FOREX-DD : Forex Daily Analysis

Daily Forex Outlook: USD/JPY - By Karoll Financial House

2008-06-06T07:11:00.000-07:00

Daily Forex Outlook: USD/JPY

The chart shows the movement started from 106.42. Nevertheless of the current sell-off of the dollar across the board, this movement looks like a flat correction which means that one move high above 106.42 is likely. However I do not want to enter long position at the moment because the movement started from 106.42 could turn out to be a complex corrective combination. With an eye on this I prefer to be neutral at the moment.

Trading strategy: 09:53 EST; 14:53 GMT

Stand aside

Trading strategy: 09:43 EST; 14:43 GMT

Short position from 105.85

Exit the short position at marlet (105.73) with profit 12 pips

Stand aside

Trading strategy: 08:58 EST; 13:58 GMT

Long position from 104.31 and the additions to it from 104.89 and from 105.33 were closed at 105.50 with total profit 197 pips

Sell at market (105.85), stop loss - 106.38 (stop and reverse), target - open

Karoll Financial House

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts. This report will be updated every Monday, Wednesday and Friday on the next schedule:

Daily EUR/USD Elliott Wave Outlook - Monday
Daily GBP/USD Elliott Wave Outlook - Wednesday
Daily USD/JPY Elliott Wave Outlook - Friday

For more information and subscription to the full daily and weekly Elliott Wave analysis on Majors go to Karoll.net or mail to Dimo Dimov

Dollar High Likely In Place - By DailyFX

2008-06-06T06:53:00.002-07:00

Dollar High Likely In Place

A significant USD top is in place. The EURUSD is expected to exceed 1.5817 in the next few weeks and the GBPUSD is expected to exceed 1.9850 and probably test 2.02 by mid-July. Regarding the USDJPY (which we have admittedly been wrong on for some time now), we are just as frustrated as many of you probably are... on the bright side, this is often the individual psychology that attends significant turns.

EUR/USD

The EURUSD has finally turned as we had been expecting for the last week. 1.5364 is viewed as a significant bottom and price is expected to exceed 1.5817 in the next few weeks. Regarding the bigger picture, it is possible that a push through 1.5817 will complete the second leg of a flat or the third leg of a triangle within a larger correction from 1.6018. The other possibility is that the EURUSD goes on to new highs before forming a significant multi year top. Either way, we are bullish against 1.5364.

STRATEGY: Bullish, against 1.5364, target above 1.5817

USD/JPY

There is no change to the USDJPY analysis (which we have admittedly been wrong on for some time now). We have tried catching this turn 3 times and each time the market has told us that we are wrong. Potential resistance extends to the 2/28 high; at 106.63. This is also a major congestion area. Ideally, a top forms before 107.20 (failure to do so would require us to reassess the longer term pattern).

Note: we are just as frustrated as many of you probably are... on the bright side, this is often the individual psychology that attends significant turns

GBP/USD

The GBPUSD story is the same as the EURUSD story. After breaking to multi-day lows, the larger bullish trend has resumed as expected. As long as 1.9461 is intact, the GBPUSD is expected to exceed 1.9850 and reach resistance from daily highs just shy of 2.0250. Risk on longs can be moved to 1.9461

STRATEGY: Bullish, against 1.9461, target above 1.9850

USD/CHF

Same story with the USDCHF as well (but as the inverse of the EURUSD and GBPUSD). "There is little doubt that the advance from .9647 is corrective because a triangle separates the two legs. The only question is whether or not the rally from .9647 is a complete 3 wave rally or just the first wave of a larger more complex correction. Regardless, a bearish bias is warranted against 1.0527."

Note: the CHF may be the outperformer (along with the Yen) as risk aversion is expected to return (as suggested by stock market wave structure)

STRATEGY: Bearish, against 1.0527, target TBD

USD/CAD

The minimum objective that we have cited for some time is above 1.0324. However, the alternate (in red) commands a good deal of respect in this case given the USD bearish bias in the other pairs (alternate here is a triangle). This is why we mentioned the last few days to "think about taking some longs off of the table near 1.02." There is no change to this strategy. In the case of the triangle, the rally from .9818 would be wave D of the triangle (to be followed by wave E lower and then a bullish breakout).

STRATEGY: Bullish, against .9967, target above 1.0324 (but lighten up on longs ahead of 1.0324 resistance)

AUD/USD

The AUDUSD continues to respect the supporting trendline and as a result, we remain bullish. The advance from .8952 is likely the final leg of a diagonal that will lead to the major top mentioned in the longer term chart. "The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936)." A bullish bias is warranted against .9290 although price ideally remains above .9486.

STRATEGY: Bullish, against .9486, target .9936

NZD/USD

From a price structure point of view, the decline since the March top at .8215 has been choppy and corrective. The drop counts well as a double flat (this is a complex correction). Moreover, the legs of the decline are roughly equal (a common characteristic among corrections). The leg up from .7536 is the closest thing to an impulse that the NZDUSD has shown since the March top. As such, a bullish bias is warranted against .7536 and the target is above .8215. Yesterday’s plummet may be wave C within the A-B-C decline from .7921.

STRATEGY: Bullish, against .7536, target above .8215

DailyFX

Disclaimer

Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.

Dollar High Likely In Place - By DailyFX

2008-06-06T06:53:00.001-07:00

Dollar High Likely In Place

EUR/USD

STRATEGY: Bullish, against 1.5364, target above 1.5817

USD/JPY

Note: we are just as frustrated as many of you probably are... on the bright side, this is often the individual psychology that attends significant turns

GBP/USD

STRATEGY: Bullish, against 1.9461, target above 1.9850

USD/CHF

Note: the CHF may be the outperformer (along with the Yen) as risk aversion is expected to return (as suggested by stock market wave structure)

STRATEGY: Bearish, against 1.0527, target TBD

USD/CAD

STRATEGY: Bullish, against .9967, target above 1.0324 (but lighten up on longs ahead of 1.0324 resistance)

AUD/USD

STRATEGY: Bullish, against .9486, target .9936

NZD/USD

STRATEGY: Bullish, against .7536, target above .8215

DailyFX

Disclaimer

Technical Market View - By FX Greece

2008-06-06T06:47:00.000-07:00

Technical Market View

AUD/USD

AUD continues its consolidation above 0,9500, without any clear signs for its next move.

Volatility should continue between 0,9500 and 0,9650 for the next days...

EUR/CHF

The area of 1,6050 held and targets at the area of 1,6250 should be achieved. As upper level we see the area of 1,6300. Sell opportunities will emerge at those levels ...

EUR/GBP

Our scenario regarding a triangle formation was accurate. We wait for the targets at the area of 0,8000-20 to be achieved.

EUR/JPY

The pair performed a sharp rise and broke important resistance levels at 165,00 area. Our short term targets are set at 165,90-166,10 area. Sell positions will be tried at those levels, with stops above 166,60.

GBP/JPY

Upward break. The move is considered to have reached its ranges. A retracement to the base of 204,00 is the most possible scenario...

USD/CAD

First targets are achieved. The move should continue to 1,0280-00 area. Sell opportunities will emerge at that area...

Gold

A reversal candle followed the new lows. Our targets are in the area of 897,00-900,00.

SILVER

Clear consolidation regarding silver. First important resistance is found at 17,35-40 area, followed by 18,00...

CRUDE OIL

The lower part of the channel was instantly broken but bulls gained momentum again. Previous tops should be tested again...

DOW JONES

Important resistance is being reached, after yesterday's rally. The area of 12,700-30 should not be breached...

FX Greece

DISCLAIMER

The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
We reserve the right to change the terms and the characteristics of the analysis.
The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.

Technical Analysis Daily: USD/JPY - By iFOREX.bg

2008-06-06T05:20:00.001-07:00

Technical Analysis Daily

USD/JPY 106.00 - 6 June

USD/JPY Open 105.46 High 106.40 Low 105.20 Close 105.18

The US Dollar continued climbing against the Japanese Yen above the past key resistance at 105.60, and has now open potential of testing the new resistance level, the yesterday's top at 106.40. If the positive trend continues, next resistance further up is expected at 107.00, the break of which would open potential climb towards 107.80. In downward direction first support is yesterday's bottom at 105.20, followed by 104.40, and 103.00.

Technical resistance levels: 106.40 107.00 107.80
Technical support levels: 105.20 104.40 103.15

Trading range: 105.90 - 106.50
Trend: Upward
Buy at 106.00 SL 105.70 TP 106.40

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Elliott Wave and Fibonacci Predictions: USD/JPY - By Capital Forex Group

2008-06-06T05:16:00.000-07:00

Elliott Wave and Fibonacci Predictions

Hey traders. Price missed our entry yesterday on USD/JPY, so I jumped in after the retracement around 105,89 and booked 20 pips in the Sidney session. Ok, today we are expecting the most important number of the month, so I believe that everybody who are already involved are very nervous today. Its not good to trade during the news, especially if you don't have the information at the right time. The expectations are not good for the US , but my technical analyses are showing me, that we could see a stronger dollar today. So, any good news for the dollar and technical analysis can bring us some pips today. However, we all now that there are a lot of surprises in this market.

EUR/USD

After yesterdays Trichet's speech I made a step back and checked out the daily and the 4 hour chart on the EUR/USD. Euro is in very strong up trend for 7 years now, so I don't know why would this 1,6000 level be the end of this journey. On daily chart we have nice impulse counting, which is showing me new highs in this or maybe next year. Anyway, on 4 hour chart I came out with possible triangle A-B-C-D-E with 3-3-3-3-3 subwaves . The main reason that convinced me in this possible pattern is, because prices found the support in the very similar zone as previous wave 4 of smaller degree, which could be very strong indicator that right now we are also in wave 4 with the correction of the triangle. So if I am correct h, then we can expect move in to the pink wave B of blue D, labeled on the picture “bounce from 50 to 50” . This means that wave A could bounce from 50% of blue wave C and now we could also see (if there will be good news for the USD), move down to 50 % of the pink wave A, which happens in many cases of the triangle subwaves. Remember, its very hard to catch this trade, especially cause market is very fast during the news, so don't take a risk if you are not ready to face with the consequences (potential loss).

4h chart

USD/JPY

I booked some pips yesterday in the wave b of triangle. Well, the triangles are the most powerful patterns in the market, so if this is true then we could see the break on the upside after the wave e will be complete. Well this is my view because I am the EW trader, so I believe that there are a lot of you out there who are thinking the opposite. I will wait on the news to come out, and if there will good number for the US , then I will jump in with half of the position and put my stops bellow 105,82. My target will be 88 pips higher from wave e of blue iv…

Traders turn the CNBC on and make some money. See you after the weekend. Grega.

10min chart

Gregor Horvat
chief executive officer
forex analyst
Capital Forex Group LLC

These recommendations are for demonstration purposes only. You must do your own research and make your own investment decisions. Past performance is not necessarily indicative of future results. Before forex trading you should understand the risks associated with these trades including the potential loss of the entire premium paid. No representation is made that any account is likely to achieve profits or losses as indicated in our interactive portfolio. Capital Forex Group LLC and its owners are not liable for any losses, monetary or otherwise, that result from the content of this and any newsletter published by Capital Forex Group LLC. Please realize the risk with any investment and consult investment professionals before proceeding. Trading foreign exchange/Forex involves substantial risk of loss and is not suitable for everyone.

Daily Technical Strategist - By FXTechstrategy

2008-06-06T04:35:00.000-07:00

Daily Technical Strategist

Today's Focus: EURUSD & GBPUSD

EURUSD: Halts Downside Decline, Begins A Corrective Bounce
GBPUSD: Risk Still Remains Lower Towards The 1.9362/35 Zone

EURUSD

Having tumbled off the 1.5817 high to as low as 1.5364 low Thursday, EUR rose sharply higher off that intra day low to close the session at 1.5603.The pair looks to have begun a corrective recovery following the said decline and should now move towards the 1.5817 high, its May 27'08 high initially ahead of the 1.5895/I 5912 area, its Mar 31'08 high/April 10'08 high and then its YTD high at 1.6018.The daily stochastics has turned higher supporting the current upside view. On the hand, the pair is expected to weaken on completing the mentioned recovery putting the 1.5510 level, its April 03'08 low as the first support followed by its May 08'08 low at 1.5283 or even lower towards its .50 Ret (1.4309-1.6018 high) at 1.5164.On the whole, EUR's short term outlook continues to point lower while holding below the 1.5817 level.

Support	Comments
1.5510	April 03'08 low
1.5360/41	.382 Fib Ret/Mar 24'08 low/May 02'08
1.5283	May 08'08 low
1.5164	.50 Ret (1.4309-1.6018 high)
Resistance	Comment
1.5593	May 06'08 high
1.5710	April 18'08 low
1.5895/1.5912	Mar 31'08 high/2008 Peak
1.6018	YTD High

GBPUSD

Despite GBP's backing off its intra day low at 1.9460 Thursday, its broader bias remains to the downside opening up risk towards the 1.9360/35 area, its 2008 lows with a break below there taking it lower towards the 1.9180 level, representing its Mar'07 low. Daily studies remain supportive of this view.However, if a followthrough on its yesterday close is seen then a push towards the 1.9598 level, its April 15'08 ahead of the 1.9674/53 level, its April 25'08 low/Aug 17'07 high could ensue with a loss of there opening the door for more upside gains targeting the 1.9727/19 zone, its Mar 05'08/April 01'08 lows and next the 1.9850 level, its May 23'08 high and the 1.9963/ 2.0026 levels, its Feb 27'08/April 21 & 28'08 highs. All in all, while a higher close yesterday may suggest a temporary halt in its recent decline,as long as it continues to trade below the 1.9850,its medium term bearishness will continue to dominate.

Support	Comments
1.9360/35	2008 lows.
1.9180	Mar'07 Low
1.9045	1.272 Fib Ext
Resistance	Comments
1.9598	April 15'08 low
1.9674/53	April 25'08 low/Aug 17'07 high
1.9727/19	Mar 05'08/April 01'08 lows
1.9963/2026	Feb 27'08/April 21 & 28'08 highs

Mohammed Isah
Market Analyst
www.fxtechstrategy.com

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report

Currency Technical Report - By FX Greece

2008-06-06T03:49:00.000-07:00

Currency Technical Report

EUR/USD

Resistance : 1,5620-30/ 1,5655/ 1,5670/ 1,5700/ 1,5730
Support : 1,5550/ 1,5520-25/ 1,5490-00/ 1,5450

Comment : Euro rallied yesterday after the ECB's chairman comments and managed to breach eas-ily the first resistance levels that indicated the reversal. Mr. Trichet said that there is potential for the bank to raise rates in the near future and that was something that the market didn't expect.

Euro's rise should continue to higher levels, as yesterday's move couldn't satisfy all the traders that wanted to follow these new developments.

Volatility, due to important news ( Non Farm Payrolls), is likely to be used for buy positions.

First intraday support is found at the area of 1.5560-70, with more important at 1.5520-25 and 1.5470-90 area. Below 1.5450 the move will be unexpected, according to the technical outlook and the market's feeling after yesterday's developments. In such case, the targets will be in the area of 1.5350 and 1.5280-00 again…

Upwards, first resistance is found at 1.5630 area, where was the last top before yesterday's lows, followed by more important at 1.5680-90. Our basic targets for the move will be set in the area of 1.5740-50 and 1.5800…

TRADING EUR/USD : In our yesterday's analysis we were waiting for reversal signs and indica-tions that would lead us to the buyers side. Now we are on that side, and any retracement towards 1.5520-40 or 1.5490-5510 will be used for buy positions, with stops below 1.5450 area.

Our first target will be the area of 1.5620-30, followed by the area of 1.5680-00. An upward break towards 1.5680-00 area, will be used for sell positions.

The first hours of the European Session and before the important news announcements, small sell positions could be tried in the area of 1.5650 with close targets and stops

GBP/USD

Resistance : 1,9600-20/ 1,9650/ 1,9680-00/ 1,9730
Support : 1,9550/ 1,9500-10/ 1,9460-70/ 1,9400

Comment : The pound performed an upward break from the area of 1,9460. Even if there are rever-sal signs, we will be cautious until the break of first's important resistance which set the reversal.
First important resistance is found at 1.9620-30. An upward break will lead to 1.9700 area.

After yesterday's rise the ranges we had set in our morning analysis were reached and first important support for today is found at the area of 1.9550. Next target will be the area of 1.9500-20, with basic targets at 1.9350-00 coming back in play.

TRADING GBP/USD : The picture is not clear and we will keep our positions small. We keep sell positions from our strategy yesterday and we could add in case of a downward break of 1.9550… A clear break of 1.9630 will be followed with buy positions.

USD/JPY

USD/CHF

FX Greece

DISCLAIMER

The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
We reserve the right to change the terms and the characteristics of the analysis.
The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.

Currency Pair Daily Forecasts - By Finotec Group

2008-06-06T03:29:00.001-07:00

Currency Pair Daily Forecasts

EUR/USD Daily Technical Reports

EUR/USD-market strategy can be a buy till the level 1.5632$

Technical oscillators supporting the bullish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line but moving upwards. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction. Also, MA oscillators indicate a bullish cross on the short MA line. As seen on the chart there are two tops leading upwards to a bullish trend

USD/JPY Daily Technical Reports

USD/JPY-market strategy can be a buy till the level 106.50

Technical oscillators supporting the bullish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bullish crossover above the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction. Also, MA oscillators indicate a bullish cross on the short MA line. As seen on the chart there are two bottoms leading upwards to a buying trend.

GBP/USD Daily Technical Reports

GBP/USD-market strategy can be a sell till the level 1.9480$

Technical oscillators supporting the bearish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line.

USD/CHF Daily Technical Reports

USD/CHF-market strategy can be a buy till the level 1.0410

Technical oscillators supporting the bullish trend for the currency pair

Finotec Group Inc.
http://www.finotec.com/

Disclaimer: FINOTEC Tradings Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.

Daily FX Report - By Varengold Bank

2008-06-06T03:26:00.001-07:00

Daily FX Report

Good morning from Hamburg. After a surprising speech of Trichet, president of ECB, and the BoE conference yesterday, markets reacted already and therefore, it seems to become an easy Friday without any high records but maybe new temperature records in Hamburg. Everybody in the company is looking forward to the first games of the 'European Soccer Championship'. Indeed, the whole office has got the soccer fever.

Markets review

The EUR realised hefty gains against the USD and JPY after ECB chairman Trichet hold the interest rates steady at 4% but said that the European Central Bank is on high alert over the inflation and lots of policymakers support rising rates. Finally he added that the Governing Council could raise rates as soon as its July 3rd meeting occurs. The EUR/USD won 1,04% and rebounded the losses from Tuesday by a close at 1,5595.

The CAD lost steam against the USD on Thursday. Anyway it hit its lowest level since May 2nd reflecting markets view that US interest rates would rise overshadowed to a much stronger level than it was expected by reading the Canadian building permits data. The USD is up 0,02% against the CAD with a close at 1,0163.

The EUR/JPY hit a 5 mth high at 165,63 before closing at 165,46 so it is up 1,48%, as a rise in Tokyo shares improved risk appetite players to go into carry trades. The AUD/JPY extended gains to strike a 7 mth high at 102 even, while the USD/JPY is up 0,2% at 106,20 after hitting the high at 106,42 yesterday

Technical analysis

EUR/USD

On Tuesday the EUR/USD dropped down. After the EUR broke through the second support of the horizontal trading channel in the early Thursday session, the market expected more short movements. But the speech from Bernanke has catapulted the currency to its old range and closed near the resistance at 1,5603.

EUR/AUD

We see in a long dated chart analysis that the EUR/AUD has a zigzag movement. The currency pair trades is in a horizontal trend channel with a support at 1,5640 and a resistance at 1,7264. Because of the low level in the first quarter in 2008 there might be an upgraded support level at 1,5901.

Pivot Points - Daily FX Support and Resistance Levels

Daily Calendar & Key FX Events

Varengold Bank

IMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THIS DOCUMENT

This document is issued and approved by Varengold WPH Bank AG. The document is only intended for market counterparties and intermediate customers who are expected to make their own investment decisions without undue reliance on the information set out within the document. It may not be reproduced or further distributed, in whole or in part, for any purpose. Due to international laws/regulations not all financial instruments/services may be available to all clients. You should have informed yourself about and observe any such restrictions when considering a potential investment decision. This electronic communication and its contents are intended for the recipient only and may contain confidential, non public and/or privileged information. If you have received this electronic communication in error, please advise the sender immediately, and delete it from your system (if permitted by law). Varengold does not warrant the accuracy, completeness or correctness of any information herein or the appropriateness of any transaction. Nothing herein shall be construed as a recommendation or solicitation to purchase or sell any financial product. This communication is for informational urposes only. Any market or other views expressed herein are those of the sender only as of the date indicated and not of Varengold. Varengold reserves the right to consider any order sent electronically as not received unless it is confirmed verbally or through other means.

Technical Analysis Daily: GBP/USD - By iFOREX.bg

2008-06-06T03:22:00.000-07:00

Technical Analysis Daily: GBP/USD

GBP/USD 1.9546

GBP/USD Open 1.9818 High 1.9605 Low 1.9465 Close 1.9549

The British Pound recovered partly against the US Dollar yesterday, rising from yesterday's bottom 1.9465, to today's top at 1.9605, which are the first support and resistance levels respectively for the currency couple today. GBP/USD tested 1.9600, which is 50% Fibonacci correction of the climb from 1.9370 to 1.9840. If the positive sentiment continues, next resistance is expected at 1.9730, followed by 1.9840. In downward direction next support level today is expected at 1.9400, followed by 1.9320.

Technical resistance levels: 1.9605 1.9730 1.9840
Technical support levels: 1.9465 1.9400 1.9320

Trading range: 1.9535 - 1.9600

Trend: Upward

Buy at 1.9546 SL 1.9516 TP 1.9586

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Forex Technical Analysis - By DeltaStock Inc.

2008-06-06T03:18:00.001-07:00

Forex Technical Analysis

EUR/USD

Current level-1.5591

The pair has set a local bottom at 1.5363 completing the fall from 1.5818. Technical indicators are neutral. The 50- day SMA is currently projected at 1.5663.

After European Central Bank President Jean-Claude Trichet surprised the market with an interest rate hike possibility next month, EUR/USD took off the recent lows at 1.5363 and sharply advanced to 1.5604. In our opinion this marks a beginning of a short-term uptrend towards 1.6017 and beyond, as we have stated in our Midterm Forex Outlook. Intraday next resistance lies at 1.5663 and support can be found above 1.5534.

Today's strategy: Stand aside.

