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INTRA-DAY USD/JPY:

Last Update At 04 Aug 2010 23:05 GMT

Range Forecast
86.10 / 86.40


Resistance/Support
R: 86.65 / 86.89 / 87.10
S: 85.95 / 85.67 / 85.32

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INTRA-DAY EUR/USD:

Last Update At 05 Aug 2010 02:08 GMT

Range Forecast
1.3135 / 1.3155


Resistance/Support
R: 1.3183/1.3212/1.3240
S: 1.3131/1.3107/1.3057

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INTRA-DAY USD/CHF:

Last Update At 04 Aug 2010 23:29 GMT

Range Forecast
1.0505 / 1.0545


Resistance/Support
R: 1.0555/1.0588/1.0623
S: 1.0502/1.0477/1.0434 ...

USDCHF broke above 1.0475 resistance, suggesting that a cycle bottom had been formed at 1.0347 level on 4-hour chart. Further rally is still possible later today and target is to test 1.0675 key resistance. As long as this level holds, the price action in the trading range between 1.0347 and 1.0675 is treated as consolidation of downtrend from 1.1730 (Jun 1 high), one more fall to 1.0200 is still possible after consolidation. However, above 1.0675 will indicate that the fall from 1.1730 had completed at 1.0347 already, then the following upward movement could bring price to 1.1000 area.



Daily Forex Forecast

Market Review - 04/08/2010 22:58 GMT

Dollar rebounds from a fresh eight-month low against yen on upbeat U.S. economic data

The greenback rebounded strongly from an 8-month low against the Japanese yen on Wednesday, as upbeat U.S. data prompted investors to unwind short positions in dollar.

Although the greenback fell below Tuesday's low of 85.67 against the Japanese yen in Asia to a fresh 8-month low of 85.32 on risk aversions after triggering stops at 85.50 and the pair traded narrowly in Europe, dollar rebounded strongly at NY opening after the release of better-than-expected U.S. employment and services data, which prompted investors to unwind short positions in the greenback, and the pair ...

Welcome to the FXReturn.com London Forex Market Call for August 5th.,2010. GBP/USD: Closes on the lows of the session as profit taking sets in. The Pound pierced Tuesday's low at 1.5860 which could ignite selling down to the 10 day average at 1.5673. A piercing of 1.5965 will encourage buying into our price objective of 1.6030. 1.5813 is near term support. Technicals are still positive but are becoming overbought | GOLD: Trades into the 1200 region only to reject that area but still closes positive on the session. Technicals are still positive indicating that there could be more upside ahead in the next few trading session. 1183.6 is support. A failure of this level could encourage selling down to pivot support at 1156.3 | Daily FX Forum visitors ...