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INTRA-DAY EUR/USD OUTLOOK

Last Update At 08 Oct 2010 10:12 GMT

Rate : 1.3880

Although euro briefly dipped to 1.3867 following
Fed Bullard's dlr bullish comments, a breach of yesterday's low at 1.3857 needed to extend nr term corrective fall fm 1.6030 to 1.3820/30 but loss of momentum is likely to keep price abv 1.3799.

Reinstate short on recovery n only abv 1.3925/30 signals intra-day low is made, 1.3945/50 later.

Range Forecast
1.3865 / 1.3895

Resistance/Support
R: 1.3929/1.3962/1.3998
S: 1.3867/1.3857/1.3823

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INTRA-DAY EUR/USD OUTLOOK

Last Update At 08 Oct 2010 04:13 GMT

Rate : 1.3951

Euro's intra-day stronger-than-expected rebound to 1.3962 suggests caution on our short, however, as y'day's sharp retreat fm an 8-month high of 1.4030 to 1.3857 suggests temp. top is made n as long 1.3962 holds, retreat to 1.3903 is still likely.

Hold short for weakness to 1.3900 with stop as
indicated, break risks gain to 1.3990/98.

Range Forecast
1.3925 / 1.3962

Resistance/Support
R: 1.3962/1.3998/1.4030
S: 1.3857/1.3823/1.3809

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Market Review - 07/10/2010 22:09 GMT

Euro erases its gain against dollar on profit-taking

The single currency pared its gain from a fresh 8-month high against dollar on Thursday, as investors booked profits on their recent longs and awaited the release of U.S. jobs data on Friday. U.S. currency tanked to a fresh 15-year low of 82.11 against the Japanese yen b4 rebounding on dlr's rebound elsewhere.

The single currency ratcheted higher in Asia and rose sharply above Wednesday's high of 1.3949 in European morning. Despite euro's gain to a fresh 8-month high of 1.4030 after the release of U.S. initial jobless claims (which fell to 445.0K, the lowest level in three months,versus the expectation ...

INTRA-DAY GBP/USD: 1.5862

Last Update At 07 Oct 2010 03:10 GMT

As cable has remained under pressure partly due
to cross-selling in sterling in Asia, suggesting
y'day's intra-day rebound fm 1.5833 has ended at 1.5915 (NY) n below said sup wud extend near term decline fm 1.5840 to 1.5800/05 later.

Turn short on recovery for 1.5835 1st n only abv 1.5900 wud risk re-test of aforesaid NY high.

Range Forecast
1.5845 / 1.5875

Resistance/Support
R: 1.5900/1.5915/1.5940
S: 1.5833/1.5805/1.5750

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