Resistance		Support
intraday	intraweek	intraday	intraweek
1.5663	1.5735	1.5961	1.6020
1.5534	1.5363	1.5282	1.50+

USD/JPY

Current level - 106.03

The pair is in a corrective uptrend from the 95.75 short-term bottom. Technical indicators are rising slowly and the upmove is dynamically supported at 102.36. The inner structure of the rise is by all means a corrective one, so from a larger point of view the overall downtrend from 124.14 is not over yet.

As expected the pair bottomed at 104.56, renewing the uptrend towards 106.68. Be careful around the above mentioned level, as it can provoke a reversal based on the resistance coming from the higher frames. Intraday expect one more test of the 105.54 support, before bouncing higher to 106.68.

Today' strategy: Buy on a dip to 105.54 with stop below 105.12 and target at 106.68.

Resistance		Support
intraday	intraweek	intraday	intraweek
106.28	106.68	106.68	108.31
105.13	104.56	102.63	100.82

GBP/USD

Current level- 1.9571

The downtrend from the 2.0397 local top has reached a low at 1.9374. Technical indicators are reversed on the 4 h. chart and the trading is situated below the 50- and 200-day SMA, currently projected at 1.9819 and 2.0044

As expected the pair bottomed at 1.9463 and advanced well to 1.9604. Unfortunately the impulse was not strong enough to break beyond 1.9637, that would definitely mark, that an uptrend has emerged for 2.0225. For now the downtrend from 1.9851 shall be considered as present and intact, and only above 1.9637 and mostly above 1.9741 our expectation for an advance towards 2.0225 will be confirmed.

Today's strategy : Buy on a break above 1.9604 with short-term target at 1.9851 and risk below 1.9463 or intraday's low.

Resistance		Support
intraday	intraweek	intraday	intraweek
1.9604	1.9741	1.9963	2.0196
1.9527	1.9463	1.9338	1.9196

DeltaStock Inc. - Online Forex & Securities Broker
www.deltastock.com

RISK DISCLAIMER: These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

Forex Depth Analysis: USD/JPY - By Finotec Group

2008-06-06T03:13:00.001-07:00

Forex Depth Analysis: USD/JPY

Yen could be next major to profit on a fragile dollar.

Friday saw the 10yr JGB future slide in the Tokyo session as it took its cue from an overnight slide in US and euro zone bonds following the hawkish rhetoric by ECB President Trichet. The 5yr yield touched a 10 month high and ended the day 7bp higher than the previous day's close.

Adding to the downside pressure of the JGBs was the Nikkei average which saw gains of more than 1.0%. There was no market moving data out of Japan, and newsthat total Japanese subprime losses were around USD 8bn as of the end of March did not seem to have much of an impact. Inflation concerns in Japan have increasingly started impacting JGBs, and market participants are slowly beginning to wonder when the BoJ may be in a position to raise rates. The Euroyen contracts saw losses of around 19 ticks for the back month contracts, while the Sep08 contract was down around 7 ticks.

The following technical analysis gives us a detailed lookout on what is expected to happen to USD/JPY.

The buying point is at 106.60; based on a break of a strong resistance

Previous resistance is the take profit at 107.07
Fibonacci 23.6% is the stop loss at 105.83

The selling point is at 106.07; based on a double top formation.

Fibonacci 38.2% is the take profit at 105.47
Previous resistance is the stop loss at 106.40

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the crossing of MACD line to the signal line pointing downwards. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction.

The ROC oscillator is very important to understand the demand in the market and as we see on the graph it breaks the equilibrium level. Momentum is in a clear downtrend. The Stochastic oscillator breaks 80% line and continues to go lower.

* The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given text.

Finotec Group Inc.
http://www.finotec.com/

Daily Forex Analysis - By FOREXYARD

2008-06-06T03:04:00.000-07:00

Daily Forex Analysis

Headlines

Nonfarm Employment Change on Tap

Market Trend

	EUR/USD	GBP/USD	USD/JPY	USD/CHF	AUD/USD	EUR/GBP
Daily Trend
Weekly Trend
Resistance	1.5670	1.9660	107.10	1.0490	0.9690	0.8050
	1.5650	1.9640	106.90	1.0470	0.9670	0.8030
	1.5620	1.9610	106.60	1.0440	0.9640	0.8000
Support	1.5540	1.9540	105.80	0.0370	0.9550	0.7930
	1.5510	1.9510	105.50	1.0340	0.9520	0.7900
	1.5490	1.9490	105.30	0.0320	0.9500	0.7880

Economic News

USD

The Greenback experienced a mixed day in the trading market, seeing early day gains against major currencies like the JPY and CHF, and losses against the EUR and GBP. The oft traded EUR/USD cross saw a 200+ pip gain yesterday, on the heels of an apparent change in the outlook of Euro interest rates as well as fears over today's upcoming Non Farm Payroll figures from the US.

Yesterday was a relatively quiet day on the US economic calendar, as Unemployment Claims headlined the Natural Gas Storage and a speech by Philadelphia Fed President Plosser. Unemployment Claims were down by 18,000 from last week to 357K, but speculation over the failing housing markets as well as concerns over a possible 100K drop in Non Farm Payrolls, sent the dollar on a bearish run, most notably against the EUR. Reports of nearly 1 million homes foreclosing in the US have sent a chilling reality to many investors that the US is still ripe with economic issues.

Remarkably the USD had hit a 4 week high in the early hours of trading on Thursday, dipping below 1.54 support levels, before rocketing back over 1.56 towards the evening GMT. The turn around happened in large part to hints given by European Central Bank (ECB) President Jean-Claude Trichet, that the ECB would raise interest rates in June or July.

Looking ahead to today, the USD will be in the forefront of the news, as we expect a batch of significant market making news. Unemployment Rate, Average Hourly Earnings, a speech by Fed Governor Kroszner, Wholesale Inventories and Consumer Credit are all on tap and will be highlighted by the 12:30 GMT release of ADP Nonfarm Payrolls. The all important employment figure is forecasted to drop by anywhere between 30K and 80K more than last months fall of 20K. A drop in payroll figures this month will mark the 5th consecutive month that ADP figures (one of the more important on the US calendar) will fall. History has shown us that the market becomes volatile in and around the time of the ADP release. With the current trend of the USD against the EUR, expect to see the EUR/USD cross continue its bullishness. It is likely that the USD will see bearishness throughout the market on Friday against the rest of its major rivals.

EUR

The EUR was at the headline of the news day yesterday, as it saw steady gains versus a majority of its currency rivals. The bullishness from the 15-Nation currency was brought about by a speech by ECB President Jean-Claude Trichet, where he stated the intention of the ECB to raise interest rates for the EUR. The idea of a EUR rate hike has been swirling around the rumor mill for sometime, however the stoic hawkishness of the ECB and its upper management regarding Euro-Zone (EZ) monetary policy has dulled any real chance of such a hike happening, until now. Trichet touched upon the 'heightened alertness' of the ECB regarding inflationary risks in the EU, as he hinted at a rate hike in the coming months.

The news sent the EUR booming through the market, as it made substantial runs versus its major rivals, including a 200 point swing versus the dollar. Accompanying the ECB Press Conference on yesterdays EZ news calendar, was German Factory Orders, which came back with less than favorable numbers dropping nearly 2% in the month of April.

On tap today from the EZ, we will see French Government Budget Balance, French Trade Balance and German Industrial Production numbers. The results are not expected to change the outlook of the bullish EUR, as most of the days news will come from the US.

Today's market outlook has all the makings for a high liquidity, high volatility day as investors look to capitalize on extended trends.

JPY

Yesterday the JPY saw falling trends against most of its major counterparts. The USD\JPY began the trading day at the rate of 105.26, went up to 106.12, and finished the day at 105.96. The JPY also saw bearish trends against the EUR and the GBP. The JPY's downfall was predominantly observed as a result of a batch of positive data published from the U.S and the Euro-Zone, as opposed to the Japanese economy who failed to deliver any significant data over the last few days. Today, no data releases are scheduled for the JPY, which therefore turns U.S news to be even more relevant. Traders are especially advised to pay attention to the U.S Employment Change surveys that should be the most influential data release today.

Technical News

EUR/USD

The daily Slow Stochastic is confirming that the bearish momentum of the pair which was very strong is now over. There is a strong bullish cross and the RSI is confirming the bullish notion. Going long appears to be preferable.

GBP/USD

The cable is still traded within the bearish channel on the daily chart and is now floating with moderate bullish momentum. There is a cross on the Slow Stochastic which indicates a possible test of the upper level of the channel. It might be smart to go long with very tight stops and wait for the bullish breach.

USD/JPY

The pair has breached the key resistance level of 105.50, and it appears that the bullish momentum is very strong. All oscillators are supporting the bullish notion, and it might be preferable to establish a long run buy position as the bullish potential is quite high.

USD/CHF

Although the pair is showing a violent and choppy session on many occasions, the daily chart is still floating on very neutral territory with no distinct price direction. The 4 hour chart is slightly hinting on a bullish direction yet it is advised to wait for a strong signal and swing in.

The Wild Card

Crude Oil

After a very long period that oil was soaring on a very consistent basis, there seem to be a bearish breach though the daily bullish channel which indicates a possible bearish corrective move. Forex traders have a good shot at what might be a strong bearish trend and need to be protected with tight stops to maximize the position's potential.

Indicators

Date	Time (GMT)	Country	Event	Period	Previous	Forecast	Importance
2008-06-06	06:45:00	EUR	French Government Budget Balance		-22.5B	-40.0B	**
2008-06-06	06:45:00	EUR	French Trade Balance		-4.8B	-4.0B	**
2008-06-06	09:00:00	CHF	SNB Board Member Jordan Speaks		*	*	***
2008-06-06	10:00:00	EUR	German Industrial Production	m/m	-0.5%	0.2%	**
2008-06-06	11:00:00	CAD	Employment Change		19.2K	10.0K	****
2008-06-06	11:00:00	CAD	Unemployment Rate		6.1%	6.1%	****
2008-06-06	12:30:00	USD	Nonfarm Employment Change		-20K	-57K	*****
2008-06-06	12:30:00	USD	Unemployment Rate		5.0%	5.1%	*****
2008-06-06	12:30:00	USD	Average Hourly Earnings	m/m	0.1%	0.2%	****
2008-06-06	12:45:00	USD	Fed Governor Kroszner Speaks		*	*	****
2008-06-06	14:00:00	USD	Wholesale Inventories	m/m	-0.1%	0.4%	**
2008-06-06	19:00:00	USD	Consumer Credit	m/m	15.3B	7.3B	**

FOREXYARD

Forex Technical Update - By Rcpl Forex

2008-06-06T03:00:00.001-07:00

Forex Technical Update

Euro: Euro surged by 235 pips to touch 1.5600 mark (50% Retracement of the latest fall in daily) as Trichet indicated that ECB may be hawkish enough to hike in July. The 4-Hourly stochastic is overbought while the daily shows strong upmove. The pair is currently taking strong resistance of (21 daily EMA & 100 & 200 4-Hourly EMA and 50% retracement of the latest fall) and a firm break of this resistance will lead Euro to 1.5645 levels (61.80 retracement of the latest fall). (Eur/Usd-1.5582).

Pound: Pound traded in a range of 134 pips as it surged from the intraday low of 1.9461 to touch a high of 1.9595 in the U.S. session (took resistance of the 21 4-Hourly EMA, 100 Hourly EMA and 50% Retracement of latest fall). The 4-Hourly stochastic is overbought while the daily shows buying pressure. A firm break of the above mentioned resistance will lead Pound to 1.9670 levels (21 Daily EMA) but, if the resistance holds the bias would be bearish. (Gbp/Usd- 1.9569).

Yen: USD/JPY pair surged from the day's low of 105.19 as it stayed above the 100 Daily EMA throughout the session to trade in a range of 123 pips. The daily and 4-Hourly stochastic show some room for upmove, which along with strong Asian equity markets should lead the USD/JPY pair beyond yesterdays high of 106.42. Usd/Jpy- 106.16).

Rupee: The rupee continued to weaken yesterday to end the day at 42.90 against the dollar, 12 paise below its previous close as. Today rupee was at 42.825/875 per dollar, stronger than thursday's close of 42.90/91 helped by firm Asian stocks and on expectations of foreign inflows. RBI would possibly intervene to prevent rupee to go past the 43 mark. (Usd/Inr- 42.80)

Swiss Franc: USD/CHF pair scaled up to high of 1.0520 in the early trading session but witnessed a free fall in the US session on the back of hawkish statements given by the Mr. Trichet. The daily stochastic shows fall while the hourly and 4-hrly shows some buying pressure. The pair is currently facing stiff resistance at 1.0395 (21 & 55 daily and 100 & 55 4-hrly EMA) a break of this level would indicate a further upmove till 1.0438 (50% retracement hourly charts) which should hold. (Usd/Chf-1.0394).

Australian Dollar: Aussie tested the bids of 0.9511 in the yesterday's session but later regained to touch a high of 0.9592. The daily stochastic shows strong buying pressure while the 4-hrly shows a fall hence a further upmove beyond 0.9631(trend line resistance) seems to be unlikely. On the downside 0.9613 ( 21 daily EMA & 38.2 % retracement) should hold. A firm break of this level would lead to a further fall upto 0.9450 (100 daily EMA). (Aud/Usd - 0.9601).

Gold: Gold had a volatile trading day as it traded in a range of $14 as it surged up to a high $878. Strong resistance comes in at $892 (100 & 21 daily EMA and 38.2% retracement daily charts) which should cap an upmove if any. Gold is currently trading at critical levels of $ 877( 61.8% retracement of the rise from $780 to $1032) a further deterioration from this support would indicate a bearish bias and a fall till the next immediate support of $850 (200 daily EMA) can be expected in the next few trading sessions. (Gold - $878.00)

Dollar index: Dollar index is currently at 73.12, 0.55 points lower than previous levels of 73.67. Stochastic is currently at 71.13% and have taken sharp turn upwards indicating a further upmove. Medium term target 75.00.

RCPL FOREX
www.rcplforex.com

DISCLAIMER

These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex

2008-06-06T02:57:00.001-07:00

EURUSD, AUDUSD, EURCHF Daily Outlook

EURUSD

The Euro recovered its recent losses after a 240 points rally on yesterday following ECB president Trichet who said that an interest-rate hike in July is "possible". The surprising hawkish shift brings the elevated levels on EURUSD back in focus, at least for now. Although technically we are back into a neutral zone, the NFP data today could decide the market direction for the upcoming weeks. Major resistance is formed around 1.5630 and higher into the 1.5740 region by a downward trendline from 1.6019 through 1.5818. While the upper half of the 1.56 area remains intact, downside won't be stable at all and a "good" figure on NFP may bring recent lows into the 1.54 and 1.53 zones back on focus. Important support starts at 1.5550 backed by 1.5485 and 1.5370. Current quote is 1.5596 @06:44 GMT

Support levels: 1.5550, 1.5520, 1.5485, 1.5425 and 1.5370.
Resistance levels: 1.5610, 1.5630, 1.5645, 1.5700 and 1.5740.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : neutral

AUDUSD

Key resistance into the 0.9620-0.9650 range is aimed by the Aussie and a break is needed to resume uptrend. While the said resistance holds, more rangebound action supported into the 0.9500 zone is expected. Upside is favored while the 0.9475 support is intact. Current quote is 0.9593 @06:44 GMT

Support levels: 0.9560, 0.9510, 0.9475 and 0.9425.
Resistance levels: 0.9610, 0.9620 0.9650 and 0.9700.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish

EURCHF

The break of the 1.6170 resistance is encouraging for the bulls, interim support being seen now at 1.6170 and 1.6125. Important resistance formed by a downward trendline is noticed into the 1.6240 region. Bearish structure is intact and a break of 1.6240 will signal a resume of previous uptrend. Current quote is 1.6206 @06:44 GMT

Support levels: 1.6170, 1.6125, 1.6075 and 1.6035.
Resistance levels: 1.6240, 1.6300 and 1.6380.

E-Forex

Legal disclaimer and risk disclosure

Past performance does not guarantee similar performance in the future. Our forecasts do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any foreign exchange transaction. E-Forex.ro accepts no responsibility or liability whatsoever for any expense. We do not warrant or guarantee the accuracy, timelines or completeness to the service or informations you find here.

Forex Technical Analytics - By FOREX Ltd

2008-06-06T02:52:00.001-07:00

Forex Technical Analytics

CHF

The pre-planned buyers' positions from the key support range have been realized with attainment of main assumed targets. Further realization of breakout variant for sales did not have any positive result within previous trading day but the relative rise of bearish activity at the break of key supports revealed by OsMA indicator is an argument to preserve short positions for further rate fall. At present taking into account the ascending direction of indicator chart, we assume a possibility of pair return to the nearest resistance range 1.0410/20, where is it recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.0350/70 and/or further breakout variant up to 1.0290/1.0310, 1.0220/40. An alternative for buyers will be above 1.0440 with the targets 1.0480/1.0500, 1.0520/40.

GBP

The assumed test of the key resistance range has been confirmed but relatively high level of bullish activity revealed by OsMA indicator did not dispose to realization of the pre-planned short positions. At present taking into account the features of bullish incompletion with further rate correction, we assume a possibility of pair return to supports 1.9520/40, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 1.9580/1.9600, 1.9620/40 and/or further breakout variant up to 1.9680/1.9700, 1.9720/40. An alternative for sales will be below 1.9460 with the targets 1.9400/20, 1.9360/80.

JPY

The assumed pair return to key supports for realization of the pre-planned buyers' positions has not been confirmed and the expected rate rise with a break of boundary targeted levels did not reveal the confirmative advantage in development of any party. Hence as before, we assume a possibility of range movement of the rate with presumptions about possible test of supports 105.60/70, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 106.00/20, 106.40/60 and/or further breakout variant up to 107.00/20, 107.60/80, 108.00/20. An alternative for sales will be below 105.40 with the targets 104.80/105.00, 104.40/60.

EUR

The pre-planned breakout variant for buyers has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the considerable rise of bullish activity does not leave the other alternative but attendant choice of planning priorities for today. Hence and because of descending direction of indicator chart, we assume a possibility of pair return to the nearest supports 1.5520/40, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For buyers' positions on condition of formation of topping signals the targets will be 1.5580/1.5600, 1.5620/40 and/or further breakout variant up to 1.5680/1.5700, 1.5740/60. An alternative for sales will be below 1.5480 with the targets 1.5420/40, 1.5360/80.

FOREX Ltd
www.forexltd.co.uk

Technical Analysis for Crosses - By Crown Forex

2008-06-06T01:17:00.000-07:00

Technical Analysis for Crosses

GBP/JPY

The Pound rose yesterday against the Yen inline with our expectations to acquire the 207.35 target, and today the pair is most likely to continue the bullish wave that targets the 208.52 and then the 209 levels, yet the momentum indicators are showing the pair is in need of a slight correction to gather further upside momentum on intraday basis and the 206.33 could provide a solid base for today as it offers good demand.

Support: 207.19, 206.71, 206.33, 205.69, 205.21
Resistance: 207.81, 208.29, 208.97, 209.45, 210.07

EUR/JPY

The Euro inclined heavily against the Yen yesterday as the pair managed to breach the major resistance at 164.30 and the pair is now targeting the 166.02 and then the 166.82, should the pair remains trading above the 165.19 on a weekly basis we might as well see the pair acquiring even higher targets, the momentum indicators are providing mixed signals yet the pair is most likely to drop slightly before attempting to rise again, while the point at 164.20 offers strong demand for the pair.

Support: 165.24, 164.78, 164.20, 163.91, 163.61
Resistance: 165.58, 165.87, 166.18, 166.48, 166.78

EUR/GBP

The Euro was finally able to breach the 0.7931 against the Pound and the pair's way is now open up to the 0.80 levels, yet the momentum indicators are showing that the pair is being traded within an overbought area over the short term and that might indicate an upcoming correction, should the 0.7931 remains intact the pair would continue its bullish wave to acquire the first target at 0.8004, while breaching the 0.7931 could lead the pair back to the 0.7890 levels which offers strong demand.

Support: 0.7958, 0.7944, 0.7931, 0.7918, 0.7904
Resistance: 0.7975, 0.7990, 0.8004, 0.8017, 0.8031

Crown Forex

disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Technical Analysis for Major Currencies - By Crown Forex

2008-06-06T00:23:00.000-07:00

Technical Analysis for Major Currencies

EURO

The European currency supported by yesterday 's Trichet speech was able to break from that neutral area and climb above the ascending trend line again, which again gives the euro an edge in trading, and now we can initiate some new targets around 1.5950 if the euro maintained the same level of strength and the sound fundamentals in the up coming period. Today the possible target is around 1.5720 in light with the U.S. jobs report.

The trading range is among the key resistance level at 1.5720 and the key support level at 1.5520.

The general trend is to the upside as far as 1.4260 remains intact; targets are set at 1.6080 and 1.6360.

Support: 1.5598, 1.5580, 1.5555, 1.5535, 1.5520
Resistance: 1.5620, 1.5635, 1.5660, 1.5692, 1.5730

Recommendation: Buy Euro above 1.5580 with a target at 1.5665 and a stop loss below 1.5545

GBP

The British pound and despite it did climb well yesterday is still trapped in the descending channel with a ceiling at 1.9580 which if not breach with the 1.9610, the intermediate trend for the pound will remain to the downside and will not be able to follow the pace of the euro, while the technical indicators show that there is still an opportunity for further upside movement where today's U.S. jobs might have the final word in that.

The trading range is among the key resistance level at 1.9730 and the key support level at 1.9460

The general trend is to the downside as far as 2.0200 remains intact; targets are set at 1.9230 and 1.8700.

Support: 1.9555, 1.9536, 1.9508, 1.9491, 1.9476
Resistance: 1.9581, 1.9610, 1.9625, 1.9660, 1.9684

Recommendation: Buy on the break of 1.9600 till 1.9700 and a reverse stop below 1.9575.

JPY

The dollar against the Japanese yen reached yesterday to a very critical resistance at 106.40 which represents after the fall of 105.80 the last resort for the medium term downtrend, and the next strong resistance will be at 108.80 as the pair will be in a neutral area till there, today if this level shall stand, it might create an opportunity for some profit taking, maybe with some help from the job's report, and if breached we will see a break from there and then it will stand as a support for pair.

The trading range for today is among the key resistance level at 106.45 and the key support level at 104.90

The general trend is to the downside as far as 109.00 remains intact; targets are set at 92.40 and 90.00.

Support: 106.05, 105.81, 105.72, 105.55, 105.20
Resistance: 106.32, 106.45, 106.67, 107.20, 107.45

Recommendation: Sell the pair below 106.35 with a target at 105.80 and a stop loss above 106.50

CHF

The dollar against the Swiss frank is still in its neutral territory pointing lower as it remains below 1.0450, but if that bottom of the triangle at 1.0350 gets breached new targets will be initiated around the parity level, yet the technical indicators are still neutral so any movement today will be on the jobs' report merits.

