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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: November 20, 2008, 9:00 am EST

Currency Comments
EUR-USD1348GMT continues to consolidate trading above 1.2480 hourly trendline support, trading below calls for breakout to 1.2420 later, good buying barrier near 1.2570
AUD-USD2223GMT focus lower after breakouting trendline support near 0.6430-40, should find support into 0.6350 at least, calls for to 0.6300 later
GBP-USD1352GMT selling focus while trading below 1.4900, breakout trading below 1.4820-10 trendline support calls for try for 1.4740 potentially, expect forming strength trading above 1.4980
USD-CAD2226GMT push higher continues with buying in place while trading above 1.2500, more forming strength trading above 1.2560 later, focus lower if trading below 1.2440
NZD-USD2228GMT sharp move lower finding a base near 0.5400, trading below calls for decline extend towards 0.5350 later, focus higher if back trading above 0.5460-70
USD-CHF2310GMT strong buying preference remains while trading above 1.2120, requires trading below 1.2060-70 to signal possible reversal, new gains potentially over 1.2150
EUR-GBP2319GMT retracement lower has fallen trading below hourly trendline support, now resistance at 0.8365-70, only trading above 0.8410-15 signals renewed buying
USD-JPY1355GMT move lower calls for critical support at 95.00 hourly trendline, trading below calls for a base near 94.50 and 94.00 later, plan for gains trading above 96.00-20
GBP-JPY2325GMT dip trading below hourly trendline support, now resistance at 144.00, keeps focus lower, trading below 142.50 may see declines to 140.00-50 area
AUD-JPY2231GMT broke trendline support near 62.20, sharp retracement found support near 60.90 and holding there, trading below calls for decline extend to 60.20 at least
EUR-JPY2314GMT decline calls for to main trendline support at 119.10-20 and bounces, preference lower while trading below 120.30, trading below 119.00 may see test of recent lows
CAD-JPY2234GMT focus lower while trading below 77.00, finding support by 76.00 now, trading below calls for forming weakness into 75.20 at least, expect forming strength trading above 77.90


Disclaimer: Forex currency trading is a high risk investment. Use market comments at your own judgment and risk assuming full own responsibility for any direct or indirect trading cases that occur as a result of using current Forex market comments.