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This week forex market expected trend
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Week 02 − 06 Jul 2007
Mon, Jul 2 2007, 03:06 GMT
by Dr.S.Sivaraman
www.i-knowindices.com
Professional trader training- strategist trading techniques and forex market forecast - www.i-knowindices.com commodity and stock market forecast visit www.ipredictindices.comThis Week 02 - 06 Jul 2007. Other majors are expected to under go downward trending move from now for a prolonged phase. Quick upward stop hunts moves are sell oppertunities. operators are expected to swing and drop other majors in a big way in coming days. watch and understand - market means swings. Do not get trapped with bullish or bearish feel in any pair at lower/higher levels - You can do directional swing trades of sell and buy in other majors.
EURO/USD: EURO will be very firm initially around 1.3540 level due to very less USD demand, towards mid-week it is expected to become firm to the level of 1.3345 and by week end is expected to become moderate to the level 1.3173. Wide-range swings are expected with high intra-day volatility Good time to do directional swing trades. sell during rise and cover during correction.
Support and Resistant Levels -Resistance at 1.3542 / 1.3561 / 1.3578 support at 1.3345 / 1.3173 / 1.3087 levels .
GBP/USD: GBP will be very firm around 2.0085 level due to less USD demand, towards mid-week it is expected to become firm to the level of 1.9745 and by week end is expected to become moderate to the level of 1.9536. Wide-range swings and high intra-day volatility will be witnessed. Good time to do diectional swing trades. Sell during rise and buy during corection. .
Support and Resistant Levels - Resistance at 2.0089 / 2.0098 / 2.0127 support at 1.9745 / 1.9536 / 1.9432 levels.
USD/JPY: USD/JPY will be weak initially to the level of 123.14 due to less USD demand, towards mid-week it is expected to become very weak to the level of 122.45 and by week end it is expected to become firm to the level of 124.93. Wide range swings expected with very high intra-day volatility. Good time to take long during correction and cover during rise.
Support and Resistant Levels -Resistance at 123.87 / 124.34 / 124.93 support at 122.45 / 122.07 / 121.78 levels.
USD/CAD: USD/CAD will be very weak initially to the level of 1.0650 due to very less USD demand, towards mid-week USD/CAD with swings will become weak to the level of 1.0845 and by week end will become moderate to the level of 1.1045 are expected.
Support and Resistant Levels - Resistance at 1.0845 / 1.0967 / 1.1045 support at 1.0648 / 1.0633 / 1.0617 levels.
Understanding the operators intention alone can make us to win in this game of forex trading....... the forecast gives the signals much in advance for you to understand the operators intention....
Published on Mon, Jul 2 2007, 03:09 GMT
Archive
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