The trading range is among the key resistance level at 1.0460 and the key support level at 1.0220.

The general trend is to the downside as far as 1.1000 remains intact; targets are set at 0.9670 and 0.9370.

Support: 1.0390, 1.0360, 1.0345, 1.0320, 1.0280
Resistance: 1.0420, 1.0452, 1.0487, 1.0520, 1.0535

CAD

The pair has reached to an important level above 1.0200and as long as it did not breach that level a profit taking might happen as the technical indicators show that the pair is loaded with buy orders and it has to make a bit of a correction, this move might extend towards the parity level.

The trading range is among the key resistance level at 1.0220 and the key support level at 1.0000.

The general trend is to the downside as far as 1.0700 remains intact; targets are set at 0.9030 and 0.8840.

Support: 1.0180, 1.0155, 1.0123, 1.0090, 1.0072
Resistance: 1.0220, 1.0243, 1.0269, 1.0310, 1.0340

Recommendation: Sell the pair below 1.0210 with a target at 1.0120 and a stop loss above 1.0245.

Crown Forex

FX Technical Analysis - By Mizuho Corporate Bank

2008-06-06T00:21:00.001-07:00

FX Technical Analysis

EURUSD

Comment: Bouncing even more smartly than we could have hoped for from the bottom of the Ichimoku 'cloud'. Today expect random small moves at these higher levels, probably between 1.5500 and 1.5625.

Strategy: Attempt longs at 1.5600 but only if prepared to add to 1.5500; stop below 1.5350. Short term target 1.5625, maybe 1.5700.

Direction of Trade: →

Chart Levels:

Support	Resistance
1.5573	1.5607
1.5521	1.5629*
1.5487	1.5650
1.5410	1.5685
1.5365*	1.5760

GBPUSD

Comment: Reversing from a low at 1.9462, forming a 'hammer', close to many daily lows in May. Cable will hold above here today and probably squeezing cautiously to the 9-day moving average at 1.9655.

Strategy: Attempt longs on a dip to 1.9550/1.9525; stop below 1.9450. Short term target 1.9650/1.9700.

Direction of Trade: →

Chart Levels:

Support	Resistance
1.9566	1.9608
1.9525	1.9638
1.9500	1.9700
1.9465/1.9450**	1.9800*
1.9400*	1.9852

USDJPY

Comment: Squeezing higher to 106.44 taking many by surprise having held within such a tiny range for so many weeks. We feel this is likely to turn into an 'extension' or 'false break' and are therefore looking for signs of petering out and reversing.

Strategy: Possibly attempt tiny shorts at 106.10; stop above 106.65. Short term target 105.50, then 104.50.

Direction of Trade: →

Chart Levels:

Support	Resistance
105.84	106.27
105.50*	106.44*
105.00	106.60
104.50	107.00
104.00	107.50

EUR/JPY

Comment: Bouncing from the top of a large Ichimoku 'cloud', trading higher than it has done this year. Needless to say this is not what we had expected and will be looking closely at the weekly charts on Monday to see whether we will have to re-think Yen crosses. For today do as little as possible because the Euro is overbought and we are close to the highest prices ever.

Strategy: Possibly attempt tiny shorts at 165.55; stop above 166.75. Short term target 164.50, then 163.50.

Direction of Trade: →

Chart Levels:

Support	Resistance
165.00	165.63
164.50	166.00
164.00*	166.67*
163.50	167.00
163.00	167.73*

Mizuho Corporate Bank

Disclaimer

The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.

Technical Analysis Daily: EUR/USD - By iFOREX.bg

2008-06-06T00:19:00.000-07:00

Technical Analysis Daily: EUR/USD

EUR/USD 1.5576

EUR/USD Open 1.5548 High 1.5603 Low 1.5370 Close 1.5584

The Euro climbed significantly yesterday against the US Dollar from 1.5370 to 1.5603 when ECB's Trichet gave signals for a possible rate hike In July. The above are are the first resistance and support levels respectively for the currency couple today. If the positive trend continues, next resistance is expected at 1.5550, followed by 1.5625. In downward direction next support for today is expected at 1.5300, the break of which would lead to next target 1.5230.

Technical resistance levels: 1.5480 1.5550 1.5625
Technical support levels: 1.5370 1.5300 1.5230

Trading range: 1.5565 - 1.5630

Trend: Upward

Buy at 1.5576 SL 1.5546 TP 1.5616

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Forex and Dow Jones Recommended Levels - By FXtechtrade

2008-06-06T00:16:00.000-07:00

Forex and Dow Jones Recommended Levels

EUR/USD

Today's support: - 1.5547, 1.5518 and 1.5477(main), where correction is possible. Break would give 1.5452, where correction also may be. Then follows 1.5435. Break of the latter would result in 1.5393. If a strong impulse, we would see 1.5362. Continuation will give 1.5330 and 1.5302.

Today's resistance: - 1.5617(main). Break would give 1.5636, where a correction is possible. Then goes 1.5665. Break of the latter would result in 1.5692. If a strong impulse, we'd see 1.5715. Continuation will give 1.5737.

USD/JPY

Today's support: - 105.75, 105.30 and 105.08(main). Break would bring 104.82, where correction is possible. Then 104.57. If a strong impulse, we would see 104.40. Continuation would give 104.29.

Today's resistance: - 106.36 and 106.68(main), where a correction may happen. Break would bring 106.87, where also a correction may be. Then 107.20. If a strong impulse, we would see 107.46. Continuation will give 107.68 and 107.95.

DOW JONES INDEX

Today's support: - 12 571.86 and 12 543.62(main), where a delay and correction may happen. Break of the latter will give 12 515.57 and 12 498.73, where correction also can be. Then follows 12 453.40. Be there a strong impulse, we would see 12 420.0. Continuation will bring 12 403.11.

Today's resistance: - 12 614.28 and 12 633.74 (main), where a delay and correction may happen. Break would bring 12 656.23, where a correction may happen. Then follows 12 680.00, where a delay and correction could also be. Be there a strong impulse, we'd see 12 693.83. Continuation would bring 12 711.78.

FXtechtrade
http://www.fxtechtrade.com

Disclaimer: Any information presented by Nikolajs Serikovs at this very website should be in no way understood as an offer, promise or guarantee for receiving a profit or avoiding the losses. Stated here levels of support and resistance must not be construed as an investment advice or endorsement for any financial instrument. There exists no guarantee that the market would behave in accordance with the information stated here Prepared in Republic of Latvia for the worldwide distribution.

Daily Forex Market Commentary - By Global Forex Trading

2008-06-06T00:13:00.001-07:00

Daily Forex Market Commentary

The euro/dollar aggressively reversed from a three-week low after ECB President Trichet signaled a possible rise in euro zone interest rates as early as July. The dollar rallied against the yen, but gave up gains versus the pound and franc. Careful today, as the non-farm payrolls are due. If the ADP is of any significance, the report should not be that weak.

Euro/dollar

The euro/dollar surged from a three-week low following Trichet's statement and tested the trendline of its channel declining since May 27. If the non-farm is strong, then the pair will go down; if not, the trendline resistance will be toast.

Initial resistance is at 1.5647. If it breaks, look for a rally to the distant resistance at 1.5755.

The pair has immediate support at 1.5540. The next level is 1.5495. Below 1.5415, further support is pegged at 1.5335.

Oscillators are divergent.

NEAR-TERM: Mixed with risk either way
MEDIUM-TERM: Mixed to slightly bearish
LONG-TERM: Bullish

Dollar/yen

Dollar/yen exploded to a 3 ½-month high from an inside range. Expect further strength only if 106.42 breaks.

Above this level, resistance is now seen at 106.85. Distant resistance follows at 107.90.

Initial support is now at 105.60 from a 50-point pivot that targets 105.10 and 106.10. 105.10. Distant support comes at 104.50 from a 50-point pivot, which targets 104.00 and 105.00.

Oscillators are rising.

NEAR-TERM: Mixed with risk either way
MEDIUM-TERM: Bullish
LONG-TERM: Bearish

Sterling/dollar

Sterling/dollar recovered from a 2 ½-week low to close little changed on Thursday. It looks like an intermediate bullish reversal, but with the US data pending, it can go either way today.

Immediate resistance is pegged at 1.9600. Above 1.9690 there is a distant ceiling at 1.9770.

Below 1.9515, support is at 1.9470. Distant support is now seen at 1.9365.

Oscillators are mixed.

NEAR-TERM: Mixed with risk either way
MEDIUM-TERM: Bearish
LONG-TERM: Mixed

Dollar/Swiss franc

Dollar/Swiss made the expected upmove only early in the day and then gave it all up. It's approaching the tip of a triangle and nervous directionless trading should continue.

Immediate support is now seen at 1.0315. Below it, distant support follows at 1.0215.

Initial resistance is seen at 1.0425. The next ceiling remains pegged at 1.0490. A break above 1.0533 would signal a spike up to 1.0622, but this is unlikely.

Oscillators are mixed.

NEAR-TERM: Mixed with risk either way
MEDIUM-TERM: Slightly bullish
LONG-TERM: Bearish

Cornelius Luca
Global Forex Trading
http://www.gftforex.com

DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the author are not necessarily those of Global Forex Trading, its owners, officers, agents or employees. In addition, any projections or views of the market provided by the author may not prove to be accurate. Global Forex Trading and Cornelius Luca will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. Global Forex Trading and Cornelius Luca do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought.

FX Technical Commentary - By Easy Forex

2008-06-06T00:07:00.001-07:00

FX Technical Commentary

Euro 1.5590

Initial support at 1.5366 (Jun 5 low) followed by 1.5288 (May 8 reaction low). Initial resistance is now located 1.5598 (Jun 5 High) at followed by 1.5628 (Jun 3 high).

Yen 105.90

Initial support is located at 105.21 (June 5 low) followed by 104.54 (Jun 4 low). Initial resistance is now at 106.65 (Feb 28 high) followed by 107.44 (61.8% retracement of the 114.66 to 95.76).

Pound 1.9590

Initial support at 1.9454 (May 19 low) followed by 1.9363 (May 14 low). Initial resistance is now at 1.9637 (June 4 high) followed by 1.9741 (Jun 3 high)

Australian Dollar 0.9590

Initial support at .9488 (Jun 4 low) followed by 0.943 (61.8% retracement 0.9291 to 0.9655). Initial resistance is now at 0.9633 (Jun 4 high) followed by 0.9639 (May 29 high).

Gold 878

Initial support at 865.1 (May 30 low) followed by 860.5 (May 14 low). Initial resistance is now at 897.3 (Jun 2 high) followed by 909.85 (May 28 high).

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5288	1.5366	1.5590	1.5598	1.5628
USD/JPY	104.54	105.21	105.90	106.65	107.44
GBP/USD	1.9363	1.9454	1.9590	1.9637	1.9741
AUD/USD	0.9430	0.9488	0.9590	0.9633	0.9639
XAU/USD	860.50	865.10	878.00	897.30	909.85

Easy Forex
http://www.easy-forex.com

Easy-Forex makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Therefore you should consider whether these products are appropriate in view of your objectives, financial situation and needs as well as considering the risks associated in dealing with those products

Chart Of The Day: USD/CAD - By FX Solutions

2008-06-05T11:49:00.000-07:00

Chart Of The Day: USD/CAD

6/05/2008 - USD/CAD - Within the current long-term downtrend channel on the USD/CAD daily chart, as shown, price has just reached a critical resistance level. The most recent upturn initiated last week has pushed price up against two significant resistance factors. The first factor is represented by the short-term descending channel (shown on the chart by the short parallel red lines). Price has just reached the top resistance line of this short channel. The second factor is the latest intra-channel uptrend line (represented by the rightmost green line) which was broken down early last month. Price can now be considered to have initiated a pullback up to the trendline (now resistance) once again. Of course, this pullback would not be confirmed unless the lowest low after the breakdown is eventually surpassed. Stochastics are in extremely overbought territory, lending strength to this bearish outlook. Barring any fundamentally-driven breakout above the current resistance, an impending turn back down at or near this resistance should target major support in the region of the lowest low after the breakdown - around 0.9820.

James Chen
Chief Technical Analyst

FX Solutions

IMPORTANT NOTICE: These comments are for information purposes only. Past results are not necessarily indicative of future results. Trading Futures, Options on Futures, and Foreign Exchange involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. The information contained on this email does not constitute a solicitation to buy or sell by FX Solutions,LLC., and/or its affiliates, and is not to be available to individuals in a jurisdiction where such availability would be contrary to local regulation or law.

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance lines in yellow; 200-period simple moving average in light blue.)

Australian Dollar Crosses Consolidate - By DailyFX

2008-06-05T11:45:00.000-07:00

Australian Dollar Crosses Consolidate

AUDCHF

If 1.0823 holds, then the count in black is valid. That count indicates that the AUDCHF is in wave C of a large correction that will eventually come under .8882. However, with price so close to breaching 1.0823, we are presenting the alternate (in red); which suggests that the advance from .8882 is wave B of a triangle.

AUDCAD

We wanted to show a bigger picture view of the AUDCAD this week. The monthly chart shows that an inverse head and shoulders (a triple bottom of sorts) has been forming since 1986. The neckline of the pattern is not until close to 1.02. Short term, the advance is extended and a pullback to at least the .9300 region is expected in the coming weeks.

AUDNZD

A price extreme for wave 4 may be in place at 1.2121 but expect the consolidation to continue. Triangles are common 4th wave structures and if one is unfolding now then consolidation will likely last for at least a few more weeks.

TREND ANALYSIS is based on a rolling pivot model. LONG TERM TREND is determined by the last 3 months of price data (high, low, close). SHORT TERM TREND is determined by the last 4 weeks of price data (high, low, close). R3, R2, R1, PL, PH, S1, S2, and S3 are provided to aid in identifying entries and exits. These are objective measures and our subjective analysis (STRATEGY) may differ.

DailyFX

Disclaimer

Dollar Still Flexing...but Key Levels Well Defined - By DailyFX

2008-06-05T09:24:00.000-07:00

Dollar Still Flexing...but Key Levels Well Defined

The USD rallied overnight but we maintain a bearish bias. Levels are well defined for the EURUSD, GBPUSD, and USDCHF.

EUR/USD

The EURUSD has broken to multi-day lows but the larger bullish bias is valid as long as price is above 1.5283. The decline from 1.5817 is labeled as a W-X-Y (complex) correction. The minimum bullish objective is one pip above 1.5817. Even if a larger more complex correction is unfolding from 1.6018 (such as a flat or a triangle), price is still expected to exceed 1.5817.

STRATEGY: Bullish, against 1.5283, target above 1.5817

USD/JPY

Where does the corrective USDJPY rally end? We have tried catching this turn 3 times and each time the market has told us that we are wrong. Potential resistance extends to the 2/28 high; at 106.63. This is also a major congestion area. Ideally, a top forms before 107.20 (failure to do so would require us to reassess the longer term pattern).

GBP/USD

Similar to the EURUSD, the GBPUSD has broken to multi-day lows but the larger bullish bias is intact as long as price is above 1.9362. Today's low (1.9525) is at the 78.6% of 1.9362-1.9850. As long as 1.9362 is intact, the GBPUSD is expected to exceed 1.9850 and reach resistance from daily highs just shy of 2.0250.

STRATEGY: Bullish, against 1.9362, target above 1.9850

USD/CHF

There is little doubt that the advance from .9647 is corrective because a triangle separates the two legs. The only question is whether or not the rally from .9647 is a complete 3 wave rally or just the first wave of a larger more complex correction. Regardless, a bearish bias is warranted against 1.0527.

STRATEGY: Bearish, against 1.0527, target TBD

USD/CAD

The USDCAD continues to work higher from the 78.6% of .9710-1.0324 at .9841. The push through .9997 is evidence that a low is in place. Risk can now be moved to .9823. Remember, the minimum objective is above 1.0324. The alternate (in red) is a triangle, so think about taking some longs off of the table near 1.02 (current price). The rally from .9818 would be wave D of the triangle (to be followed by wave E lower and then a bullish breakout).

STRATEGY: Bullish, against .9967, target above 1.0324

AUD/USD

The advance from .8952 is likely the final leg of a diagonal that will lead to the major top mentioned in the longer term chart. “The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936).” Support has held at the trendline near .9500 (testing it right now). A bullish bias is warranted against .9290 although price ideally remains above .9486.

STRATEGY: Bullish, against .9486, target .9936

NZD/USD

From a price structure point of view, the decline since the March top at .8215 has been choppy and corrective. The drop counts well as a double flat (this is a complex correction). Moreover, the legs of the decline are roughly equal (a common characteristic among corrections). The leg up from .7536 is the closest thing to an impulse that the NZDUSD has shown since the March top. As such, a bullish bias is warranted against .7536 and the target is above .8215. This morning's plummet may be wave C within the A-B-C decline from .7921.

STRATEGY: Bullish, against .7536, target above .8215

DailyFX

Disclaimer

Today's Market Outlook - By Windsor Brokers Ltd

2008-06-05T09:22:00.000-07:00

Today's Market Outlook

EURUSD

Continues reversal from 1.5818, 27 May lower top, to nearly fully retrace 1.5285/1.5818 upleg. 1.5461 low was reached initially, with subsequent bounce being capped by 1.5828/26, ahead of sharp sell-off. Loss of 1.5461 and the recent 1.5410 low, has opened way for fresh weakness that reached 1.5365 today. Correction higher is underway, expected to leave a lower top below 1.5582 for fresh attempt towards 1.5285. Only sustained break above 1.5628 to improve the outlook.

Res: 1.5485, 1.5520, 1.5550, 1.5589
Sup: 1.5450, 1.5410, 1.5385, 1.5365

GBPUSD

Recovery off 1.9364, 14 May low, was capped by 1.9848/50 ahead of reversal. 1.9595 was reached on 02 Jun, ahead of rally to 1.9740 on 03 Jun. This marked a lower top for fresh decline and break below 1.9595 has seen new low at 1.9461, posted today. Near 80% of the 1.9364/1.9850 upleg has so far been retraced. Current bounce seeks a lower high before fresh weakness and potential break below 1.9461 to expose 1.9400/1.9364.

Res: 1.9530, 1.9557, 1.9577, 1.9600
Sup: 1.9452, 1.9440, 1.9400, 1.9364

USDJPY

Remains in uptrend from 95.72, 17 Mar yearly low, with 105.87 high being reached on 29 May. Correction to 103.87 low followed, ahead of renewed strength to 105.56. Subsequent pullback left a higher low at 104.54, ahead of fresh thrust. Today’s clearance of 105.56/87 resistance area and psychological 106.00 level, now seeking for test of 106.60, 38% retracement of 124.14/95.72 downleg, possibly 107.00/40 zone. Downside, 105.30/20 offers initial support, while only loss of 104.54 would weaken the structure.

Res: 106.43, 106.60, 107.00, 107.40
Sup: 105.87, 105.56, 105.20, 105.00

USDCHF

Extended decline from 1.0625, 08 May high, to reach 1.0216 on 23 May, ahead of recovery. Gains reached 1.0523/26 on 29/30 May, before reversing to 1.0274. The rebound through 1.0448 lower top led to today's probe of trendline resistance off 1.0625, near 1.0500, ahead of the latest reversal. A fresh higher low is now sought by 1.0360, with potential break below here to allow deeper correction and delay immediate bulls.

Res: 1.0447, 1.0470, 1.0489, 1.0507
Sup: 1.0360, 1.0325, 1.0300, 1.0274

Windsor Brokers Ltd
http://www.windsorbrokers.biz

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

FX Thoughts for the Day - By Kshitij Consultancy Services

2008-06-05T06:09:00.001-07:00

FX Thoughts for the Day

USD-CHF @ 1.501/05...Watch Resistance at 1.0520

R: 1.0495-0514 / 1.0549
S: 1.0453 / 1.0432-10 / 1.0392-67

Dollar-Swiss rose to once again test the crucial Resistance at 1.0520, but retreated from there. While that Resistance holds, there are at least 50% (possibly 60%) chances of a fall back towards 1.0435 and lower, later in the day.

In case the market manages to rise past 1.0549 (projected Max High for the Day), it may herald further gains towards 1.0628, enroute 1.0707 next week.

GBP-USD @ 1.9486/90...Will it close above 1.95?

R: 1.9564 / 1.9606-15
S: 1.9460-49 / 1.9414 / 1.9392

The Pound dipped to 1.9465 during the day, buy has bounced back a bit from there. It is imperative that it close above 1.95 today in order to prevent a fall towards 1.9365 (earlier Low on 14-May) and possibly 1.9250. If it does manage to close above 1.95, we could see a bounce back up towards 1.96-97 over the next 2-3 days. Such a bounce would mean continuation of the 1.95-99 range that the market has been in over the past few weeks.

The Bank of England has kept rates steady, in line with market expectations.

AUD-USD @ 0.9517/20...Massive Triangle - take a look

R: 0.9550-75 / 0.9600 / 0.9630-50
S: 0.9500-9485 / 0.9460 / 0.9422

If you look at the Daily Line chart (please click on http://www.kshitij.com/graphgallery/audma.shtml) you will see that that the Aussie is tracing a massive ascending triangle, with the base being the Nov-07 to Jan-08 fall. There is immediate Resistance at 0.9650 and immediate Support at 0.9450 now as the market is coming very close to the Apex of the triangle. A breakout is imminent in either the next few days or a couple of weeks. Whichever way it breaks, it could set off a big, long-lasting trend, giving a lot of opportunity to make money.

Kshitij Consultancy Service
http://www.fxthoughts.com

Legal disclaimer and risk disclosure

These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.

Elliott Wave and Fibonacci Predictions: USD/JPY - By Capital Forex Group

2008-06-05T06:05:00.000-07:00

Elliott Wave and Fibonacci Predictions

Hello traders, I am back. I am sorry for being away yesterday, you know, I am student and I am very tired of it in the last few weeks, so I just dint find the time yesterday to update you. But I checked out the charts anyway, especially EUR/USD and it was range bound, so nothing special on the market... Its good to be away on the day like this...

Ok, to be honest, I am away from EUR/USD at the moment, its moving in a very critical level now. Its dancing around 1,5400 level, any break bellow this could bring us down to 1,5200, and that means USD/JPY up to around 108,00.

