DAILY MARKET REPORT
10.11.2008
EUR/USD
Extending non-trending mode since the recovery from 1.2329, 28 October low, which stalled at 1.3300, 30 October, approx 38.2% of 1.4867/1.2329 down leg. Further recoveries now hinge on 1.2527 swing low, 04 November, while regaining last Wednesday's 1.3117 lower high suggests bullish resolve to hint extension at 1.3600, approximately 50% retrace.
Res: 1.2898, 1.2935, 1.2957, 1.2977
Sup: 1.2772, 1.2716, 1.2653, 1.2527 
USD/JPY
Firms off last Friday's decline at 96.75, approximately 38.2% of 90.87/100.56 up leg, while a potential flat consolidation unfolds off 96.08/35, 29/31 October lows. Immediate upside is set at 99.93 high, 05 November, with break refocusing 100.56/57 and 100.77, 50% of 110.67/90.87 down leg. Hourly pullback seeks a higher low over 96.75.
Res: 99.46, 99.93, 100.57, 100.77
Sup: 98.20, 97.68, 97.49, 96.90
GBP/USD
A couple of bear trend lines extending from 1.7518/1.6675, 20/30 October lower tops, now at 1.5844/1.5937 may stymie gains off last Friday's 1.5535 swing low. Hourly RSI negative reversal which arose from last Thursday/Friday's sessions, can only be negated by trading above 1.5990. Until then, projected losses at 1.5395 zone will remain feasible. Above 1.6200/40 will improve s-term outlook.
Res: 1.5815, 1.5885, 1.5956, 1.6000
Sup: 1.5642, 1.5595, 1.5570, 1.5535
USD/CHF
Maintains bullish pressure to probe 1.1803 rally high, 04 November, while rising lows off 1.1200, 30 October, beckon to extend current advance within a bull channel from 1.0690, 22 September. Break there would firm 1.1895/1.1924, 09 October/ 14 September highs, approx 61.8% of 1.3286/.9630 fall. Negative divergent daily studies however caution exhaustive risk. Below 1.1475 to weaken
Res: 1.1803, 1.1834, 1.1859, 1.1890
Sup: 1.1682, 1.1628, 1.1569, 1.1550
