The long expected decision for the USD, i.e., a new lasting trend developing, must wait further. That is astonishing, given the reasonable outlook for a better global economy. Even the only more bold player Euro not only against the Greenback but other curencies as well could not manage it to take major resistance zones so far. That the markets are in a somewhat paralyzed state is being illustrated by yesterday`s rather depid reaction of the Yen by the major event of a half century: the monolith LDP fell with noise in yesterday`s election, toppled definitely by the DPJ.

For today`s market we exepect first a continued sidewards trend in the majors, later on, with some more volatity, new trading aspects could open up, expecially in the USD/JPY, where the market obivously needed some time to digest first yesterday`s political news. There are no market moving economic data scheduled for today.

Intraday Market Outlook for Day Traders

EUR/USD
Trading currently at 1.4280 the pair continues its sideways trend in the early Europen morning, just hovering above its 1.4250 support line. We expect this support line to hold more or less today, giving again room towads the 1.4320 level.

GBP/USD
The Pound kept his selling stance against the Dollar in this European morning, currently trading at 1.6190 near its recent lows again. We do not see much of recovery potential today, not above a maximum of 1.6290, setting in later today.

USD/CHF
On a slow recovery path against the Swiss Franc, the Dollar currently trades at 1.0610, near the highs in the early European trading. More of that recovery can be expected in today`s trading, leading the market to levels around 1.0690.

USD/JPY
While the news of the triumph of the opposition over the old LDP party is still digested, the Dollar against the Yen started to recover in late Asian trading, and continues to do so in this European morning. We expect this being a turning point towards a stronger market, and see a first target of 93.70 being reached today. Currently the market is priced at 93.05.