USD/JPY

We are in impulsive move from yesterday after huge wave (II) with 104,52 low. Right now we are 250 pips higher and you know what, I still see around 50 pips free space for todays prices. In the market we are always looking for supports and resistances, and if we also include EW counting to these points, then I believe that there are a lot of traders out there who would trade this possible move from 105,91 up to the end of the blue wave iii. Well, in our case is this support low of pink wave iv, so we could see move down to this level, where price could bounce to new daily highs. I will watch this level very closely, so if there will be any sign of this support to be alive, then I will jump in with 20 pips of stop loss... You should also pay attention on Unemployment Claims report, any good news should push prices higher...

Traders see you tomorrow. Grega!

Gregor Horvat
chief executive officer
forex analyst
Capital Forex Group LLC

Technical Analysis Daily: USD/JPY - By iFOREX.bg

2008-06-05T06:01:00.000-07:00

Technical Analysis Daily

USD/JPY 106.10 - 5 June

USD/JPY Open 105.46 High 106.20 Low 104.57 Close 105.18

The US Dollar continued climbing against the Japanese Yen today, from yesterday's bottom at 104.57 to today's top 106.22, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance further up is expected at 107.00, the break of which would open potential climb towards 107.80. In downward direction next support for today is expected at 103.90, followed by 103.00.

Technical resistance levels: 106.20 107.00 107.80
Technical support levels: 104.55 103.90 103.00

Trading range: 106.00 - 106.60
Trend: Upward
Buy at 106.10 SL 105.80 TP 106.50

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Daily Technical Strategist - By FXTechstrategy

2008-06-05T05:57:00.000-07:00

Daily Technical Strategist

Today's Focus: EURUSD & GBPUSD

EURUSD: Continues To Drift Lower As It Targets The 1.5283 Level
GBPUSD: GBP Remains On The Offensive, Keeps Attention On The 1.9362/35 Zone

EURUSD

EUR maintained its current weakness Wednesday trading and closing lower at 1.5434.Risks continue to point to the downside as evidenced by its short term bearishness and declining daily studies suggesting a move towards the next downside objective at its May 08'08 low at 1.5283 is likely where a clean break will put the pair on the part to further lower prices towards its .50 Ret (1.4309-1.6018 high) at 1.5164.Conversely,if a halt in the present weakness occurs then a recovery could be seen targeting the 1.5510 level, its April 03'08 low at first ahead of the 1.5817 high, its May 27'08 high and then the 1.5895/I 5912 area, its Mar 31'08 high/April 10'08 high. Above there will pave the way for a run at its YTD high at 1.6018.On the whole, short term downside pressure continues to weigh on the pair leaving the 1.5283 level as the next key support.

Support	Comments
1.5360/41	.382 Fib Ret/Mar 24'08 low/May 02'08
1.5283	May 08'08 low
1.5164	.50 Ret (1.4309-1.6018 high)
Resistance	Comments
1.5510	April 03'08 low
1.5593	May 06'08 high
1.5817	high May 27'08 high
1.5895/I 5912	Mar 31'08 high/April 10'08 High

GBPUSD

Having broken and closed lower into its earlier invalidated falling channel,GBP followed through on those losses in early morning trading today trading to as low as 1.9474.While this weakness persists, the 1.9360/35 area, its 2008 lows will be targeted with a break through there envisaged. If this materializes, the 1.9180 level, representing its Mar'07 low will come in as the next support. The daily stochastics and RSI are negative suggesting further weakness. On the upside, initial resistance lies at the 1.9598 level, its April 15'08 before the 1.9674/53 level, its April 25'08 low/Aug 17'07 high followed by the 1.9727/19 zone, its Mar 05'08/April 01'08 lows. Other targets are located at the 1.9850 level, its May 23'08 high and the 1.9963/ 2.0026 levels, its Feb 27'08/April 21 & 28'08 highs. All in all, GBP's current weakness remains consistent with its bearish medium term structure.

Support	Comments
1.9360/35	2008 lows.
1.9180	Mar'07 Low
1.9045	1.272 Fib Ext
Resistance	Comments
1.9598	April 15'08 low
1.9674/53	April 25'08 low/Aug 17'07 high
1.9727/19	Mar 05'08/April 01'08 lows
1.9963/2.0026	Feb 27'08/April 21 & 28'08 highs

Mohammed Isah
Market Analyst
www.fxtechstrategy.com

Forex Technical Analytics - By FOREX Ltd

2008-06-05T05:55:00.001-07:00

Forex Technical Analytics

CHF

The pre-planned buyers' positions from the key support range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the activity fall of both parties does not give clearness to a choice of planning priorities for today. Hence and because of presumption about possible range movement of the rate we assume a possibility of pair return to supports 1.0410/30, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers positions on condition of formation of topping signals the targets will be 1.0470/90, 1.0510/30 and/or further breakout variant up to 1.0580/1.0600, 1.0620/40. An alternative for sales will be below 1.0370 with the targets 1.0310/30, 1.0260/80.

GBP

The assumed test of the key resistance range for realization of the pre-planned short positions has not been confirmed and further realization of breakout variant for short-term positions with the features of oversold factor because of chosen strategy is a negative moment for further preservation of these opened positions. At present taking into account the existent picture as uncertain we have a possibility of range movement of the rate with further priority of bearish planning for today. Hence and to reduce trading risks we assume a possibility of pair return to resistance range 1.9560/80, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.9500/20, 1.9460/80 and/or further breakout variant up to 1.9380/1.9400, 1.9340/60. An alternative for buyers will be above 1.9640 with the targets 1.9680/1.9700, 1.9740/60.

JPY

The pre-planned buyers' positions from the key support range have been realized with overlap of minimal assumed target. OsMA trend indicator having marked the activity parity of both parties with the feature of oversold factor considerably reduces the perspective of further rate rise but according to chosen strategy it gives grounds to presume a possibility of range movement of the rate in a short-term future. Taking into account this fact and preserving the priority of buyers' planning we assume a possibility of pair return to supports 104.90/105.10, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 105.50/70, 106.00/20 and/or further breakout variant up to 106.60/80, 107.00/20.

EUR

The assumed test of the key resistance range for realization of the pre-planned short positions has not been confirmed and activity fall of both parties revealed by OsMA indicator as a result of previous trading day gives grounds to preserve earlier composed trading plans almost without changes. So we assume a possibility of pair return to the nearest resistance range 1.5500/20, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For sales on condition of formation of topping signals the targets will be 1.5420/40, 1.5360/80 and/or further breakout variant up to 1.5300/20, 1.5260/80. An alternative for buyers will be above 1.5560 with the targets 1.5600/20, 1.5640/60.

FOREX Ltd
www.forexltd.co.uk

Currency Technical Report - By FX Greece

2008-06-05T05:46:00.001-07:00

Currency Technical Report

EUR/USD

Resistance : 1,5450-60/ 1,5485/ 1,5510-20/ 1,5560
Support : 1,5410/ 1,5370-890/ 1,5340-50/ 1,5320

Comment : Euro keeps its downtrend making new lows during Asia Session, breaking the area of 1.5400 (low 1.5385). Very important news releases are expected today and high volatility is possible.

The targets we had set were in the area of 1.5350-00 and after yesterday's lows, they are being reached. We remain cautious regarding the move resumption to lower levels than the 1.5330-50 area, and we wait for reversal signs.

First important support is found at 1.5340-50 area, followed by the area of 1.5530-50, in the ranges of the downward channel.

Summarizing, we could say that the technical outlook for the euro indicates an oversold situation and combined with the reach of important support levels and the formation of a base, we are looking for reversal signs.

TRADING EUR/USD : Our strategy yesterday proved accurate . Today we should be cautious due to important news releases. We will wait for buy opportunities that would emerge at any move to 1.5350 or 1.5300 area, A move above 1.5490 would be a sign of reversal and it may be followed with by positions, having as first target the area of 1,5540-50...

GBP/USD

Resistance : 1,9530/ 1,9560/ 1,9585/ 1,9610/ 1,9630
Support : 1,9480/ 1,9450/ 1,9430/ 1,9380-00

Comment : The pound is keeping its downtrend according to our basic scenario. First targets in the area of 1.9500-10 were achieved and we wait for the move resumption to the area of 1.9400, where our basic targets are set.

First intraday resistance is found in the area of 1.9550-60, followed by more important at 1.9630-40 area.

Support emerges at 1.9450 area, followed by more important at 1.9380-00, which is out basic target...

TRADING GBP/USD : Our strategy yesterday was accurate and targets were achieved. High volatility is expected today duo to the interest rate announcements, and new sell positions would emerge at 1.9580-00 area, adding more at 1.9630 with stops above 1.9665... Small buy positions could be tried from the area of 1.9480-00, with the area of 1.9550 as target...

USD/JPY

USD/CHF

FX Greece

DISCLAIMER

The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
We reserve the right to change the terms and the characteristics of the analysis.
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Forex Technical Analysis - By DeltaStock Inc.

2008-06-05T05:41:00.001-07:00

Forex Technical Analysis

EUR/USD

Current level-1.5437

The pair has set a local top at 1.5818 completing the rise from 1.5283. Technical indicators are neutral. The 50- day SMA is currently projected at 1.5663.

As expected, the pair reached an intraday high at 1.5482, finalizing the consolidation above 1.5411 and renewed the downtrend, aiming at 1.5283. Allow some choppy trading below 1.5482 before ECB releases its interest rate decision, today at 07:45 NYT.

Today's strategy: Stand aside.

Resistance		Support
intraday	intraweek	intraday	intraweek
1.5491	1.5914	1.5383	1.5282
1.5637	1.60-sentiment	1.5343	1.50+

USD/JPY

Current level - 105.92

The pair is in a corrective uptrend from the 95.75 short-term bottom. Technical indicators are rising slowly and the upmove is dynamically supported at 102.36. The inner structure of the rise is by all means a corrective one, so from a larger point of view the overall downtrend from 124.14 is not over yet.

As expected the pair bottomed at 104.56, renewing the uptrend towards 106.68. Be careful around the above mentioned level, as it can provoke a reversal based on the resistance coming from the higher frames.

Today' strategy: Cash yesterday's longs at 106.28 and stand aside.

Resistance		Support
intraday	intraweek	intraday	intraweek
106.28	106.68	104.71	102.89
106.68	108.30	103.41	100.82

GBP/USD

Current level- 1.9513

The downtrend from the 2.0397 local top has reached a low at 1.9374. Technical indicators are reversed on the 4 h. chart and the trading is situated below the 50- and 200-day SMA, currently projected at 1.9819 and 2.0044.

Still in the corrective phase below the important resistance at 1.9851 with a clear downside bias on the lower time-frames. Our reversal point at 1.9709 worked out pretty well and the pair is on the road to reach the swing target at 1.9551. We will keep our bullish view on the 4 h. chart, aiming at 1.9851 and 2.0225 later on, so stay tuned for a fast advance beyond 1.9578 today, that will set the beginning of the next leg upwards.

Today's strategy : Wait for an upward trend pattern.

Resistance		Support
intraday	intraweek	intraday	intraweek
1.9678	1.9851	1.9491	1.9415
1.9851	2.0225	1.9463	1.9363

DeltaStock Inc. - Online Forex & Securities Broker
www.deltastock.com

Forex Depth Analysis: EUR/JPY - By Finotec Group

2008-06-05T05:32:00.000-07:00

Forex Depth Analysis: EUR/JPY

Will JPY continue to trade in a bearish direction?

The dollar hit a three-month high against the yen on Thursday, supported by comments from Federal Reserve Chief Ben Bernanke who emphasized inflation concerns the previous day.

The comments coupled with stronger than expected U.S. services and jobs data have helped bolster the currency and helped lift risk appetite which undermines the yen, a popular destination for the carry trade.

The dollar rose as high as 105.95 yen, its highest since late February. Traders in London said that the pair pushed higher, helped by demand from a U.S. bank, while market participants took a stab at a knock-out option at 106 yen.

The euro rose 0.6 percent to 163.50 yen while the yen also fell to a seven-month low of 101.3 yen against the Australian dollar.

The following technical analysis gives us a detailed lookout on what is expected to happen to EUR/JPY.

The buying point is at 163.35; based on a clear uptrend.

Fibonacci 161.8% is the take profit at 164.06
Fibonacci 23.6% is the stop loss at 162.33

The selling point is at 162.00; Based on a break of a strong support level.

Previous support is the take profit at 161.35
Fibonacci 38.2% is the stop loss at 162.70

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the crossing of MACD line to the signal line with a break of equilibrium level. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction.

The ROC oscillator is very important to understand the demand in the market and as we see on the graph it breaks the zero level upwards. The Stochastic oscillator breaks 20% line and is pointing upwards.

* The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given text

Finotec Group Inc.
http://www.finotec.com/

Technical Analysis Daily: GBP/USD - By iFOREX.bg

2008-06-05T05:29:00.000-07:00

Technical Analysis Daily: GBP/USD

GBP/USD 1.9501

GBP/USD Open 1.9818 High 1.9653 Low 1.9492 Close 1.9549

The British Pound continued its short term descending against the US Dollar from yesterday's top at 1.9638, to today's bottom at 1.9492, which are the first resistance and support levels respectively for the currency couple today. GBP/USD overcame 1.9600, which is 50% Fibonacci correction of the climb from 1.9370 to 1.9840. If the negative sentiment continues, next support is expected at 1.9400, followed by 1.9320. In upward direction next resistance level today is expected at 1.9730, followed by 1.9840.

Technical resistance levels: 1.9640 1.9730 1.9840
Technical support levels: 1.9490 1.9400 1.9320

Trading range: 1.9515 - 1.9450

Trend: Downward

Sell at 1.9501 SL 1.9531 TP 1.9461

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Pro FX Commentary: EURUSD - By Global Forex Trading

2008-06-05T01:04:00.000-07:00

Pro FX Commentary: EURUSD

Price: 1.5390

Resistance:	1.5425	1.5460	1.5490	1.5531
Support:	1.5383	1.5361	1.5328	1.5283

Bias:

The 1.5361-85 area provides support while gains will need a break back above 1.5500 and 1.5627

Daily Bullish:	Extreme tight range trading didn't really clears up the picture too well but overall we've not seen a break below the 1.5361-85 support identified yesterday. Thus morning has seen a dip to 1.5383 and if this holds then we should see a move back above the 1.5425 pivot area for a recovery back to 1.5482-00 again but beyond that we need to be cautious. Next major resistance would be the old 1.5627 corrective high. Recovery from 1.5361 would imply gains to 1.5560.
MT Bullish:	5th June: We are hitting key supports now between 1.5361-85 but where we see the low affects how far a recovery can be seen. Above 1.5600-27 would be needed to suggest potential for a recovery towards 1.5720-60.
Daily Bearish:	This morning's losses have hit the 1.5383 support and even if it breaks I still see support at 1.5361 and each of these two supports have potential for a recovery to 1.5500 at least. Thus only look for extension lower on a break below 1.5360 and if seen it should trigger follow-through to 1.5328 minimum and probably to the 1.5255-83 area at least.
MT Bearish:	5th June: We are now testing critical supports but only below 1.5360 suggests a more direct attack back at the 1.5283 low and possibly even further to 1.5188 while a larger target is at 1.5082.

ELLIOTT WAVE COMMENTS

4th June

We have seen the decline to the 76.4% retracement at 1.5409 perfectly and this now provides the next test as to whether we are seeing a triangle within a larger consolidation or whether we could see a move all the way down to 1.5283 again in a possible flat correction. I can't even rule out loses beyond should the 1.5817 high have been Wave (b).

In any event, at this point I feel an internal 261.8% projection in a minor Wave iii rests at 1.5361 and this should be the most we see today. Before 1.5361 is a small 161.8% projection in a minor Wave c at 1.5385 so this 1.5361-85 area appears to be important.

Breach would be bearish for 1.5328 and 1.5283.

Ian Copsey
Global Forex Trading
http://www.gftforex.com

British Pound Crosses: Watch For Bullish Reversals - By DailyFX

2008-06-05T00:56:00.000-07:00

British Pound Crosses: Watch For Bullish Reversals

GBPCHF

The GBPCHF remains entrenched in a 4th wave correction that will probably complete as a triangle. The rally from 1.9421 to 2.0963 is in 3 waves and would be wave A of the triangle. Wave B is underway now and will likely end near 1.97/99. In summary, expect the GBPCHF to range for the next few months. Beware though that we do expect a new low (below 1.9421) in a 5th wave (which could happen without a triangle unfolding).

GBPCAD

We view the GBPCAD rally from 1.9011 to 2.0906 as the first wave (probably an A wave) in a bull cycle and the drop from 2.0906 as the second wave (probably a B wave) in that bull cycle. Whether the cycle proves to be 3 or 5 waves does not matter at this point. Both scenarios call for a rally through 2.0906 in the coming weeks and months. This bullish outlook remains intact as long as price is above 1.9287.

GBPAUD

The bearish bias remains due to the resistance line drawn off of the 8/17/07, 12/17/07, and 3/20/08 highs. Potential support is at a line that is extended from the 10/29/07 and 2/28/08 lows; at 2.0010 today. This level is supported by the psychological 2.00 figure. We wrote last wek that “the rally from 2.0318 is in 3 waves, so another low (below 2.0318) is likely before potential for a major low to form exists.” We got that low today at 2.0294 so watch for a reversal.

GBPNZD

We maintain that the GBPNZD is setting up for a major bullish reversal. The February low made a double bottom with the December 2006 low just above 2.41. Since then, the GBPNZD has trading in a choppy range. Still, as long as price makes higher lows, then potential for a much larger bull move exists.

SCHEDULE

Monday: EURGBP, EURCHF, EURCAD, EURAUD, EURNZD
Tuesday: EURJPY, GBPJPY, CHFJPY, CADJPY, AUDJPY, NZDJPY
Wednesday: GBPCHF, GBPCAD, GBPAUD, GBPNZD
Thursday: AUDCHF, AUDCAD, AUDNZD

DailyFX

Disclaimer

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex

2008-06-05T00:45:00.001-07:00

EURUSD, AUDUSD, EURCHF Daily Outlook

EURUSD

The dollar holds firm across the board on yesterday and minor Euro rallies of 30-50 points have met fast offers so it failed to approach the more decent selling regions above the 1.55 mark. Bearish structure of short-term studies is encouraging further decline towards the mid-term support zone at 1.5345 formed by an upward trendline then the fib support at 1.5230. The 38.2% retracement of the 1.4439-1.6019 move which stands at 1.5415 still holds and a potential break may accelerate a fall towards the 1.5285 interim support. On the upside, minor resistance emerges at 1.5485 followed by a downward trendline currently seen into the 1.5530 zone. Key short-term resistance is seen at 1.5615. A retracement above 1.5450 is likely before resuming the downtrend and put some pressure on the current intra-day low at 1.5383. Current quote is 1.5441 @06:37 GMT

Support levels: 1.5400-10, 1.5380, 1.5360 and 1.5285.
Resistance levels: 1.5460, 1.5490, 1.5550 and 1.5600.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish

AUDUSD

The Aussie dollar has shown a rebound after catching bids into the 0.9500 region, testing resistance at 0.9630 where a downward trendline formed by the previous daily highs is seen. Support into 0.9470-0.9500 should limit potential losses as Aussie's momentum is likely to prolong during the upcoming trading sessions while focus is on record high zones above 0.9650. Short term momentum is losing strength since the pair failed to advanced higher past 0.9650 for 2 weeks now. Current quote is 0.9548 @06:37 GMT

Support levels: 0.9513, 0.9500, 0.9475 and 0.9425.
Resistance levels: 0.9555, 0.9600, 0.9620 0.9650 and 0.9700.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : slightly bearish

EURCHF

Current recovery may extend to 1.6170 where short term resistance is formed. Above 1.6200 will cancel downtrend. Support is seen at 1.6075 and 1.6035. Current quote is 1.6114 @06:37 GMT

Support levels: 1.6075, 1.6035, 1.5995 and 1.5955.
Resistance levels: 1.6140, 1.6170, 1.6200 and 1.6230.

E-Forex

Legal disclaimer and risk disclosure

Technical Analysis Daily: EUR/USD - By iFOREX.bg

2008-06-05T00:29:00.001-07:00

Technical Analysis Daily: EUR/USD

EUR/USD 1.5406

EUR/USD Open 1.5548 High 1.5477 Low 1.5385 Close 1.5431

The Euro continued descending insignificantly yesterday against the US Dollar from 1.5477 to 1.5385, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5300, followed by 1.5230. In upward direction next resistance for today is expected at 1.5550, the break of which would lead to next target 1.5625.

Technical resistance levels: 1.5480 1.5550 1.5625
Technical support levels: 1.5385 1.5300 1.5230

Trading range: 1.5420 - 1.5355

Trend: Downward

Sell at 1.5406 SL 1.5436 TP 1.5366

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Technical Analysis for Crosses - By Crown Forex

2008-06-05T00:26:00.001-07:00

Technical Analysis for Crosses

GBP/JPY

The Pound declined slightly against the yen yesterday yet the pair managed to close above the 38.2% correctional level at 205.68 and is trading around this level now, the pair must consolidate for a while before start rising noticeably, since the momentum indicators are showing the pair needs a slight correction on intraday basis in order to successfully breach the 206.15 resistance level which would lead the pair up to the 207.35 at least, while the point at 204.53 offers strong demand for the pair should the 205.68 be breached.

Support: 205.68, 205.18, 204.53, 203.99, 203.41
Resistance: 206.15, 206.57, 206.96, 205.57, 208.03

EUR/JPY

The Euro managed to incline against the Yen as the pair breached the 38.2% correctional level at 162.26 and is targeting the 163.75 level, supported by an inverted Head and Shoulders model over the four hours chart the pair was able to acquire some strength to indulge in a bullish wave, yet the momentum indicators are showing the pair is now trading within an overbought area and is in need of a correction, yet this correction shouldn't breach the 162.11 which is the main support for the medium term upside channel.

Support: 162.67, 162.24, 161.88, 161.55, 161.14
Resistance: 163.03, 163.32, 163.75, 164.08, 164.44

EUR/GBP

The Euro gained back against the Pound yesterday but the pair couldn't breach the resistance at 0.7918 so far though it's very likely that will happen today supported by upside momentum and upside signals from the direction indicators, the pair however must breach the 0.7931 to confirm further upside waves that might target the 0.8000s level, while if the pair fails to breach this level it could go all the way down to the support at 0.7875 which offers good demand for the pair.

Support: 0.7904, 0.7890, 0.7875, 0.7860, 0.7844
Resistance: 0.7918, 0.7931, 0.7944, 0.7958, 0.7973

Crown Forex

Technical Analysis for Major Currencies - By Crown Forex

2008-06-05T00:20:00.000-07:00

Technical Analysis for Major Currencies

EURO

The European currency is still in a neutral territory waiting for either the 1.5380 or the 1.5535 to get breached and define a trend for the currency, while technical indicators are also giving mixed up signals the short term to intermediate trend remains vague, waiting for confirmation to initiate any new targets, yet for today and as the currency is on a major support at 1.5380 and it is way over sold we can say there is a potential for a slight upside movement.

