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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 30, 2010, 9:00 am EDT

Currency Comments
EUR-USDpreference lower while trading below 1.3060 21hr SMA, trading above could see to 1.3090, trading below 1.2980 could see test of 200hr sma around 1.2940-50.
AUD-USDpreference higher while trading above 0.8965 hourly support towards 0.9025 at least and 0.9050 later, trading below may see 0.8930 and 0.8890 later.
GBP-USDpreference lower while trading below 1.5610-15 21-55hr SMAs, trading above calls for to 1.5660, trading below 1.5550 could see lower towards 1.5520.
USD-CADpreference higher trading above 1.0330-35 sma cluster towards 1.0400 at least and 1.0445 later, trading below may see 1.0295 ahead of 1.0250.
NZD-USDmay have based trading above 0.7190 towards 0.7250 55 hr sma ahead of 0.7280 100 hr sma, trading below may see 0.7160 at least ahead of 0.7130.
USD-CHFsigns of a base forming aboive 1.0370-80 but requiress trading above 21hr sma at 1.0400-05 to switch focus higher towards 1.0450-60 later.
EUR-GBPpreference lower while trading below 21hr sma at 0.8365 towards 0.8325 at least, trading below may see to 0.8305-10. trading above 0.8365 may see 0.8395-00.
USD-JPYpossibly basing trading above 86.15, requiress trading above 86.55 to shift preference higher towards 86.95-00 & maybe even 87.20, trading below 86.15-20 could see 85.55.
GBP-JPYmay be drawing a base trading above 134.50 but requires trading above 21 hr sma at 135.45 to switch focus higher towards 135.80 later.
AUD-JPYpreference lower while trading below 21 hr sma at 78.00 towards 77.20 at least, trading below may see towards 76.90 later.
EUR-JPYpreference lower while trading below 200hr sma at 112.75 towards 112.00 initialy, trading below may see towards 111.60 later, trading above 113.00 may see 113.45.
CAD-JPYmay be drawing a base trading above 83.20 but requiress trading above 21 hr sma at 83.75 to switch focus higher towards 84.00. trading below 83.20 may see 82.80.


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.