Technical Research
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Technical Research
Thu, Aug 28 2008, 21:38 GMT
by FastBrokers Research Team
EUR/USD
Low volume day today! Support from the current level of 1.4704 is seen at 1.4630 and resistance is today’s high at the 1.4800 zone. If support is broken we could see 1.4450-1.45 reached. If resistance is cleared then another test at 1.49 could be possible. If 1.49 – 1.5 is broken then there would be no surprise if 1.53 is touched
GBP/USD
Just keeps dropping and dropping! Now that the lower region of 1.82 has been found wouldn’t you think there should be some kind of correction? We see support at 1.82 and if that is cleared then 1.78…wow! If support is established then a short term resistance could be around 1.8550.
USD/CHF
With all this range trading going on a breakout is imminent. As we look to be at the top of a channel the outlook looks bearish from current levels. If there were to be a bull breakout then the 1.13-15 area looks to be the first stopping point. As stated yesterday, bear moves could move back to previous support, now resistance, of 1.0575.
USD/JPY
Still ranging, no change in view.
Published on Thu, Aug 28 2008, 22:15 GMT
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