Daily Market Comments

[smsm]

Monday March 12, 2007


EUR-USD
1.3114. It is likely to attempt to below 1.3048 while below 1.3114 - 1.312 area. Rise above 1.3153 would dampen this bearish expectation.
USD-CHF
1.2342. A correction down to 1.2281 folowed buy a mouve up to 1.2349 or 1.238. A break above 1.2417 would accelerate this bullish move.
USD-JPY
118.25. A correction down to 117.43 folowed buy a mouve up to 118.32 or 118.73. A break above 119.20 would accelerate this bullish move.
GBP-USD
1.9326. It should be subject to more sell off towards 1.9283 or 1.9239. Corrective upward swings should face resistance around 1.9370 area. A break of 1.9369 is bullish.
EUR-CHF
1.6187. Current rise should end around 1.6166 or 1.6215. Objectives of this downmove are 1.6138 or 1.6089. A rise above 1.6243 is again bullish.
EUR-JPY
155.07. Currently uptrend should end around 156.14 - 155.56 area. A correction down to below 154.19 is expected. A rise above 156.06 will abort the expected correction.
EUR-GBP
0.6786. Market should meet resistance at 0.6795. We expect then an extended move down to 0.6775 -0.6760 area.
AUD-USD
0.7802. Currently uptrend should end around 0.7821 - 0.7821 area. A correction down to below 0.7775 is expected. A rise above 0.7841 will abort the expected correction.
USD-CAD
1.1723. Market should meet resistance at 1.1746. We expect then an extended move down to 1.1697 -1.1653 area.