about other currency than majors after weekend
GOOD LUCK and GOOD TRADE
Piotr
