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FX Levels for Today. August 4, 2009

Tue, Aug 4 2009, 03:08 GMT
by Abdul Khan

Income Generation Strategies


Overview

Stocks continue to lead the global markets, and the USD feels the full brunt of the selling. Baiscally, there isnt a great deal on the horizon that could see the tide turn significantly in the short-term.

EURUSD broke up through that 1.4340 area I mentioned yesterday. This area now becomes good support.

The AUD remains well supported on the back of solid retails sales data earlier today, and positive comments from the RBA following their meeting today.

Please see below for today's trade ideas

For those interested, I will be presenting webinars for FX Street every Friday at 0500GMT. Hope to see/hear you there.

Data for Today

EU: PPI

UK: PMI

US: PCE Deflator

US: Pending Home Sales

Trades for Today

GBP: Sell a break of 1.6900

GBPCHF: Buy a break above 1.8030

Email for details regarding stop-loss and profit targets. You can also now get me on twitter at:

http://twitter.com/forexplus


Archive

Income Generation Strategies  | Level 26, Waterfront Pl. 1 Eagle Street, Brisbane, Qld. 4001
http://www.incomegenerationstrategy.com/ | abdul.khan@tricom.com.au

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