Foreing Exchange
Mon, Nov 10 2008, 13:42 GMT
by Per-Erik Karlsson
Euro
Rising trend line at 1.2687 should act as support and higher lows is indicating for a test of the falling resistance at 1.3025 near term. Have the 21 day exponential moving average at 1.3043 that has proved strong resistance on several occasions over the last few weeks, so keep an eye on it.
Support: 1.2687 (rising support), 1.2652 (Friday’s low), 1.2323 (January 2006 high)
Resistance: 1.3025 (falling resistance), 1.3043(21 day EMA), 1.3295 (30 Oct high)
240 min – Rising support at 1.2687 and falling resistance at 1.3025 that are the key levels for now.
Cable
Need to get above 1.6036 resistance to open for a test of the falling resistance at 1.6514. Have interim rising support down at 1.5553 for today. So basically weak below 1.6030 level.
Support: 1.5553 (rising support), 1.50 (psychological support level)
Resistance: 1.6036 (Thursday’s high), 1.6514 (falling res)
120 min – key levels are 1.5879 falling resistance and 1.5579 rising support.
USDCHF
Key resistance remains 1.1814 (Jun 2007 low), with more resistance at the overhead resistance at 1.1844. Remains bullish above the rising support at 1.1326 for now.
Support: 1.1326 (rising support)
Resistance: 1.1814 (Jun 07 Low), 1.1844 (overhead res)
USDJPY
The key falling resistance is coming in at 101.22 today that needs to be taken out to open for a test of the 102.40 level. The rising support from the October low coming in at 97.37 today should act as support.
Support: 97.37 (rising support), 95.71 (March low), 90.88 (Friday low)
Resistance: 101.22 (falling res)
EURJPY
Have overhead resistance at 130.69 that is the key level to break to open for a stronger rally higher. Friday’s low of 122.44 should act as strong support for now.
Support: 122.40 (Friday’s low), 102.72 (rising support)
Resistance: 130.69 (overhead res)
USDCAD
The former overhead resistance (now support) coming in at 1.1304 today is the key support level now and while below the 1.20 level the target is for a test of the 61,8% Fibonacci retracement of the 1.0290 to 1.30 move coming in at 1.1366.
Support: 1.1366 (61,80% Fibonacci retracement of 1.0290 to 1.30 move), 1.1304 (former overhead res)
Resistance: 1.2022 (Friday’s high), 1.3007 (March 2006 low)
EURGBP
The overhead resistance is coming in at 0.8230 today and is the key level to watch today. Key support remains the 0.7800 level.
Support: 0.7800 (lower end of range)
Resistance: 0.8230 (overhead resistance)