The trading range is among the key resistance level at 1.5530 and the key support level at 1.5380.

The general trend is to the upside as far as 1.4260 remains intact; targets are set at 1.6080 and 1.6360.

Support: 1.5380, 1.5355, 1.5324, 1.5284, 1.5248
Resistance: 1.5420, 1.5463, 1.5489, 1.5520, 1.5535

Recommendation: Buy Euro above 1.5380 with a target at 1.5460 and a stop loss below 1.5350

GBP

The British pound eventually surrendered and got into the descending channel again will probably start declining day after day from now, yet the currency is way oversold to continue its downside movement so we expected an up wave correction that might not extend above 1.9600 the upper limit of the descending channel, and if it remained solid maybe we will see some consolidation around that area, with some momentum gathering preparing for a downside movement for the pair.

The trading range is among the key resistance level at 1.9620 and the key support level at 1.9360

The general trend is to the downside as far as 2.0200 remains intact; targets are set at 1.9230 and 1.8700.

Support: 1.9508, 1.9490, 1.9445, 1.9420, 1.9387
Resistance: 1.9535, 1.9555, 1.9582, 1.9600, 1.9622

Recommendation: Buy British Pound above 1.9510 with a target at 1.9600 and a stop loss below 1.9475.

JPY

The dollar against the Japanese yen seems to be preparing for an upside move today as all technical indicators say, yet we can not and as we mentioned earlier initiate any new targets until the 105.50-85 gets breached and from there we will start setting new targets for the pair maybe even on the medium to longer term trends, the expected movement today is for the upside yet no recommendations seems to fit today.

The trading range for today is among the key resistance level at 105.80 and the key support level at 103.90

The general trend is to the downside as far as 109.00 remains intact; targets are set at 92.40 and 90.00.

Support: 105.21, 104.90, 104.72, 104.50, 104.23
Resistance: 105.50, 105.72, 105.86, 106.20, 106.45

CHF

The dollar against the Swiss frank is still in its neutral territory pointing lower as it remains below 1.0450 stuck in a narrow range just as any other major currency and waiting for the right push to jump of the edge, as far as the level 1.0450 is intact we can't turn our views that the downside direction is still the best shot, with targets at 1.0240.

The trading range is among the key resistance level at 1.0460 and the key support level at 1.0220.

The general trend is to the downside as far as 1.1000 remains intact; targets are set at 0.9670 and 0.9370.

Support: 1.0450, 1.0460, 1.0489, 10520, 1.0555
Resistance: 1.0420, 1.0390, 1.0368, 1.0329, 1.0285

Recommendation: Sell USDCHF below 1.0450 with a target at 1.0390 and a stop loss above 1.0470.

CAD

The pair has turn neutral above the 1.0120 consolidating now for a next movement to come, yet the pair reached to an over sold area that will force it to drop today at least to the level 1.0120 today and if breached we will start thinking of downside targets again for the pair.

The trading range is among the key resistance level at 1.0120 and the key support level at 0.9900.

The general trend is to the downside as far as 1.0700 remains intact; targets are set at 0.9030 and 0.8840.

Support: 1.0120, 1.0111, 1.0092, 1.0069, 1.0034
Resistance: 1.0160, 1.0189, 1.0220, 1.0235, 1.0264

Crown Forex

Technical Analysis Daily: USD/JPY - By iFOREX.bg

2008-06-04T08:08:00.001-07:00

Technical Analysis Daily

USD/JPY 104.61 - 4 June

USD/JPY Open 105.46 High 105.53 Low 103.91 Close 105.10

The US Dollar recovered yesterday against the Japanese Yen after the sharp drop, and rose from 103.91 to 105.53, which are the first support and resistance levels respectively for the currency couple today. If the negative trend deepens, next support further down is expected at 103.00, the break of which would open potential drop towards 102.20. First resistance upwards is yesterday's top at 105.50, followed by 106.30, and 107.20.

Technical resistance levels: 105.50 106.30 107.20
Technical support levels: 103.90 103.00 102.20

Trading range: 104.50 - 105.15
Trend: Upward
Sell at 104.61 SL 104.31 TP 105.01

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

FX Thoughts for the Day - By Kshitij Consultancy Services

2008-06-04T08:05:00.000-07:00

FX Thoughts for the Day

USD-CHF @ 1.0384/88...Buy dip

R: 1.0420 / 1.0450 / 1.0490
S: 1.0340 / 1.0290 / 1.0216

As suggested in the morning, the market appears to be ranged between 1.0320-0520 for the next few days. This range may be expanded to 1.0290-0520 to allow for some intra-day spikes and volatility. Below 1.0290 on the downside, the major Support to watch would be 1.0216, the low seen on 23-May.

Buying on a dip to 1.0320 may be considered. Note that the projected Max Low for the day comes in at 1.0309.

GBP-USD @ 1.9555/59...Bearish while below 1.9611

R: 1.9511-35 / 1.9728
S: 1.9535 / 1.9480

The Pound has fallen below 1.9600 today and may run into Sellers again on a retracement to the breakdown level of 1.9611. If and while the Pound remains below 1.9635, a further dip towards 1.9535 and 1.9480 is possible.

On the other hand, in case of an unanticipated rise past 1.9640, the Pound may move up to 1.9700-30.

AUD-USD @ 0.9603/07...Can rise towards 0.9650

R: 0.9625 / 0.9657
S: 0.9579 / 0.9525 / 0.9485

Unlike the European currencies and the Yen, the Australian Dollar has seen a strong bounce today after a false dip to 0.9485. In the morning we had suggested a rise to 0.9650 if the Aussie rose past 0.9580. This level may well be tested over the rest of the week.

Kshitij Consultancy Service
http://www.fxthoughts.com

Legal disclaimer and risk disclosure

These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.

US Dollar Spike is a Trap - DailyFX

2008-06-04T08:02:00.000-07:00

US Dollar Spike is a Trap

The US dollar spike does nothing to change to change the bearish bias. As long as EURUSD 1.5283 is intact, our bias is dollar bearish.

EUR/USD

The market threw a curveball yesterday. The EURUSD broke below 1.5461 but the larger bullish bias is still valid as long as price is above 1.5283. The decline from 1.5817 is relabeled as a W-X-Y (complex) correction. The minimum bullish objective is one pip above 1.5817. "Even if a larger more complex correction is unfolding from 1.6018 (such as a flat or a triangle), price is still expected to exceed 1.5817."

STRATEGY: Bullish, against 1.5283, target above 1.5817

USD/JPY

The spike through 105.70 satisfies minimum expectations for wave Z. The short term USDJPY pattern strongly indicates that a top is in place (at least temporarily), so a bearish bias is warranted against 105.86.

STRATEGY: Bearish, against 105.86, target TBD

GBP/USD

Similar to the EURUSD, the GBPUSD broke to multi-day lows yesterday but the larger bullish bias is intact as long as price is above 1.9362. Today’s low is at the confluence of the 78.6% of 1.9362-1.9850 / former resisting trendline (now support). Look for a low near current price.

STRATEGY: Bullish, against 1.9362, target above 1.9850

USD/CHF

STRATEGY: Bearish, against 1.0527, target TBD

USD/CAD

The USDCAD is working higher from the 78.6% of .9710-1.0324 at .9841. The push through .9997 is evidence that a low is in place. Risk can now be moved to .9823. Remember, the minimum objective is above 1.0324. The alternate (in red) is a triangle, so think about taking some longs off of the table near 1.0150/1.02. The rally from .9818 would be wave D of the triangle (to be followed by wave E lower and then a bullish breakout).

STRATEGY: Bullish, against .9967, target above 1.0324

AUD/USD

The AUDUSD is rallying as expected. Risk can be move to .9486. The advance from .8952 is likely the final leg of a diagonal that will lead to the major top mentioned in the longer term chart. "The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936)." Support has held at the trendline near .9500. A bullish bias is warranted against .9290 although price ideally remains above .9500.

STRATEGY: Bullish, against .9486, target .9936

NZD/USD

From a price structure point of view, the decline since the March top at .8215 has been choppy and corrective. The drop counts well as a double flat (this is a complex correction). Moreover, the legs of the decline are roughly equal (a common characteristic among corrections). The leg up from .7536 is the closest thing to an impulse that the NZDUSD has shown since the March top. As such, a bullish bias is warranted against .7536 (ideally price remains above .7767) and the target is above .8215.

STRATEGY: Bullish, against .7536, target above .8215

DailyFX

Disclaimer

Today's Market Outlook - By Windsor Brokers Ltd

2008-06-04T07:54:00.001-07:00

Today's Market Outlook

EURUSD

Extended the correction from 1.5285 to reach 1.5814/18 on 22/27 May, ahead of decline to 1.5461 on 30 May. Recovery attempt from there was capped by 1.5626/28, followed by sharp decline yesterday. 1.5410 low was reached, retracing over 61.8% of the 1.5285/1.5418 ascend. Consolidation is underway, seeking for lower top by 1.5520/50, before bears resume and break below 1.5410 to expose 1.5396/66, possibly 1.5312/1.5285. Only regain of 1.5600/25 will improve the outlook.

Res: 1.5485, 1.5520, 1.5550, 1.5589
Sup: 1.5420, 1.5410, 1.5396, 1.5366

GBPUSD

Recovery off 1.9364, 14 May low, stalled after several attempts at 1.9848/50. Fresh weakness initially reached 1.9595 on 02 Jun, ahead of rally to 1.9740 yesterday. This marked a lower top for fresh decline and loss of 1.9740 triggered fresh losses to 1.9535 today. Consolidation is seen before weakness continues, with 1.9500/1.9452 seen next. To avert immediate downside pressure, 1.9675/90 area need to be regained.

Res: 1.9600, 1.9614, 1.9638, 1.9676
Sup: 1.9535, 1.9500, 1.9480, 1.9452

USDJPY

Remains in uptrend from 95.72, 17 Mar yearly low, with 105.87 high being reached so far on 29 May. Correction to 103.87 low seen yesterday followed, ahead of renewed strength to 105.56. Subsequent pullback left a higher low at 104.54 today, confirming short-term bulls. Fresh gains now attempting towards 105.56, break of which will expose key 105.70/87 levels and clearance there will resume uptrend towards 106.60 next. Only loss of 103.87 would weaken the near-term picture.

Res: 105.35, 105.56, 105.74, 105.87
Sup: 104.54, 104.20, 104.00, 103.87

USDCHF

Declined from 1.0625, 08 May recovery high to reach 1.0216 on 23 May before steadily recovering. Clearance of 1.0355 completed a short-term base, with gains reaching 1.0523/26 on 29/30 May, before reversing. Three-legged decline reached 1.0274 yesterday, ahead of strong rebound. Gains above 1.0386/1.0447 have so far reached 1.0489, with subsequent pullback to 1.0360. Fresh attempt higher is now under way and if 1.0360 confirmed as higher low, scope exists for fresh push towards 1.0489/1.0526. Failure under 1.0360 weakens and opens 1.0325/1.0274 instead.

Res: 1.0447, 1.0470, 1.0489, 1.0507
Sup: 1.0360, 1.0325, 1.0300, 1.0274

Windsor Brokers Ltd
http://www.windsorbrokers.biz

Today's Market Outlook - By Windsor Brokers Ltd

2008-06-04T07:54:00.000-07:00

Today's Market Outlook

EURUSD

Res: 1.5485, 1.5520, 1.5550, 1.5589
Sup: 1.5420, 1.5410, 1.5396, 1.5366

GBPUSD

Res: 1.9600, 1.9614, 1.9638, 1.9676
Sup: 1.9535, 1.9500, 1.9480, 1.9452

USDJPY

Res: 105.35, 105.56, 105.74, 105.87
Sup: 104.54, 104.20, 104.00, 103.87

USDCHF

Res: 1.0447, 1.0470, 1.0489, 1.0507
Sup: 1.0360, 1.0325, 1.0300, 1.0274

Windsor Brokers Ltd
http://www.windsorbrokers.biz

US Dollar Bear Trend Resumes - By DailyFX

2008-06-03T06:01:00.000-07:00

US Dollar Bear Trend Resumes

The EURUSD and GBPUSD are breaking higher from their respective bases that had formed over the past few days. Both pairs are in the early stages of larger bull moves. The USDJPY downtrend has resumed and are preferred count has the pair coming under 95.72 with 1.0586 remaining intact. The only currency that is expected to weaken against the US dollar in the coming days/weeks is the CAD.

EUR/USD

The EURUSD bull scenario is unfolding as expected to this point. "The decline from 1.5664 is nearly equal to the 1.5817-1.5608 decline. Corrections (a-b-c) often sport 2 identical legs. This combined with the possibility that the advance from 1.5283 is a 5 wave rally supports the bullish case." Even if a larger more complex correction is unfolding from 1.6018 (such as a flat or a triangle), price is still expected to exceed 1.5817. Risk can be moved to 1.5486 although price ideally remains above 1.5519.

STRATEGY: Bullish, against 1.5486, target above 1.6018

USD/JPY

The spike through 105.70 satisfies minimum expectations for wave Z. We wrote yesterday that "once we feel that we can confirm a top at 105.86, we will look for a short entry." The short term USDJPY pattern strongly indicates that a top is in place (at least temporarily), so a bearish bias is warranted against 105.86.

STRATEGY: Bearish, against 105.86, target TBD

GBP/USD

We wrote yesterday "there is no confidence lost in the larger count. Today’s low is at what should be strong support from the confluence of the 50% of 1.9364-1.9850 / 5/21 low at 1.9612. Think about positioning long in the 1.9550/1.9600 area, against 1.9364." The GBPUSD rally from 1.9609 is probably a 3rd wave. Minimum expectations are for a push through 1.9850. A bullish bias is warranted against 1.9609.

STRATEGY: Bullish, against 1.9609, target above 1.9850

USD/CHF

We have altered the count somewhat for the USDCHF. There is little doubt that the advance from .9647 is corrective because a triangle separates the two legs. The only question is whether or not the rally from .9647 is a complete 3 wave rally or just the first wave of a larger more complex correction. Regardless, a bearish bias is warranted against 1.0527. Near term resistance is at 1.0385.

STRATEGY: Bearish, against 1.0527, target TBD

USD/CAD

STRATEGY: Bullish, against .9823, target above 1.0324

AUD/USD

The advance from .8952 is likely the final leg of a diagonal that will lead to the major top mentioned in the longer term chart. "The rally from .8952 is wave C of a large 5th wave diagonal that could extend to a measured objective just below 1.00 in coming weeks (.9936)." Support has held at the trendline near .9500. A bullish bias is warranted against .9290 although price ideally remains above .9500.

STRATEGY: Bullish, against .9290, target .9936

NZD/USD

From a price structure point of view, the decline since the March top at .8215 has been choppy and corrective. The drop counts well as a double flat (this is a complex correction). Moreover, the legs of the decline are roughly equal (a common characteristic among corrections). The leg up from .7536 is the closest thing to an impulse that the NZDUSD has shown since the March top. As such, a bullish bias is warranted against .7536 (ideally price remains above .7767) and the target is above .8215.

STRATEGY: Bullish, against .7536, target above .8215

DailyFX

Disclaimer

Elliott Wave and Fibonacci Predictions: EUR/USD - By Capital Forex Group

2008-06-03T05:57:00.000-07:00

Elliott Wave and Fibonacci Predictions

EUR/USD

Hey traders, did you booked profit on EUR/USD or what, I hope you did. My orders have been reached almost to the last the pip, so I exit after 50 pips move, in the wave (c) we could say. However, I didn't go short after this move up, price missed my orders for 16 pips. But I am very calm right know, cause it looks like the bulls are not over yet. After todays new high, I came out with double zigzag that could be in process and if you look at the picture you can see that we are in the wave b correction of last zigzag, (in our case wave Y). So maybe we have another chance to make some pips in the last wave of double zigzag, after wave b complete. I am targeting on wave b to find support around previous red wave iii or iv. In this zone we also have 50% and 61,8% retricement of wave (a). I will wait on trend to change the direction after the support, and then will try to catch the right moment and jump in with half of the positions and with my stop line below 1,5519. I am targeting to get involved some where around 1,5560. I am also watching the stochastic on 15 minute chart, for possible oversold move...I am targeting up to 1,5640 - 1,5660, where I will start to look for possible shorts.

Traders, make your money, and don't loss it because of your stop loss! Don't trade with out it!! See you soon, Grega.

Gregor Horvat
chief executive officer
forex analyst
Capital Forex Group LLC

Technical Analysis Daily: USD/JPY - By iFOREX.bg

2008-06-03T05:53:00.000-07:00

Technical Analysis Daily

USD/JPY 104.46 - 3 June

USD/JPY Open 105.46 High 105.50 Low 103.90 Close 104.38

The US Dollar deepened its downward trend today against the Japanese Yen, reaching 103.90, which is are the first support level for the currency couple today, and also 61.5% correction of the descent 108.50 - 103.10. If the negative trend deepens, next support further down is expected at 103.00, the break of which would open potential drop towards 102.20. First resistance upwards is yesterday's top at 105.50, followed by 106.30, and 107.20.

Technical resistance levels: 105.50 106.30 107.20
Technical support levels: 103.90 103.00 102.20

Trading range: 104.60 - 103.95
Trend: Downward
Sell at 104.46 SL 104.76 TP 104.06

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Daily Technical Strategist - By FXTechstrategy

2008-06-03T05:50:00.000-07:00

Daily Technical Strategist

Today's Focus: EURUSD & GBPUSD

EURUSD: Short Term Risk Remains To The Downside.
GBPUSD: GBP Remains In Unwinding Mode

EURUSD

EUR was seen recovering from its decline off the 1.5818 high in early trading today. While prices continue to trade below the 1.5817 level the odds of a resumption of its short term weakness remains exposing the 1.5510 level, its April 03'08 low ahead of the 1.5360/41 area, its May 02'08/Mar 24'08 lows/.382 Ret (1.4438-1.6018 rally) with a loss of there if seen driving prices lower towards its May 08'08 low at 1.5283.Below the latter will aim at its .50 Ret (1.4309-1.6018 high) at 1.5164.Daily stochastics remain supportive of this view. On the upside, to recapture its YTD high at 1.6018,EUR requires a decisive break back above key resistance at the 1.5817 high, its May 27'08 high and the 1.5895/I 5912 area, its Mar 31'08 high/April 10'08 high. On the whole, further weakness in line with its short term bearish can not be ruled while trading and holding below the 1.5817.

Support	Comments
1.5510	April 03'08 low
1.5360/41	.382 Fib Ret/Mar 24'08 low/May 02'08
1.5164	.50 Ret (1.4309-1.6018 high)
Resistance	Comment
1.5593	May 06'08 high
1.5710	April 18'08 low
1.5895/1.5912	Mar 31'08 high/2008 Peak
1.6018	YTD High

GBPUSD

After hesitating for a few days following its recovery off the 1.9362 low through its daily falling channel, GBP turned sharply lower on Monday closing the session at 1.9647, above the mentioned invalidated channel. While the unwinding of overbought condition remains on course and prices hold above the broken channel, the pair should resume that recovery but a failure leading to a break back into the channel will leave it targeting the 1.9598 level, its April 15'08 low initially with a loss of there extending the decline towards the 1.9360/35 area, its 2008 lows and possibly beyond. Its medium term bearish outlook and the daily studies which are pointing lower are supportive of this scenario.Conversely,a return above the 1.9727/19 zone, its Mar 05'08/April 01'08 lows followed with a close above the 1.9848 level, its May 22'08 high will pave the way for a run at the 1.9963/ 2.0026 levels, its Feb 27'08/April 21 & 28'08 highs and later the 2.0191 level, its Mar 27'08 high. All in all, as its recent recovery is corrective of its medium term bearish structure, further downside weakness remains a possibility.

Support	Comments
1.9674/53	April 25'08 low/Aug 17'07 high
1.9598	April 15'08 low
1.9360/35	2008 lows.
Resistance	Comments
1.9727/19	Mar 05'08/April 01'08 lows
1.9963/2026	Feb 27'08/April 21 & 28'08 highs
2.0191	Mar 27'08 high
2.0396	Mar 14'08

Mohammed Isah
Market Analyst
www.fxtechstrategy.com

Today's Market Outlook - By Windsor Brokers Ltd

2008-06-03T05:47:00.001-07:00

Today's Market Outlook

EURUSD

Gains from 1.5285, 08 May low were capped by 1.5814/18, 22/27 May highs. Reversal from there reached 1.5461 on 30 May, marking over 61.8% retracement of the 1.5285/1.5818 upleg. Bounce higher was followed by consolidation phase above 1.5487/1.5520 support, with the latest push higher having cleared 1.5607 resistance and extending to 1.5628 so far. This averts immediate fears of fresh slide below 1.5461 and turns focus towards 1.5660/67 instead.

Res: 1.5640, 1.5660, 1.5667, 1.5695
Sup: 1.5589, 1.5569, 1.5514, 1.5486

GBPUSD

Retraced over 61.8% of the 2.0024/1.9361 decline, as bounce off 1.9361 reached 1.9848/49 highs on 22/23 May. Choppy action with a slight downside bias was then seen, reaching 1.9672/83 lows on 29/30 May before bouncing to 1.9823. Reversal from there cleared 1.9734/30 supports, completing a short-term top, with 1.9595 being reached so far. Correction higher initially reached 1.9678, interrupted by pullback to 1.9610 today. Fresh strength emerged from there, with lower top sought for deeper retreat below 1.9595.

Res: 1.9687, 1.9708, 1.9745, 1.9785
Sup: 1.9610, 1.9595, 1.9585, 1.9554

USDJPY

Bounce from 102.73, 22 May higher low, has exceeded previous 02 May high at 105.70, reaching 105.87 on 29 May. Reversal from there reached 104.02 yesterday, with subsequent correction higher leaving a lower top at 104.69. Fresh decline tested 103.87, near 61.8% of 102.73/105.87 ascend, ahead of bounce. Upside clearance of 104.69 is required to resume gains towards 105.50/87, otherwise, risk exists for fresh attempt lower and below 103.87 to open 103.45 next.

Res: 104.69, 104.85, 105.00, 105.24
Sup: 103.87, 103.70, 103.45, 103.27

USDCHF

Extended losses from 1.0625, 08 May recovery high to reach 1.0216 on 23 May before steadily recovering. Clearance of 1.0355 completed a short-term base, with gains reaching 1.0523/26 on 29/30 May, before reversing. 1.0325 low was reached yesterday, ahead of a correction to 1.0386. Fresh setback is now under way, targeting 1.0274/60, possibly 1.0224/15 on a break.

