日本語
Español
中文
- New York 17:09
- London 22:09
- Barcelona 23:09
- Tokyo 07:09
- Sydney 09:09
Daily Market Commentary
This report has been deactivated
0
0
The dollar edged higher on Friday in quiet trading
Mon, Jul 21 2008, 06:13 GMT
by Cornelius Luca
The dollar edged higher on Friday in quiet trading. We need to see if there will be another recovery in the equity indices and a decline in the oil price. The medium-term outlook remains negative, but the dollar should attempt another upmove today.
Euro/dollar
Euro/dollar consolidated on Friday but this my model went short. The short-term outlook is slightly bearish, but the medium-term outlook remains bullish. Immediate resistance is still at 1.5890. The next levels are 1.5910 and 1.5970. A pivot high now follows at 1.6036. Above 1.6055, distant resistance is at 1.6135. Below 1.5830, support is remains at 1.5765. The next good level remains at 1.5685. Distant support is 1.5630.
Oscillators are mixed.
NEAR-TERM: Slightly bearish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen struggled higher on Friday, but failed to test the declining trendline. The short-term outlook is cautiously positive. Immediate resistance is at 107.10 from this line. Further resistance still comes at 107.95 from a 50-point pivot, which targets 107.45 and 108.45. . Initial support is at 106.75 from a 50-point pivot, which targets 106.25 and 107.25. Below 105.85, support is at 105.60 from a 50-point pivot that targets 105.10 and 106.10.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Mixed
LONG-TERM: Mixed
Sterling/dollar
Sterling/dollar is alternating up and down days, so rallied Monday should be an up day! My model remains long. The medium-term outlook remains positive. Initial resistance now comes at 2.0040. This is followed by 2.0085. A pivot high follows 2.0155. Distant resistance is at 2.0250. Immediate support is seen at 1.9935. Below 1.9905, support is now seen at 1.9850.
Oscillators are mixed.
NEAR-TERM: Slightly bearish
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
Dollar/Swiss franc
Dollar/Swiss consolidated in an inside range on Friday. My model went long, and the risk is on the upside today. Immediate resistance is at 1.0245. Above it, resistance now comes at 1.0315. This is followed by 1.0390. Initial support remains at 1.0175. This is followed by 1.0135. Below 1.0095, support is now seen at 1.0013 and .9984.
Oscillators are mixed.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Slightly bearish
LONG-TERM: Mixed
Published on Mon, Jul 21 2008, 06:15 GMT
Archive
- US Dollar: FOMC Over, Now What?
Published On Thu, Jan 29 2009, 02:42 GMT - New Zealand Cuts Interest Rates by 150bp to 3.5%
Published On Thu, Jan 29 2009, 02:40 GMT - FOMC Instant Insight: Fed Announcement Triggers Dollar Rally
Published On Wed, Jan 28 2009, 23:20 GMT - Currencies Rally on Obama's Plan to Save Banks
Published On Wed, Jan 28 2009, 23:17 GMT - US Dollar: Acts of Desperation?
Published On Wed, Jan 28 2009, 02:56 GMT
Global Forex Trading Ltd
| 4760 East Fulton Road, Suite 201, Ada, Michigan, U.S.A
http://www.gftforex.com/ | info@gftforex.com
Legal disclaimer and risk disclosure
This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the author are not necessarily those of Global Forex Trading, its owners, officers, agents or employees. In addition, any projections or views of the market provided by the author may not prove to be accurate. Global Forex Trading and Cornelius Luca will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. Global Forex Trading and Cornelius Luca do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.