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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: March 9, 2010, 9:00 am EST

Currency Comments
EUR-USDdip trading below 1.3600 rebound trend line keeps focus lower, trading below 1.3545-50 may see 1.3520-25 later, the lower to 1.3470-80
AUD-USDforming an hourly down-channel now that ranges between 0.9110-0.9050, dip trading below should open potential to the 200hr sma by 0.9010
GBP-USDstrong preference lower while trading below 1.5000-10, trading above may see retracement to 1.5070-75, trading below 1.4930-40 may see 1.4890-00 later
USD-CADrebound has been rejected thus far ahead of the 1.0330 resistance area, strong short-term support now lurks by 1.0280
NZD-USDappears like a descending wedge in place here on the hourly charts, breakout trading above 0.6990 should exhaust the selling pressure here
USD-CHFbuying potential remains while trading above 1.0765-70, trading below may see down to 1.0725-30, trading above 1.0800 may see gains extend to 1.0830-35
EUR-GBPpreference higher while trading above 0.9055 21hr sma, but requiress trading above 0.9070 for a higher, trading below 0.9055 may see to 0.9015 ahead of channel base at 0.8970
USD-JPYpossibly building strength trading above 100-hour sma at 89.60-65, trading below may see to 89.40-45 later, trading above 90.10-15 may see pullback up to 90.45-50 at least
GBP-JPYselling preference while trading below 21 hr sma and Tenkan line at 135.60-70, trading below 200 hr sma at 134.70 may see lower towards 134.40 later.
AUD-JPYselling remains the focus while trading below the 82.00 area, strong short-term support now lurks at the 100hr sma near 81.10
EUR-JPYretracement to pre-NFP levels, possibly basing on 200-hour sma at 121.50-55, trading below may see 121.10, trading above 122.50 shifts focus higher
CAD-JPYanother yen cross in rollover mode, finding solid short-term support at the 100hr sma near 86.95, trading below could see spill to 86.25 later


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.