Res: 1.0365, 1.0390, 1.0407, 1.0425
Sup: 1.0274, 1.0260, 1.0224, 1.0215

Windsor Brokers Ltd
http://www.windsorbrokers.biz

Daily Forex Analysis - By FOREXYARD

2008-06-03T03:15:00.001-07:00

Daily Forex Analysis

Headlines

USD EUR JPY Cheif's on Tap

Market Trend

	EUR/USD	GBP/USD	USD/JPY	USD/CHF	AUD/USD	EUR/GBP
Daily Trend
Weekly Trend
Resistance	1.5590	1.9730	105.50	1.0480	0.9660	0.7960
	1.5560	1.9700	105.20	1.0450	0.9630	0.7930
	1.5570	1.9670	104.90	1.0420	0.9600	0.7900
Support	1.5500	1.9600	104.20	1.0340	0.9530	0.7830
	1.5470	1.9570	103.90	1.0310	0.9500	0.7800
	1.5440	1.9540	103.60	1.0290	0.9470	0.7770

Economic News

USD

Yesterday the greenback experimented with high volatility as it opened the trading day with a bullish trend against the Euro after the release of the ISM Manufacturing Index saw a positive improvement of 49.6 in May. The Manufacturing indices sent the EUR/USD pair down to as low as 1.5487 from 1.5513. However the USD rally didn't last much longer as several hours later the Euro experienced some relief and eventually saw full recovery from it losses against the greenback. The EUR/USD hit a session high of 1.5590 when rating agency Standard & Poor's downgraded the credit ratings of three of the fours biggest securities firms in the US sparking fears of consumer bankruptcies. Also released yesterday, Construction Spending in the United States fell 0.4% in April, following a decline of 0.6% for March as reports showed from the U.S. Department of Commerce. For manufacturers the high prices and rising costs are having great impact on production, the only thing which is balancing the manufacturing numbers out is the weakness of the USD which made exports cheaper for overseas buyers by 2.8% in the first quarter, driving more business into the economy.

Today, the highlight of the US news calendar will be a speech by Federal Reserve Chairman Ben Bernanke. Bernanke will address the audience at the International Monetary Conference in Barcelona and should give some hints as to any news regarding possible interest rate cuts on the horizon, even as rising inflationary risk still haunts the US economy. His comments should give a boost to the USD. Also on the docket today, we will see the release of Factory Orders, and Domestic Vehicle Sales as well as the publishing of the TAF Summary. Factory Orders are expected to show little change this month, but if the numbers return in negative territory expect the USD to feel the effects.

EUR

Yesterday the EUR saw some losses against most of its currencies rivals during the early trading session. The Euro was traded down nearly 180 pips to162.28 against the JPY, and slipped against the USD, but gained back some territory after the Standard & Poor's accreditation of U.S. securities firms. Also significant about yesterday's events was the release of the purchasing manager's indices for the most powerful economies from the Euro-Zone. The figures showed a slight decrease to 50.6, the lowest result since for nearly 3 years. The low readings were a result of weak demand, a strong Euro and high Oil and commodity prices, as investors still have worries over the apparent E-Z economic slowdown. Looking ahead to today, we can expect Euro-Zone Producer Price Index, as well as the revised GDP estimate for the first quarter of 2008. Traders should keep an eye on the release of the PPI, as it is forecasted to rise 0.1% from its last reading on May 6th. The big event of the day from the EZ, will be a speech by ECB President Trichet at the International Monetary Conference, in Barcelona where he is expected to maintain his hawkish stance in regards to EZ monetary policy.

JPY

The JPY yesterday gained against most of its rival currencies, encouraged mostly by an increase in risk aversion and weak Euro-zone PMI data. The USD fell 0.8% against the JPY to 104.70, while the Euro fell more than 1% to 162.61. It has been demonstrated that the JPY is more demanded by buyers when risk aversion occurs as investors can borrow the JPY at a lower interest rate. This behavior is generally known as Carry Trading. In addition to the host of outside events that effected the JPY, Japan's yearly Average Cash Earnings grew 0.6% from an estimated 1.3%, while the Monetary Base returned according to predictions dropping to 0.9% in May continuing a declining trend and forcing the BOJ to contemplate reforms. Today, we await a speech by Ban of Japan (BOJ) Governor Shirakawa at the International Monetary Conference meeting in Barcelona. High volatility is expected to take place. Traders should pay attention to his speech to get a sense of the direction of the currency for the near future. We also expect readings from the Capital Spending in the first quarter of the year, estimated at -9.6% from the previous mark of -7.7% in the last quarter of 2007.

The JPY, will likely be effected greatly by the outcome of the speeches from the International Monetary Conference in Barcelona. The JPY should see volatility throughout the day.

Technical News

EUR/USD

After bottoming out at 1.5450 the pair seems to be picking up fresh bullish steam and is now traded at around 1.5600. The Slow Stochastic on the daily chart is showing a bullish cross which indicates a possible target price 1.5700 on the current move. Going long appears to be preferable.

GBP/USD

There is a bearish channel forming on the daily chart, as the cable now floats in the middle of it with moderate bearish momentum. The daily Slow Stochastic is showing that the bearish cross still carries enough momentum to take the pair to 1.9550. Going short with tight spreads might be a good choice today.

USD/JPY

The daily chart is showing that the pair is trading in a tight range and is now heading to the bottom section of the range. All oscillators are floating on neutral territory without a distinct price direction. Forex traders should wait for a clearer signal before entering the market on the USD/JPY.

USD/CHF

There is a very strong bearish cross forming on the daily Slow Stochastic which indicates a possible violent bearish move. The 4 hour chart is supporting the bearish notion and it appears that the fresh bearish momentum is growing. Going short might be a preferable strategy today.

The Wild Card

Gold

After a sharp drop in gold prices in the last 3 days oscillators are showing fresh bullish momentum. The 4 hour Slow Stochastic is showing a triple top formation with a positive slope which indicates that there is still much more room for improvement. Forex traders have a great opportunity to join the bullish trend at a very early stage and with a great entry price.

Indicators

Date	Time (GMT)	Country	Event	Period	Previous	Forecast	Importance
2008-06-03		USD	Halifax House Price Index	m/m	-1.3%	-1.1%	*****
2008-06-03		USD	Domestic Vehicle Sales		10.6M	10.8M	*
2008-06-03	01:30:00	AUD	Building Approvals	m/m	-5.5%	-0.9%	****
2008-06-03	01:30:00	AUD	Current Account		-18.7B	-20.4B	*
2008-06-03	04:30:00	AUD	RBA Rate Statement		*	*	****
2008-06-03	04:30:00	AUD	Cash Rate		7.25%	7.25%	***
2008-06-03	05:45:00	CHF	CPI	m/m	0.8%	0.4%	****
2008-06-03	08:30:00	GBP	Construction PMI		46.1	45.7	***
2008-06-03	09:00:00	EUR	PPI	m/m	0.7%	0.8%	**
2008-06-03	09:00:00	EUR	Revised GDP	q/q	0.7%	0.7%	**
2008-06-03	13:00:00	EUR	ECB President Trichet Speaks		*	*	***
2008-06-03	13:00:00	JPY	BOJ Governor Shirakawa Speaks		*	*	***
2008-06-03	13:00:00	USD	Fed Chairman Bernanke Speaks		*	*	*****
2008-06-03	14:00:00	USD	Factory Orders	m/m	1.3%	0.0%	****
2008-06-03	14:00:00	USD	Fed Publishes TAF Summary		*	*	***
2008-06-03	23:01:00	GBP	Consumer Confidence Index		70	68	***
2008-06-03	23:30:00	AUD	Services PMI		47.3	*	*
2008-06-03	23:50:00	JPY	Capital Spending	q/q	-7.7%	-9.6%	***

FOREXYARD

Daily Forex Analysis - By FOREXYARD

2008-06-03T03:15:00.000-07:00

Daily Forex Analysis

Headlines

USD EUR JPY Cheif's on Tap

Market Trend

	EUR/USD	GBP/USD	USD/JPY	USD/CHF	AUD/USD	EUR/GBP
Daily Trend
Weekly Trend
Resistance	1.5590	1.9730	105.50	1.0480	0.9660	0.7960
	1.5560	1.9700	105.20	1.0450	0.9630	0.7930
	1.5570	1.9670	104.90	1.0420	0.9600	0.7900
Support	1.5500	1.9600	104.20	1.0340	0.9530	0.7830
	1.5470	1.9570	103.90	1.0310	0.9500	0.7800
	1.5440	1.9540	103.60	1.0290	0.9470	0.7770

Economic News

USD

EUR

JPY

The JPY, will likely be effected greatly by the outcome of the speeches from the International Monetary Conference in Barcelona. The JPY should see volatility throughout the day.

Technical News

EUR/USD

GBP/USD

USD/JPY

USD/CHF

The Wild Card

Gold

Indicators

Date	Time (GMT)	Country	Event	Period	Previous	Forecast	Importance
2008-06-03		USD	Halifax House Price Index	m/m	-1.3%	-1.1%	*****
2008-06-03		USD	Domestic Vehicle Sales		10.6M	10.8M	*
2008-06-03	01:30:00	AUD	Building Approvals	m/m	-5.5%	-0.9%	****
2008-06-03	01:30:00	AUD	Current Account		-18.7B	-20.4B	*
2008-06-03	04:30:00	AUD	RBA Rate Statement		*	*	****
2008-06-03	04:30:00	AUD	Cash Rate		7.25%	7.25%	***
2008-06-03	05:45:00	CHF	CPI	m/m	0.8%	0.4%	****
2008-06-03	08:30:00	GBP	Construction PMI		46.1	45.7	***
2008-06-03	09:00:00	EUR	PPI	m/m	0.7%	0.8%	**
2008-06-03	09:00:00	EUR	Revised GDP	q/q	0.7%	0.7%	**
2008-06-03	13:00:00	EUR	ECB President Trichet Speaks		*	*	***
2008-06-03	13:00:00	JPY	BOJ Governor Shirakawa Speaks		*	*	***
2008-06-03	13:00:00	USD	Fed Chairman Bernanke Speaks		*	*	*****
2008-06-03	14:00:00	USD	Factory Orders	m/m	1.3%	0.0%	****
2008-06-03	14:00:00	USD	Fed Publishes TAF Summary		*	*	***
2008-06-03	23:01:00	GBP	Consumer Confidence Index		70	68	***
2008-06-03	23:30:00	AUD	Services PMI		47.3	*	*
2008-06-03	23:50:00	JPY	Capital Spending	q/q	-7.7%	-9.6%	***

FOREXYARD

Currency Technical Report - By FX Greece

2008-06-03T03:13:00.001-07:00

Currency Technical Report

EUR/USD

Resistance : 1,5560/ 1,5590/ 1,5615/ 1,5650-60/ 1,5690
Support : 1,5525/ 1,5485/ 1,5460/ 1,5425/ 1,5390-00

Comment : Euro consolidated as it remained within the ranges we had set in our yesterday's analysis. There are not much to add, as the trend remains bearish and first important resistance is found at 1.5590-5620.

A potential break of those levels will have the area of 1.5650-65 or even 1.5700 as target while the trend would have change.

A weakness of move resumption above yesterday's tops and a clear break of 1.5500 will indicate that the downtrend from the area of 1.5820 is still valid and next target will be in the area of 1.5820, which is an important support level.

We remain within the ranges of the consolidation that is being formed the last couple of days and we wait for the break of important resistance and support levels for indications about the short term trend.

TRADING EUR/USD : Our strategy yesterday was accurate and today we will follow the consolidation trying small positions within its ranges. The area of 1.5590-5615 will be used for sell positions with stops above 1.5630 area, while buy positions could be tried in the area of 1.5580-00 with stops below 1.5560. If the area of 1.5600-10 is broken upwards and 1.5580 turns into a support, it will indicate that the trend has changed and we may follow it with buy positions.

GBP/USD

Resistance : 1,9650-55/ 1,9680/ 1,9710/ 1,9735/ 1,9760
Support : 1,9600/ 1,9580/ 1,9545/ 1,9520/ 1,9480

Comment : The downward break of 1.9700 area and the turn of 1.9680-00 area into a resistance is negative for the pound, which seems to have the area of 1.9400 as target

As long as the area of 1.9700-20 holds as resistance, bears are gaining momentum and first interim support is found at 1.9550-1.9480 area.

Above 1.9730 the negative outlook will change and a sideways consolidation may be formed. For now, we will follow the current downtrend…

TRADING GBP/USD : We remain bearish and try sell positions in any retracements towards the 1.9680 and 1.9705-10 areas, setting our stops above the 1.9740 area.
Buy positions will be tried at 1.9500-10.

USD/JPY

USD/CHF

FX Greece

DISCLAIMER

The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
We reserve the right to change the terms and the characteristics of the analysis.
The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.

Currency Pair Daily Forecasts - By Finotec Group

2008-06-03T03:10:00.000-07:00

Currency Pair Daily Forecasts

EUR/USD Daily Technical Reports

EUR/USD-market strategy can be a sell till the level 1.5520$

Technical oscillators supporting the bearish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend, although slightly over sold according to Bollinger.

USD/JPY Daily Technical Reports

USD/JPY-market strategy can be a buy till the level 105.04

Technical oscillators supporting the bullish trend for the currency pair

GBP/USD Daily Technical Reports

GBP/USD-market strategy can be a sell till the level 1.9630$

Technical oscillators supporting the bearish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend.

USD/CHF Daily Technical Reports

USD/CHF-market strategy can be a buy till the level 1.0481

Technical oscillators supporting the bullish trend for the currency pair

Finotec Group Inc.
http://www.finotec.com/

Technical Analysis Daily: GBP/USD - By iFOREX.bg

2008-06-03T03:08:00.001-07:00

Technical Analysis Daily: GBP/USD

GBP/USD 1.9654

GBP/USD Open 1.9818 High 1.9774 Low 1.9602 Close 1.9668

The British Pound descended significantly against the US Dollar yesterday from 1.9817, broke the past support level at 1.9645 and went down to 1.9600, which are the first resistance and support levels respectively for the currency couple today. But today the GBP/USD forms a recovery trend from yesterday's losses. If the negative sentiment continues, next support is expected at 1.9540, followed by 1.9480. In upward direction next resistance level today is expected at 1.9850, followed by 1.9930.

Technical resistance levels: 1.9770 1.9850 1.9930
Technical support levels: 1.9600 1.9540 1.9480

Trading range: 1.9640 - 1.9705

Trend: Upward

Buy at 1.9654 SL 1.9624 TP 1.9694

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Daily FX Report - By Varengold Bank

2008-06-03T03:05:00.000-07:00

Daily FX Report

Good morning from still warm and sunny Hamburg. Today we are expecting the EZ producer prices to not become as hot as the temperature out there is. Indeed, when we look outside at the Elbe river, the temptation becomes higher and higher to jump in it, despite of the dirty harbor water.

Markets review

The surging oil price drove the Swiss consumer price inflation to a 14 ½ year high in May about 0,8% in relation to April which makes an annual inflation rate of 2,9%. That leaves the SNB without leeway to cut interest rates soon. The USD/CHF reacted with a loss of 0,49% at 1,0371 at closing and the session low at 1,0323.

The AUD response is relatively unhurried about the rate decision from RBA - which is to keep the interest rates steady at the high level of 7,25%. The AUD/USD rose 0,14% and is traded at 0,9549 currently. Yesterday the AUD/USD jumped 30 pips to a session high at 0,9567 after data on building approvals and Q1 current account came out better than it was expected.

The USD fell against the JPY on Monday and gave up gains versus the EUR after the rating agency Standard and Poor's had downgraded the US financial sector firms. The USD extended losses against the JPY to a low at 104 and closed the session at 104,43. Against the EUR the USD closed the day almost flat with a profit of 0,1% at 1,5566 after rebounding from its session low at 1,5485.

Technical analysis

USD/CAD

The horizontal trend direction in the USD/CAD stopped in the middle of May. A drop down to 0,9811 was followed by a recovery phase. The strong up trend could bring the currency pair to break through the old support level at 0,9983. This might be a sign for further long potential and a comeback in the trend channel.

NZD/USD

The down trend channel, which has been established since the end of March, might be over. After the NZD/USD hit the bottom at 0,7534 the recovery was so strong that it has crossed the resistance at 0,7789. This movement stopped the trend channel and the resistance changed to a new support level.

Pivot Points - Daily FX Support and Resistance Levels

Daily Calendar & Key FX Events

Varengold Bank

IMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THIS DOCUMENT

Forex Technical Analysis - By DeltaStock Inc.

2008-06-03T03:02:00.000-07:00

Forex Technical Analysis

EUR/USD

Current level-1.5577

The pair has set a local top at 1.5818 completing the rise from 1.5283. Technical indicators are neutral. The 50- day SMA is currently projected at 1.5663.

Still in the broad consolidation above the local bottom at 1.5459. Although the minimum price requirement was filled with yesterday's 1.5591 we will expect further advance towards 1.5637 before completion of the current correction and renewing of the downtrend towards 1.5283.

Today's strategy: Stand aside.

Resistance		Support
intraday	intraweek	intraday	intraweek
1.5591	1.5663	1.5961	1.6020
1.5448	1.5418	1.5282	1.50+

USD/JPY

Current level - 104.24

The expected corrective downswing from 105.87 managed to break below 104.38, thus changing our bullish outlook to neutral. Intraday, till the pair stays below 104.71, the bias will be negative for 103.41 and 102.89.

Today' strategy: Sell at current levels with a stop above 104.71 and targets at 103.41 and 102.89.

Resistance		Support
intraday	intraweek	intraday	intraweek
104.71	105.87	106.68	108.31
104.01	103.43	102.63	100.82

GBP/USD

The downtrend from the 2.0397 local top has reached a low at 1.9374. Technical indicators are reversed on the 4 h. chart and the trading is situated below the 50- and 200-day SMA, currently projected at 1.9819 and 2.0044.

The important resistance at 1.9851 proved to be significant supply level once more and the pair was sharply sold out to 1.96012. Although the moves in the last few days have been exclusively sharp and fast, they are nothing more than an inner structure swings of the consolidation phase, that takes place below 1.9850. As our target at 1.9611 was reached yesterday, we will expect an intraday rise towards 1.9706, followed by one more leg downwards to 1.9551.

Today's strategy : Buy current levels for 1.9706 and wait to sell at 1.9706 for 1.9551.

Resistance		Support
intraday	intraweek	intraday	intraweek
1.9706	1.9851	1.9963	2.0196
1.9601	1.9551	1.9338	1.9196

DeltaStock Inc. - Online Forex & Securities Broker
www.deltastock.com

Forex Depth Analysis: GBP/USD - By Finotec Group

2008-06-03T02:59:00.000-07:00

Forex Depth Analysis: GBP/USD

Sterling unlikely to recover ahead of more PMI data!

Sterling headed for its biggest daily fall against the dollar in a month on Monday, hit by a slowing housing market, a manufacturing sector on the brink of contraction and a profit warning from a major mortgage lender.

The troubles at Britain's biggest buy-to-let mortgage lender coupled with data showing new UK home loans tumbled to a record low in April stirred concerns about the health of the UK housing and financial sectors, both key drivers of economic growth. There was also bad news for the economy from the manufacturing sector, where the May Purchasing Managers' Index (PMI) signaled stagnation.

The following technical analysis gives us a detailed lookout on what is expected to happen to GBP/USD.

The buying point is at 1.9690; based on a break of a strong resistance.

Previous resistance is the take profit at 1.9825
Fibonacci 23.6% is the stop loss at 1.9623

The selling point is at 1.9626; based on a clear downtrend.

Fibonacci 61.8% is the take profit at 1.9535
Fibonacci 38.2% is the stop loss at 1.9681

To strengthen our analysis; we use many indicators, starting with MACD (Moving Averages convergence divergence); we notice the crossing of MACD line to the signal line with a break of the equilibrium level. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction.

The momentum oscillator is very important to understand the strength of the market and as we see on the graph it is in a clear downtrend. The Stochastic oscillator breaks 80% line and continues to go lower.

* The following analysis is for information only; Finotec is not responsible for any decisions or misinterpretations based on the given tex

Finotec Group Inc.
http://www.finotec.com/

Forex Technical Analytics - By FOREX Ltd

2008-06-03T02:57:00.000-07:00

Forex Technical Analytics

CHF

The pre-planned breakout variant for sales has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the features of oversold factor did not reveal clearness of bullish reaction that confirms the actuality of formed reversal signal. Hence we have grounds to support bearish planning priorities for today with condition of pair return to resistance range 1.0380/1.0400, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.0320/40, 1.0280/1.0300 and/or further breakout variant up to 1.0210/30, 1.0160/80. An alternative for buyers' will be above 1.0460 with the targets 1.0500/20, 1.0560/80.

GBP

The pre-planned breakout variant for sales has been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked the advantage of bearish activity at the break of key supports gives support to priority of bearish planning for today. Hence we assume a possibility of pair return to the nearest resistance range 1.9650/70, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.9590/1.9610, 1.9520/40 and/or further breakout variant up to 1.9440/60, 1.9380/1.9400. An alternative for buyers will be above 1.9720 with the targets 1.9760/80, 1.9820/40.

JPY

The pre-planned breakout variant for sales has been realized but with a loss of several points in attainment of minimal assumed target. OsMA trend indicator having marked the features of incompletion of bearish development with minimal advantage of counteractive party gives grounds to choose a priority of corresponding direction operations' planning for today. Hence we assume a possibility of pair return to the nearest resistance range 104.50/60, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 104.00/10, 103.70/80 and/or further breakout variant up to 103.10/30, 102.60/80. An alternative for buyers will be above 105.00 with the targets 105.40/60, 105.80/106.00.

EUR

The pre-planned long positions from the key support range have been realized with overlap of minimal presumed target. OsMA trend indicator having marked the activity fall of both parties excludes the certainty towards a choice of priorities for today. Hence we assume a further range movement of the rate and taking into account the absence of confirmative activity at the formed reversal bearish signal, we assume a possibility of retest of channel line '1' within the range of 1.5580/1.5600, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.5520/40, 1.5460/80 and/or further breakout variant up to 1.5400/20, 1.5340/60, 1.5300/20. An alternative for buyers will be above 1.5640 with the targets 1.5680/1.5700, 1.5740/60.

