Mon, Jan 26 2009, 07:33 GMT
by Slobodan Drvenica
EURUSD
Continues to trend lower off 1.4362, 29 Dec lower high, while attempting to create a base off 1.2716, 08 Dec low. Regain of 1.3085/1.3110 is needed to firm the tone.
Res: 1.3035, 1.3085, 1.3100, 1.3174
Sup: 1.2825, 1.2764, 1.2716, 1.2627
GBPUSD
Firm negative tone persists while holding below 1.4030, as a potential 5-wave decline is suspected off 1.5374. Risk is now seen for break below 1.3500 to open0 1.3250/00 next.
Res: 1.3817, 1.3848, 1.3898, 1.3940
Sup: 1.3549, 1.3500, 1.3475, 1.3380

USDJPY
Last Friday’s rejection at 89.62 delays recovery via a potential expanded flat consolidation. Risk is now seen for break below 87.97 to focus 87.10, 21 Jan low, retest. Upside, 89.62 caps for now.
Res: 89.62, 90.17, 90.58, 90.98
Sup: 87.97, 87.57, 87.10, 86.87

USDCHF
Reversed sharply off last Friday’s 1.1714 high to hint possible exhaustive bulls towards 1.1870/07 region. Lapse below 1.1507 would signal stronger correction.
Res: 1.1717, 1.1747, 1.1790, 1.1807
Sup: 1.1507, 1.1496, 1.1445, 1.1370 
Published on Mon, Jan 26 2009, 07:36 GMT
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