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Forex daily market comments: Morning comments


Forex Morning daily comments are updated shortly after the open of London session. Approximate time: 9:00 - 9:30 am EST

Forex market outlook help traders to obtain a new fresh information on the Forex market trends and tendencies, price patterns, support/resistance levels, and thus trade more effectively throughout most busiest Forex trading sessions: London and New York.

Last updated: July 2, 2009, 9:00 am EDT

Currency Comments
EUR-USDback trading below 1.4130 21 hour sma suggests strong selling preference. 1.4100 offering support for now, trading below to 1.40-70-80 at least then 1.4020
AUD-USDfailure to hold trading above 0.8100 and breakout trading below cluster of hourly smas suggests selling preference to 0.8010 200 hour sma, trading below to 0.7980.
GBP-USDtrading below 200 hour sma at 1.6450 forming strengthens strong selling preference. July 1 low at 1.6375 is initial support trading below suggests to 1.6340
USD-CADsideways, requiress to breakout trading above 1,1510 to assert buying preference. Support at 1.1445, which if pushed may target sub-1.13.
NZD-USDDowntrend suggests move to 0.6350 at least. Strong suppport awaits in 0.6250 area, trading below decline could acelerate towards 0.6150.
USD-CHFBounce from 1.0715 support suggests move trading above 1.0800. Initial resistance at 1.0810, trading above to 1.0850.
EUR-GBPwrestling with 0.8600 significant resistance. A breakout has significantly higher implications, to 0.8630 at least.
USD-JPYInitial buying preference towards 97.00 then 97.20-30. 96.60 21 hour sma is near term support a breakout of 96.30 may bring a quick sub-96.00 move.
GBP-JPYtrading below 159.00 suggests selling preference. trading below 158.00 to 157.50 at least then 157.10.
AUD-JPYTesting lower limits of range at 77.50, a breakout trading below suggests potential to 76.80. Significant resistance at 78.30 has large buying implications
EUR-JPYrequiress to breakout trading above 126.80 to forming strengthen buying preference. 137.00-50 is Fibonacci resistance, when combined with daily LT momentum, puts us on alert
CAD-JPYsideways coiling pattern but trading above 84.00 suggests buying potential towards 84.45. trading below 0.8400 may return to 83.60.


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