FOREX Ltd
www.forexltd.co.uk

EURUSD, AUDUSD, EURCHF Daily Outlook - By E-Forex

2008-06-03T02:55:00.001-07:00

EURUSD, AUDUSD, EURCHF Daily Outlook

EURUSD

The 61.8% retracement of the recent 1.5285-1.5819 swing at 1.5488 remained intact and provided an intra-day reversal, the Euro catching a bid since the dollar failed to drag it lower towards the mid 1.54 zone on yesterday. The Euro rally doesn't suggest much as the pair failed to close higher on yesterday. Short term sentiment remains unchanged while the range of 1.5485-1.5615 is valid. An intra-day upward channel is formed on the hourly charts by the previous 2 days highs and lows. More ranging action is likely to be seen while the market is looking for direction. Downside bias favors selling on rallies while a potential break on the upside past 1.5640 would resume the uptrend and we will focus towards the 1.58 zone once again. Current quote is 1.5555 @06:30 GMT

Support levels: 1.5520, 1.5480-90, 1.5460, 1.5400 and 1.5360.
Resistance levels: 1.5560, 1.5590, 1.5640, 1.5680, 1.5700 and 1.5760
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish

AUDUSD

Although medium term studies are bullish, the short-term structure is corrective and the retracement may continue towards the 0.9470 region if current support at 0.9510 breaks. The pair is heavy and a daily close above 0.9570 is needed to signal a resume of the uptrend, focusing on the record highs into the 0.9650 area. On the downside, important support backs 0.9470 at 0.9430 formed by the 61.8% retracement of the 0.9290-0.9654 swing and also by an upward trendline extended through March and April's lows. Current quote is 0.9539 @06:30 GMT

Support levels: 0.9513, 0.9500, 0.9475 and 0.9425.
Resistance levels: 0.9555, 0.9600, 0.9650 and 0.9700.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish

EURCHF

Interim short term support is noticed into the 1.6065 zone formed by the 50% retracement of the 1.5760-1.6378 move and also the low of May 09. A potential break will probably accelerate the current decline to 1.5995-1.6 where other fib support is seen. Current quote is 1.6082 @06:30 GMT

Support levels: 1.6065, 1.5995 and 1.5955.
Resistance levels: 1.6140, 1.6200 and 1.6230.

E-Forex

Legal disclaimer and risk disclosure

Technical Analysis for Crosses - By Crown Forex

2008-06-03T02:53:00.001-07:00

Technical Analysis for Crosses

GBP/JPY

The Pound declined against the Yen yesterday to break through the short term upside channel but the pair is still trading within the medium term ascending channel, the momentum indicators are showing that the pair is being traded within an oversold area on intraday basis and once the correction is over we should witness an upside reversal, the level at 203.79 represented by the 50 days moving average could prove to be a good demand, while strong support can be seen around 202.90 the support level for the medium term upside channel.

Support: 203.79, 203.39, 202.90, 202.48, 201.85
Resistance: 204.45, 204.96, 205.48, 205.94, 206.41

EUR/JPY

The Euro also dropped against the Yen as the pair breached the 38.2% correctional level at 162.26 and seems to be heading towards the 50% level at 161.56 which offers strong demand for the pair, the momentum indicators are showing the pair resides within an oversold area over intraday basis and that could lead the pair back to the upside once this correction is over

Support: 161.91, 161.56, 161.23, 160.88, 160.57
Resistance: 162.26, 162.58, 162.91, 163.25, 163.68

EUR/GBP

The Euro managed to gain back against the Pound as the pair rebounded successfully and seems to have initiated a new upside wave, yet the pair must breach the 0.7931 to confirm any further upside waves, the momentum indicators are showing the pair is trading within an overbought area and that might need a slight correction before progressing its bullish wave the targets the 0.80 levels once again.

Support: 0.7918, 0.7904, 0.7893, 0.7881, 0.7865
Resistance: 0.7931, 0.7944, 0.7960, 0.7975, 0.7990

Crown Forex

FX Technical Analysis - By Mizuho Corporate Bank

2008-06-03T02:51:00.001-07:00

FX Technical Analysis

EURUSD

Comment: Difficult as we trade in a small range roughly in the middle of the range since March. Expect more of the same today. Rallies will probably be capped by the very large Ichimoku 'cloud'. Intermediate highs and lows will be hard to spot.

Strategy: Possibly attempt tiny shorts at 1.5555/1.5590; stop above 1.5655. Short term target 1.5485, maybe 1.5400.

Direction of Trade: →

Chart Levels:

Support	Resistance
1.5512	1.5559
1.5485	1.5590/1.5605*
1.5461*	1.5640
1.5400*	1.5680/1.5700
1.5340	1.5800

GBPUSD

Comment: Having an awful lot of trouble with a very thin Ichimoku 'cloud'. Prices will hopefully try and form a small interim base today allowing for an upside squeeze later this week.

Strategy: Possibly attempt small longs at 1.9625; stop well below 1.9600. Short term target 1.9750, then 1.9900

Direction of Trade: →

Chart Levels:

Support	Resistance
1.9615	1.9680
1.9597*	1.9760
1.9550	1.9828
1.9500	1.9850
1.9450**	1.9900

USDJPY

Comment: Little to add after a third upside test saw prices inch to a new recent high at 105.88. We are still looking for signs of topping this morning and then a very slow drift back down to 104.50 late today/tomorrow.

Strategy: Attempt shorts at 105.50; stop above 105.95. Short term target 104.50, then 103.50.

Direction of Trade: →↘

Chart Levels:

Support	Resistance
104.11	104.50
104.00	104.71
103.89	105.35
103.50	105.50
103.00	105.88*

EUR/JPY

Comment: Dropping, here and in a wide range of Yen crosses. If not today then later this week we favour a drop below the top of the Ichimoku 'cloud' and a cautious drop to the lower edge of this very fat 'cloud' at 158.35. Below here would complete a large 'double top'.

Strategy: Sell at 162.10, adding to 162.65; stop above 163.50. Short term target 161.50, then 159.00.

Direction of Trade: ↘

Chart Levels:

Support	Resistance
161.82	162.00
161.60/161.40*	162.46
161.00	162.65
160.60*	163.00
159.00	163.50*

Mizuho Corporate Bank

Disclaimer

Technical Analysis for Major Currencies - By Crown Forex

2008-06-03T02:48:00.000-07:00

Technical Analysis for Major Currencies

EURO

The European currency has turned positive today closing above 1.5520 yesterday and bypassing the 1.5540 level since the early morning, technical indicators are pointing higher as well, as the currency remains above the major trend line and consolidates above the retracement points, it looks like we are going to see another trial on the upside targets maybe this time the currency will be able to break through.

The trading range is among the key resistance level at 1.5720 and the key support level at 1.5420.

The general trend is to the upside as far as 1.4260 remains intact; targets are set at 1.6080 and 1.6360.

Support: 1.5520, 1.5502, 1.5483, 1.5465, 1.5420
Resistance: 1.5555, 1.5582, 1.5612, 1.5632, 1.5691

Recommendation: Buy Euro above 1.5520 with a target at 1.5620 and a stop loss below 1.5480

GBP

The British pound did not sink into the descending channel again yet it got stuck in the middle of a neutral area between 1.9620 and 1.9745, while technical indicators are not showing any great bias for any of those directions, yet the upside potential still the highest probability with a high level of risk on all the trading positions.

The trading range is among the key resistance level at 1.9750 and the key support level at 1.9530

The general trend is to the downside as far as 2.0200 remains intact; targets are set at 1.9230 and 1.8700.

Support: 1.9640, 1.9618, 1.9595, 1.9580, 1.9555
Resistance: 1.9681, 1.9705, 1.9745, 1.9769, 1.9782

Recommendation: Buy British Pound above 1.9610 with a target at 1.9700 and a stop loss below 1.9575.

JPY

The dollar against the Japanese yen has declined below 104.50 yesterday and stayed below it targeting the next support line at 103.90 and then to the critical point at 102.50, technical indicators are still confirming the downside movement yet we need to see a breach to the level 103.90-70 in order to be sure, while any reversal should not exceed the 104.80 level to remain on this short term bearish scenario.

The trading range for today is among the key resistance level at 104.80 and the key support level at 102.90

The general trend is to the downside as far as 109.00 remains intact; targets are set at 92.40 and 90.00.

Support: 104.10, 103.92, 103.70, 103.51, 103.22
Resistance: 104.50, 104.79, 104.92, 105.20, 105.42

Recommendation: Sell USDJPY below 104.50 with a target at 103.50 and a stop loss above 104.95.

CHF

The dollar against the Swiss frank has confirmed a short term bearish scenario that could go on to the 1.0180 again, as technical indicators are adjusting for this movement since yesterday and as the range got breached yesterday, it is safe to say that 1.0220 is on the doors now, and some consolidation might help give it the right momentum.

The trading range is among the key resistance level at 1.0460 and the key support level at 1.0220.

The general trend is to the downside as far as 1.1000 remains intact; targets are set at 0.9670 and 0.9370.

Support: 1.0345, 1.0320, 1.0281, 1.0245, 1.0220
Resistance: 1.0369, 1.0390, 1.0420, 1.0475, 1.0520

Recommendation: Sell USDCHF below 1.0380 with a target at 1.0300 and a stop loss above 1.0420.

CAD

The pair has reached to the parity level and heading today to the 1.0112 levels again, yet the primary trend is for the downside we just can not deny the fact that all indicators are pointing higher and a touch for the descending trend line maybe a must for the pair and from there we can reestablish a new strategy.

The trading range is among the key resistance level at 1.0120 and the key support level at 0.9900.

The general trend is to the downside as far as 1.0700 remains intact; targets are set at 0.9030 and 0.8840.

Support: 1.0000, 0.9990, 0.9972, 0.9945, 0.9920
Resistance: 1.0030, 1.0061, 1.0086, 1.0112, 1.0136

Crown Forex

Technical Analysis Daily: EUR/USD - By iFOREX.bg

2008-06-03T02:46:00.000-07:00

Technical Analysis Daily: EUR/USD

EUR/USD 1.5524

EUR/USD Open 1.5548 High 1.5578 Low 1.5496 Close 1.5544

The Euro traded within the 1.5496 - 1.5578 range yesterday against the US Dollar, which are the first support and resistance levels for the currency couple today. If the negative trend continues, next support is expected at 1.5400, followed by 1.5330. In upward direction next resistance for today is expected at 1.5660, the break of which would lead to next target 1.5750.

Technical resistance levels: 1.5578 1.5660 1.5750
Technical support levels: 1.5465 1.5400 1.5330

Trading range: 1.5510 - 1.5575

Trend: Upward

Sell at 1.5524 SL 1.5494 TP 1.5564

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Forex Technical Update - By Rcpl Forex

2008-06-03T02:44:00.000-07:00

Forex Technical Update

Euro: Euro surged by 103 from the day's low of 1.5486 to touch an intraday high of 1.5489 before closing lower at 1.5536. The daily stochastic is close to the oversold region while the 4-Hourly hourly shows a downmove. Look for opportunities to long at 1.5490 levels (61.8% Retracement of the latest rise) for an intraday gain of 50 pips.(Eur/Usd-1.5533).

Pound: Pound was extremely volatile as it traded in a range of 179 pips on Monday as it dipped to an intraday low of 1.9595 before gaining some strength to close at 1.9662. The hourly & 4-Hourly stochastic are neutrally poised while the daily stochastic still shows selling pressure which should lead to a fall till 1.9586 levels. (Resistance turned trendline support and 100 weekly EMA) (Gbp/Usd- 1.9624).

Yen: USD/JPY pair fell by 152 pips from the day's high on Monday as it took support of the (100 4-Hourly EMA and 55 daily EMA) at 104.01 before closing 104.42. The daily & hourly charts indicate a further fall while the hourly stochastic shows buying pressure. On the downside only a break of yesterday's low would give further bearish bias. (Usd/Jpy- 104.19).

Rupee: The rupee gained against the dollar to touch a high of 42.15 on Monday on news that the Reserve Bank of India will provide liquidity to oil companies. The rupee ended the day at 42.41/42, 20 paise higher from the previous close of 42.61/62. The forward premia came off their previous high with the six month closing at 1.69 per cent and the one-year closing at 1.48 per cent.(Usd/Inr- 42.54)

Swiss Franc: USD/CHF pair weakened yesterday as the pair dipped to touch a low of 1.0324 however later gained some strength and closed at 1.0370. The pair is currently taking support at 1.0378 ( 21 & 55 daily EMA) a break of this support would give way for further downmove which is supported by the steep fall in the daily and hourly charts. On the upside 1.0424 (50% retracement 4-hrly charts) should be held.(Usd/Chf-1.0353).

Australian Dollar: Aussie gained throughout in the yesterday's session after touching a low of 0.9501 and later closed at 0.9554. RBA rate decision was scheduled today and the rate was kept unchanged. The 4-hrly and hourly are close to the overbought region and daily still shows some buying pressure hence an upmove upto 0.9590 (61.8 % retracement) can be seen. On the downside 0.9520 (21 daily EMA and horizontal trendline support) should be a critical level and a decisive break of this level would give a bearish bias to the pair. (Aud/Usd - 0.9546).

Gold: Gold traded in a range of $17 in yesterday's session as it surged up to a high $897 and later closed weaker at $890. The daily and hourly shows an upmove while the 4-hrly shows a fall. It is currently facing a strong resistance at $893 (100 daily, 21 4-hrly, 100 hourly EMA) a break of this level would indicate a further upmove beyond the $ 900 mark. On the downside $880 (61.8 % retracement 4-hrly chart) should hold(.Gold - $892.35)

Dollar index: Dollar index is currently at 73.09, 0.06 points lower than previous levels of 73.015. Stochastic is currently at 57.4% and shows an upmove . Medium term target 75.00.

RCPL FOREX
www.rcplforex.com

DISCLAIMER

Pro FX Commentary: EURJPY - By Global Forex Trading

2008-06-03T02:41:00.000-07:00

Pro FX Commentary: EURJPY

Price: 162.44

Resistance:	162.60	162.88	163.20	163.54
Support:	162.06	161.82	161.57	161.13

Bias:

While 162.88-13 caps the downside still appears to be the more vulnerable side

Daily Bullish:	Loss of 163.30-40 provided the signals for losses that reached the 162.13 target and minor breach to 162.06. This is producing a correction and I feel this has legs to 162.88 but take care there as in a more bearish structure this should cap. Breach would extend the move to 163.13-29 and if seen would tend to suggest that we have merely seen a correction lower. As such we could then see gains back above the 163.50-54 pivot resistance and to 163.89 before the 164.20-46 highs.
MT Bullish:	3rd June: Yesterday's losses place doubt upon any further upside but I'd be forced to consider this on a break above the 163.13-29 area. If seen then look for a swift retest of 164.20-46 and above to the 164.96 high.
Daily Bearish:	Losses came as preferred, stalling at 162.06 and while the 162.88-13 area caps there is still argument for additional losses. A move down from this resistance that breaks below 162.06 would provoke further strong losses to 161.57 minimum and probably the 161.13-25 area which should cause a correction higher.
MT Bearish:	30th May: The picture is as clouded as before and only below the 163.29-41 lows would raise the chance of follow-through below 162.56 and 162.15 en route 161.25.

ELLIOTT WAVE COMMENTS

2nd June

The wave structure remained very messy but the low at 163.07 was a 38.2% expansion of the recovery from 163.29 to 164.21 and the recovery back to this high argues for an expanded flat which means we should now see losses.

A break below 163.07 would confirm and suggest a minimum Wave iii target at 162.57 (138.2%) and more likely 162.13 (176.4%.) Take care here as this could cause a pullback else we may well be talking about a 261.8% projection to the 161.13-25 area.

Only above 164.46 would imply a retest of the 164.96-00 area…

Ian Copsey
Global Forex Trading
http://www.gftforex.com

Forex and Dow Jones Recommended Levels - By FXtechtrade

2008-06-03T02:38:00.000-07:00

Forex and Dow Jones Recommended Levels

EUR/USD

Today's support: - 1.5514, 1.5483, 1.5465 and 1.5432(main), where correction is possible. Break would give 1.5413, where correction also may be. Then follows 1.5389. Break of the latter would result in 1.5364. If a strong impulse, we would see 1.5322. Continuation will give 1.5305 and 1.5284.

Today's resistance: - 1.5573(main). Break would give 1.5596, where a correction is possible. Then goes 1.5617. Break of the latter would result in 1.5650. If a strong impulse, we'd see 1.5664. Continuation will give 1.5692.

USD/JPY

Today's support: - 104.40(main). Break would bring 104.29, where correction is possible. Then 104.15. If a strong impulse, we would see 103.84. Continuation would give 103.52.

Today's resistance: - 104.86, 106.08 and 106.31(main), where a correction may happen. Break would bring 106.58, where also a correction may be. Then 106.98. If a strong impulse, we would see 107.14. Continuation will give 107.33.

DOW JONES INDEX

Today's support: - 12 484.68 and 12 455.16(main), where a delay and correction may happen. Break of the latter will give 12 420.35, where correction also can be. Then follows 12 376.10. Be there a strong impulse, we would see 12 352.60. Continuation will bring 12 332.82.

Today's resistance: - 12 557.35, 12 583.13 and 12 605.63 (main), where a delay and correction may happen. Break would bring 12 628.13, where a correction may happen. Then follows 12 656.23, where a delay and correction could also be. Be there a strong impulse, we'd see 12 694.22. Continuation would bring 12 734.80, 12 757.66 and 12 777.74.

FXtechtrade
http://www.fxtechtrade.com

Daily Technical Analysis - By FX Instructor

2008-06-03T01:27:00.000-07:00

Daily Technical Analysis

EURUSD Outlook

After bottomed at 1.5486, the EURUSD made an upside movement and topped at 1.5588 yesterday. However, my bearish hourly channel is still valid, so my model remains short targeting 1.5450. Immediate support seen at 1.5486 (yesterday's low). Initial resistance at 1.5600. CCI in neutral area on daily chart.

EURUSD Daily Supports and Resistances:

S1= 1.5487
S2= 1.5435
S3= 1.5385
R1= 1.5589
R2= 1.5639
R3= 1.5691

GBPUSD Outlook

The gaps were not filled yesterday. The weakness of Sterling continued. The pair bottomed at 1.9595, 25 pips lower from my short target. My model remains short, targeting 1.9530 area. Immediate resistance is seen at 1.9575. CCI in neutral area on daily chart.

GBPUSD Daily Supports and Resistances:

S1= 1.9577
S2= 1.9498
S3= 1.9401
R1= 1.9753
R2= 1.9850
R3= 1.9929

USDJPY Outlook

The Japanese Yen recovered against Dollar yesterday. The USDJPY bottomed at 104.02 and closed at 104.42. However, my model remains long as my bullish channel is still valid. As long as the pair stay above 103.35 area, the medium term bullish scenario is still intact. Immediate support is seen at 104.02 (yesterday's low). Initial resistance at 105.00. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

S1= 103.78
S2= 103.14
S3= 102.27
R1= 105.29
R2= 106.16
R3= 106.80

USDCHF Outlook

The USDCHF seems in a good bearish momentum. The new bearish channel on my hourly chart looks good. My model is short, targeting 1.0300. Immediate resistance is seen at 1.0420. CCI in neutral area on daily chart.

USDCHF Daily Supports and Resistances:

S1= 1.0313
S2= 1.0256
S3= 1.0189
R1= 1.0437
R2= 1.0504
R3= 1.0561

FX Instructor LLC
www.fxinstructor.com

The information has been prepared for information purposes only. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. This information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXInstructor LLC assumes no responsibilities for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon this information. FXInstructor LLC does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXInstructor LLC shall not be liable for any indirect, incidental, or consequential damages including without limitation losses, lost revenues or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results

Daily Forex Market Commentary - By Global Forex Trading

2008-06-03T01:24:00.000-07:00

Daily Forex Market Commentary

The dollar had a choppy day of trading on Monday, as the Standard and Poor's downgrading of 3 major US investment banks triggered long liquidation in carry trades. Dollar fell sharply against the yen, less against the Swiss, but rallied against the weak pound. Expect more consolidation today.

Euro/dollar

Euro/dollar trimmed most of its early losses on Monday to close with only smalllosses. Consolidation should continue today as well.

Immediate support now comes at 1.552.. The next levels are 1.5495 and 1.5460. Below 1.5415, distant support is seen at 1.5287 from a pivot low.

The resistance at 1.5590 should hold on the day. If it doesn't, then look for a rally to as high as 1.5650. Distant resistance is perched at 1.5817.

Oscillators are mixed.

NEAR-TERM: Mixed
MEDIUM-TERM: Mixed to slightly bullish
LONG-TERM: Bullish

Dollar/yen

Dollar/yen slumped sharply on aggressive sales of carry trades. Following some early bounce, expect another decline.

Initial support is pegged at 104.10. Below 103.40 from a 50-point pivot, which targets 102.90 and 103.90, there is distant support at 102.73.

Immediate resistance is at 104.50 from a 50-point pivot, which targets 104.00 and 105.00. Distant resistance is at 105.60 from a 50-point pivot that targets 105.10 and 106.10.

Oscillators are mixed.

NEAR-TERM: Mixed with downside bias
MEDIUM-TERM: Bullish
LONG-TERM: Bearish

Sterling/dollar

Sterling/dollar fell sharply on Monday on news that suggests that recession is close. The pound trimmed losses, so after some recovery today, the decline should resume.

Initial resistance is at 1.9710. Above it, there is further resistance at 1.9760, 1.9795 and 1.9880.

Support is first seen at 1.9600. Below 1.9550, cable has support at 1.9470.

Oscillators are mixed.

NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Mixed

Dollar/Swiss franc

Dollar/Swiss fell on Monday as well but trimmed losses by the close. Tuesday should see only consolidation.

Immediate support is seen at 1.0326. Below 1.0315, distant support follows at 1.0215.

Initial resistance is pegged at 1.0415. 1.0460 follows this. A break above 1.0533 would signal a spike up to 1.0622.

Oscillators are mixed.

NEAR-TERM: Mixed
MEDIUM-TERM: Slightly bullish
LONG-TERM: Bearish

Cornelius Luca
Global Forex Trading
http://www.gftforex.com

FX Technical Commentary - By Easy Forex

2008-06-03T01:14:00.000-07:00

FX Technical Commentary

Euro 1.5545

Initial support at 1.5462 (May 30 low) followed by 1.5410 (May 6 resistance). Initial resistance is now located 1.5589 (Jun 2 High) at followed by 1.5669 (May 29 high).

Yen 104.50

Initial support is located at 104.02 (June 2 low) followed by 103.89 (May 28 low). Initial resistance is now at 105.54 (June 2 high) followed by 105.88 (May 29 high).

Pound 1.9660

Initial support at 1.95967 (Jun 2 low) followed by 1.9555 (61.8% retracement 1.9363 to 1.9852). Initial resistance is now at 1.9816 (June 2 high) followed by 1.9852 (May 23 high)

Australian Dollar 0.9555

Initial support a 0.9503 (June 2 low) followed by 0.9430 (61.8% retracement 0.9291 to 0.9655). Initial resistance is now at 0.9581 (May 30 high) followed by 0.9639 (May 29 high).

Gold 891

Initial support at 871.25 (May 30 low) followed by 860.5 (May 14 low). Initial resistance is now at 909.85 (May 28 high) followed by 930.9 (May 27 high).

Currency	Sup 2	Sup 1	Spot	Res 1	Res 2
EUR/USD	1.5410	1.5462	1.5545	1.5589	1.5669
USD/JPY	103.89	104.02	104.50	105.54	105.88
GBP/USD	1.9555	1.9597	1.9660	1.9816	1.9852
AUD/USD	0.9430	0.9503	0.9555	0.9581	0.9639
XAU/USD	860.50	871.25	891.00	909.85	930.90

Easy Forex
http://www.easy-forex.com

Elliott Wave and Fibonacci Predictions: EUR/USD - By Capital Forex Group

2008-06-02T05:09:00.000-07:00

Elliott Wave and Fibonacci Predictions

Hey traders, new week is here and market is already moving like crazy, especially this GBP/JPY dropped for around 250 pips in just a few hours. Ok, as you already know, prices missed my last position from Friday on EUR/GBP for a five pips. However, I removed my orders after this, because it was Friday and you never now about this gap thing in new week. So, I will slow down with my trades on this pair and give to the market sometime to develop how it wants. Right now I am more focused on EUR/USD, so let's see what we have...

EUR/USD

If you remember my update on Friday, I mentioned that we could see prices to move up somewhere near to 1,5600. I believe that we are in the correction move of wave II, and it looks like there are good chances to make some pips in this one. I will wait on a market to come to me, and then I will try to go with it. I have my short orders from 1,5605-1,5620, with stops above 1,5650. These orders could be in action very fast, especially if blue wave (b) is already done and the wave (c) in on the way. But honestly I believe in more complex moves in this zigzag, what I wont to say here is that I am expecting another move down to around 1,5500 before will trend continue to 1,5600. I am talking about red wave c of blue wave (b). I have my long orders from 1,5480-1,5500 with stops below wave I. We can also see that 4hour stochastic is moving up, near to the zero line, so this would be ideal for wave II to complete around 1,5600. Traders, see you tomorrow, Grega

Gregor Horvat
chief executive officer
forex analyst
Capital Forex Group LLC

Currency Technical Report - By FX Greece

2008-06-02T05:06:00.002-07:00

Currency Technical Report

EUR/USD

Resistance: 1,5570-80/ 1,5610-20/ 1,5650-55/ 1,5685/ 1,5710
Support: 1,5510-20/ 1,5460-70/ 1,5425/ 1,5390/ 1,5350

Comment : In the last day of the week and the month, euro accelerated from the area of 1.5450 keeping, however, the downward trend that was formed after the tops of 1.5800-20. The risk of a further move resumption to the base of 1.5350-00 is not over and euro's reaction to the first resistance levels that form the trend, will give the first signs.

First important resistance is found at the area of 1.5600-20, levels where bears are likely to make their appearance. Next resistance emerges at the levels of 1.5650-70, area where the trend reversal is marked.

If the area of 1.5600-20 is not broken, it will indicate the strength of the downtrend and move below 1.5500 will confirm it. Below Friday's lows, next targets are at the area of 1.5390-00 and 1.5330-50 where we think is the limit for the fall.

TRADING EUR/USD : The picture is still neutral and the basic trend is bearish. We keep our positions small until we have better indications and try sell positions in any retracement towards the area of 1.5590-5610, with stops above 1.5650 and target at 1.5510-20 area...

A downward break of 1.5500 may be used for sell positions with the previous lows or the area of 1.5400 as target...

GBP/USD

Resistance : 1,9650/ 1,9680/ 1,9710-20/ 1,9770/ 1,9800
Support: 1,9600/ 1,9575/ 1,9545/ 1,9500

Comment : The week start with a sharp downward move for the pound, which broke the 1.9700 base. The current formation in the daily chart should reach the area of 1.9370-00 in order to be completed and if the day closes below 1.9700, we will follow that scenario.

First important support for today is found in the area of 1.9600-10, levels where the 50% of the acceleration is completed, while a downward break of those levels will lead to the area of 1.9500-10.

In order for this negative picture to change, we need to see an immediate retracement above the area of 1.9710. In that case the sideways consolidation will be formed into a widened triangle and the area of 1.9800-20 could be tested again...

TRADING GBP/USD : The downward break of 1.9700 and the picture from the daily chart lead us to the sellers side, trying sell positions in any retracement towards the area of 1.9670-00, with stops above 1.9735. Our first target will be at 1.9600 area, followed by the area of 1.9530-50...

USD/JPY

USD/CHF

FX Greece

DISCLAIMER

The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
We reserve the right to change the terms and the characteristics of the analysis.
The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.

Currency Technical Report - By FX Greece

2008-06-02T05:06:00.001-07:00

Currency Technical Report

EUR/USD

Resistance: 1,5570-80/ 1,5610-20/ 1,5650-55/ 1,5685/ 1,5710
Support: 1,5510-20/ 1,5460-70/ 1,5425/ 1,5390/ 1,5350

A downward break of 1.5500 may be used for sell positions with the previous lows or the area of 1.5400 as target...

GBP/USD

Resistance : 1,9650/ 1,9680/ 1,9710-20/ 1,9770/ 1,9800
Support: 1,9600/ 1,9575/ 1,9545/ 1,9500

USD/JPY

USD/CHF

FX Greece

DISCLAIMER

The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
We reserve the right to change the terms and the characteristics of the analysis.
The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.

Technical Analysis Daily: USD/JPY - By iFOREX.bg

2008-06-02T04:20:00.001-07:00

Technical Analysis Daily: USD/JPY

USD/JPY 104.84

USD/JPY Open 105.46 High 105.57 Low 104.66 Close 105.37

The US Dollar made an insignificant descent today against the Japanese Yen, from 105.50 to 104.66, which are which are the first resistance and support levels respectively for the currency couple today. If the negative trend deepens, next support further down is expected at the lower limit of the consolidation at 103.70, the break of which would open potential drop towards 103.00. Next resistance upwards is given at the 106.50 level, followed by 107.30.

Technical resistance levels: 105.60 106.50 107.30
Technical support levels: 104.65 103.70 103.00

Trading range: 104.70 - 105.35

Trend: Upward

Buy at 104.84 SL 104.54 TP 105.24

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Today's Market Outlook - By Windsor Brokers Ltd

2008-06-02T04:09:00.000-07:00

Today's Market Outlook

EURUSD

Bounced off 1.5285, 08 May low, to reach 1.5814/18 highs on 22/27 May, retracing over 61.8% of the 1.6020/1.5285 decline. Fresh weakness followed, with break below 1.5692 support, marking top. Losses so far reached 1.5461 on 30 May, ahead of recovery attempt, with gains being so far capped by 1.5569/68. If the later remains intact, this will mark lower top for fresh attempt towards 1.5461. Clearance of 1.5569, however, would confirm today's 1.5514 as a higher low, ahead of fresh push higher to target 1.5607/61 instead.

Res: 1.5569, 1.5589, 1.5607, 1.5661
Sup: 1.5514, 1.5486, 1.5461, 1.5448

GBPUSD

Has so far retraced over 61.8% of the 2.0024/1.9361 decline, as bounce off 1.9361 reached 1.9848/49 highs on 22/23 May. Choppy action with a slight downside bias was then see, reaching 1.9672/83 lows on 29/30 May before bouncing to 1.9823. Reversal from there cleared 1.9734/30 supports, completing a short-term top, with 1.9595 being reached so far. Further losses now seen towards 1.9585/54, possibly 1.9535/03 on a break.

Res: 1.9672/1.9683, 1.9708, 1.9745
Sup: 1.9585, 1.9554, 1.9540, 1.9503

USDJPY

Bounce from 102.73, 22 May higher low, has exceeded previous 02 May high at 105.70, reaching 105.87 on 29 May. Pullback is now under way, with loss of 105.24/12 suport zone, triggering fresh losses to 104.66 so far. Short-term bulls, however, remain in play, with higher low above 104.61/46 sought for fresh attempt higher. Regain of 105.24/52 needed to re-focus 105.70/87.

Res: 105.12, 105.24, 105.52, 105.54
Sup: 104.61, 104.46, 104.35, 103.89

USDCHF

Extended losses from 1.0625, 08 May recovery high, to reach 1.0216 on 23 May, ahead of recovery. Upside clearance of 1.0355 completed a short-term base, with gains reaching 1.0523/26 on 29/30 May, ahead of the latest retreat. Attempts to build a higher low at 1.0409 have failed, delaying hopes of a fresh rise to 1.0573/89 and warning of a return to 1.0365/55

Res: 1.0444, 1.0470, 1.0507, 1.0526
Sup: 1.0388, 1.0365, 1.0355, 1.0300

Windsor Brokers Ltd
http://www.windsorbrokers.biz

Forex Technical Analytics - By FOREX Ltd

2008-06-02T04:05:00.000-07:00

Forex Technical Analytics

CHF

The assumed test of the nearest supports has been confirmed but further events with strengthening of bearish activity were not a positive moment for realization of the pre-planned buyers' positions. Taking into account the indicated advantage of sales' activity because of chosen strategy in a choice of planning priorities, we assume a possibility of pair return to resistance range 1.0460/80, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term sales on condition of formation of topping signals the targets will be 1.0380/1.0400 and/or further breakout variant up to 1.0320/40, 1.0280/1.0300. An alternative for buyers will be above 1.0540 with the targets 1.0580/1.0600, 1.0620/40.

GBP

The assumed test of the key resistance range has been confirmed at the end of trading day but the relative rise of bullish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned short positions. At present evaluating the situation as an uncertain one concerning a choice of planning priorities by features of relative activity strengthening of both parties, we assume a possibility of pair return to supports 1.9680/1.9700, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 1.9740/60, 1.9820/40 and/or further breakout variant up to 1.9880/1.9900, 1.9960/80, 2.0000/20. An alternative for sales will be below 1.9640 with the targets 1.9580/1.9600, 1.9520/40.

JPY

The assumed test of the key supports has not been confirmed and general result of previous trading day with activity fall of both parties did not reveal the individual features for a choice of planning priorities for today. Hence we assume a possibility of range movement of the rate with a preservation of earlier composed trading plans almost without changes. So we assume a possibility of further rate correction for which the key supports will be 104.80/105.00, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 105.40/60, 105.90/106.00 and/or further breakout variant up to 106.40/60, 106.80/107.00. An alternative for sales will be below 104.40 with the targets 103.90/104.00, 103.40/50, 102.80/103.00.

EUR

The assumed test of the key resistance range has been confirmed but the relative rise of bullish activity revealed by OsMA indicator did not dispose to immediate realization of the pre-planned short positions. At present taking into account the existent minimum of buyers' advantage as a feature of incompletion of bullish development we assume a possibility of pair return to supports 1.5490/1.5510, where it is recommended to evaluate the activity development according to the charts of shorter time interval. For short-term buyers' positions on condition of formation of topping signals the targets will be 1.5540/60, 1.5600/20 and/or further breakout variant up to 1.5660/80, 1.5720/40, 1.5780/1.5800. An alternative for sales will be below 1.5460 with the targets 1.5400/20, 1.5340/60, 1.5300/20.

FOREX Ltd
www.forexltd.co.uk

Currency Pair Daily Forecasts - By Finotec Group

2008-06-02T02:51:00.000-07:00

Currency Pair Daily Forecasts

EUR/USD Daily Technical Reports

EUR/USD-market strategy can be a sell till the level 1.5509$

Technical oscillators supporting the bearish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend, although slightly over sold according to Bollinger on the 30th of May.

USD/JPY Daily Technical Reports

USD/JPY-market strategy can be a buy till the level 106.04

Technical oscillators supporting the bullish trend for the currency pair

GBP/USD Daily Technical Reports

GBP/USD-market strategy can be a sell till the level 1.9612$

Technical oscillators supporting the bearish trend for the currency pair

To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line.

USD/CHF Daily Technical Reports

USD/CHF-market strategy can be a buy till the level 1.0581

Technical oscillators supporting the bullish trend for the currency pair

Finotec Group Inc.
http://www.finotec.com/

Daily Forex Analysis - By FOREXYARD

2008-06-02T02:49:00.000-07:00

Daily Forex Analysis

Headlines

ISM Manufacturing On Tap.

Market Trend

	EUR/USD	GBP/USD	USD/JPY	USD/CHF	AUD/USD	EUR/GBP
Daily Trend
Weekly Trend
Resistance	1.5610	1.9760	106.00	1.0510	0.9610	0.7980
	1.5590	1.9740	105.80	1.0490	0.9590	0.7960
	1.5560	1.9710	105.50	1.0460	0.9560	0.7930
Support	1.5490	1.9640	104.80	1.0390	0.9490	0.7860
	1.5460	1.9610	104.50	1.0360	0.9460	0.7830
	1.5440	1.9590	104.30	1.0340	0.9440	0.7810

Economic News

USD

A batch of disappointing economic data left the greenback in bearish territory on Friday to end what had been a positive week for the USD. Amidst an already shaky US economic outlook, personal consumer spending indices showed a slowdown in April as both income and spending numbers came in at 0.2%. The drop in consumption numbers left some investors worried that the US is a long way from the recovery that has been mentioned for the last month or so. Combined with rising food and oil prices, and the abysmal housing market, a poor showing from the University of Michigan Consumer Sentiment report, listed at its lowest mark in 28 years resulted in a correction of the weeks bullish dollar trend.

The USD spent the early part of the week recovering versus a batch of its major currency rivals, most notably the EUR. The EUR/USD pair spent most of the week in a bearish trend of just under 400 pips, until Friday as the pair re-adjusted to close the week at 1.5557. Friday's hefty US news day was the major factor in the 84 pip rise in the EUR/USD. Along with Personal Spending and Consumption indices and the Michigan Consumer Sentiment report discussed earlier, we also saw Core PCE Price Index and Chicago PMI. Both provided little to turn around bearish results. Looking ahead to this week, an array of US data on tap should prove to be essential to dollar movement. The news week will be highlighted by ADP Nonfarm Employment Change, ISM Non-Manufacturing Composite, Unemployment Claims and a busy Friday which will include Nonfarm Employment Change and the Unemployment Rate. Friday will likely be the main contributor to USD volatility, as historically Non Farm Payrolls is one of the more volatile events on the news calendar. The mark is expected to show a falling trend for the fifth consecutive month. We will also hear twice from Fed Chairman Ben Bernanke, who is expected to address the delicate US economic situation.

On tap for today, we expect the release of ISM Non-Manufacturing Prices and Index. The indices are not expected to vary much from last month's marks, which should turn investor attention to outside news events. Still expect steady liquidity in and around the 14:00 GMT release of the ISM figures.

EUR

Last week the EUR saw bearish trends against most of its major currency counterparts. At the beginning of the week the EUR\USD pair was set at 1.5780 and by the end of the week it fell as low as 1.5474.

Last week some crucial data was delivered regarding the EUR. The German Consumer Confidence demonstrated an ongoing decrease in confidence within German consumers regarding their economy. The German Consumer Price Index showed a 0.6% price increment, reflecting an increase in inflation in the Euro-Zone's strongest economy. The Consumer Price Index Flash Estimate reflected increasing inflation in the Euro-zone as well. At the end of the week the German Retail Sales fell unexpectedly for the second month in a row, enhancing investors' concerns regarding a forthcoming recession.

Today, the Manufacturing Purchasing Manager's Index will be published, and it is forecasted by analysts to come at 50.5, similar to last month's figure, yet it should not have a large impact over the EUR. Later on, European Central Bank (ECB) President Trichet will deliver a speech at the ECB's 10th Anniversary conference. Investors are advised to search for clues regarding future monetary policy and interest rate shifts. Traders should also focus on news arriving from the U.S, as they should have an influence on EUR developments for today.

JPY

The Yen saw bearish momentum against most of its currency pairs losing tens of pips against each one. This trend took place last week during the last trading session on Friday. The only JPY related cross or pair that was not wise to go short on was the USD/JPY as the pair range traded for the day. The Japanese Housing Starts did not help the Yen, as the new housing market in Japan continued to decline by -8.7%.

The Average Cash Earnings came in earlier today at 0.6%, which is 0.9% less than the previous publication. Later on today, the Monetary Base result is expected to have a positive effect on the Yen, since the forecast is higher than the previous reading. The only other indicators expected to come out of Japan this week and have any potential to significantly impact the JPY are BOJ Governor Shirakawa's speech and Capital Spending. Both releases should be announced on Tuesday, which will cause the Yen to experience a lot of volatility. It is advisable for investors to follow the news of the Yen's counterparts today to derive a superior strategy.

Technical News

EUR/USD

After the sharp drop to the 1.5450 level there has been a local bullish correction to the 1.5500 zone. The pair is now shaping into a bearish formation again which is supported by a strong bearish cross on the Slow Stochastic of the 4 hour chart. It appears that the pair is accumulating bearish momentum and that going short might be a good choice today.

GBP/USD

The cable is the middle of a bearish trend which appears to still have a strong bearish momentum. There has been a bearish cross on the daily Slow Stochastic which implies that the bearish price direction might have some more steam in it for the next move. Going short appears to be preferable today.

USD/JPY

The bullish channel continues with full steam after a small set back of range trading which occurred for the last 10 days. All oscillators are showing regenerated bullish momentum, and being on the buy side looks like the right side to be on.

USD/CHF

The daily chart is showing range trading with no specific price direction and oscillators that float in neutral territory. The 4 hour chart is showing moderate bullish momentum due to a bullish cross on the Slow Stochastic, which means that forex traders might have a good shot at going long with very tight stops.

The Wild Card

GBP/JPY

There is a very distinct flag forming n the daily chart, as the pair now approached the tip of the flag with moderate bearish momentum. It appears that a target price of 205.00 is quite imminent, and there is a possibility of a breach attempt. This gives forex traders a great opportunity to join in a bearish trend with a possible breach in the very near future.

Indicators

Date	Time (GMT)	Country	Event	Period	Previous	Forecast	Importance
2008-06-02	00:30:00	AUD	TDMI Inflation Gauge	m/m	0.5%	*	***
2008-06-02	01:30:00	AUD	Retail Sales	m/m	0.2%	0.2%	****
2008-06-02	01:30:00	AUD	Company Gross Operating Profits	q/q	4.1%	1.5%	*
2008-06-02	01:30:00	JPY	Average Cash Earnings	y/y	1.5%	1.3%	*
2008-06-02	05:45:00	CHF	GDP	q/q	0.9%	0.3%	***
2008-06-02	06:30:00	AUD	Index of Commodity Prices	y/y	21.8%	*	***
2008-06-02	07:30:00	CHF	SVME PMI		56.7	55.4	***
2008-06-02	08:00:00	EUR	Manufacturing PMI (r)		50.5	50.5	**
2008-06-02	08:30:00	GBP	Manufacturing PMI		51.0	51.0	****
2008-06-02	08:30:00	GBP	Mortgage Approvals		64K	64K	*
2008-06-02	08:30:00	GBP	Net Lending to Individuals	m/m	8.1B	8.0B	*
2008-06-02	13:30:00	EUR	ECB President Trichet Speaks		*	*	****
2008-06-02	14:00:00	USD	ISM Manufacturing Index		48.6	48.6	*****
2008-06-02	14:00:00	USD	ISM Manufacturing Prices		84.5	85.0	****
2008-06-02	14:00:00	USD	Construction Spending	m/m	-1.1%	-0.5%	**
2008-06-02	23:50:00	JPY	Monetary Base	y/y	-2.8%	-0.9%	*

FOREXYARD

Technical Analysis Daily: GBP/USD - By iFOREX.bg

2008-06-02T02:47:00.000-07:00

Technical Analysis Daily: GBP/USD

GBP/USD 1.9635

GBP/USD Open 1.9818 High 1.9817 Low 1.9612 Close 1.9810

The British Pound descended significantly against the US Dollar today from 1.9817, broke the past support level at 1.9645 and went down to 1.9600, which are the first resistance and support levels respectively for the currency couple today. If the negative sentiment continues, next support is expected at 1.9540, followed by 1.9480. In upward direction next resistance level today is expected at 1.9930, followed by 2.0000.

Technical resistance levels: 1.9820 1.9930 2.0000
Technical support levels: 1.9600 1.9540 1.9480

Trading range: 1.9645 - 1.9575

Trend: Downward

Sell at 1.9635 SL 1.9665 TP 1.9585

iFOREX.bg Forecasts and Trading Signals
http://www.zifx.com

Daily FX Report - By Varengold Bank

2008-06-02T02:45:00.001-07:00

Daily FX Report

Good morning from warm and sunny Hamburg. We started the new FX-week with a fast market that woke up everybody already.

Markets review

The retail sales in Australia fell 0,2% in April while the market expected an increase. The AUD closed against the USD with a loss 0,5% at 0,9525 after hitting a low of 0,9517. Moreover, the TD Securities - Melbourne Institute reports that the monthly inflation rose 0,3% in May so the annual inflation rate grew to 4,5% which is an 5 year high.

The USD drifts upwards against the EUR as investors await a lot of key US data and the speech of Fed Governor Ben Bernanke as well as ECB President Trichet this week. Today the EUR/USD is almost unchanged, only 0,2% down at 1,5525. The USD edges down against the JPY on profit taking so the JPY closed down 0,1% at 105,4 after dipping a low at 105. The CAD broke above the 14 - day moving average of 0,9931 and trades at 0,9950 currently but it is still below the 50-, 100-, and 200- days moving average.

In the UK worries about the housing and mortgage market dominate the market. The CEO of Bredford & Bringley's, Britain's largest buy-to-let mortgage lender, quit and the company plans an unscheduled trading update. The update comes less than a month after the embattled lender surprised investors with an emergency cash call and is likely to boost concerns about the wider UK mortgage market. The Sterling is down 0,67% against the USD to a low at 1,9690.

Technical analysis

EUR/USD

The EUR fell against the USD last week. At the beginning of May the rate supported near 1,54. After its comeback up to 1,58 the EUR could be supported on this level again.

EUR/CHF

In EUR/CHF was established a horizontal cotter where both lines could meet each other at the middle of June. When there is a break through one of its cotter lines this break could be a sign for the next direction of movement.

Pivot Points - Daily FX Support and Resistance Levels

Daily Calendar & Key FX Events

Varengold Bank

IMPORTANT NOTIFICATION TO BE READ IN CONJUNCTION WITH THE CONTENTS OF THIS DOCUMENT