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[B]Bias: [/B] While 110.22-39 supports I remain cautiously bullish for 112.20-58 initially

Price came within 5 pips of the week's low on Friday but recovered well to retest the 110.87 peak. I feel the upside is begging but we just have to be a little careful around the 110.87-12 resistance. Until that breaks there is risk of a dip to the 110.22-39 support. While this holds I will look for extension higher through 110.87-12 and then extend through 111.46-79 and 111.95 en route the 112.20-58 resistance - and I favor the higher end of the range. This should cause a correction.

Only if the 110.20 area breaks will I get a bit edgy and then see risk of a recycling back to the 109.52-57 lows and then the possibility ...

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INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY


USD/JPY : 89.36

Last Update At 27 Jun 2010 22:43GMT

Expect initial choppy trading following w/end's
G20 meeting n dlr's close at Friday's low of 89.21 shud pressure price twd 88.95, however, as recent decline is 'losing momentum', further steep fall is not envisaged n reckon 88.60/70 wud hold fm here.


Buy dlr on next decline to 89.05 for 89.45 n if
price recovers to 89.65 1st, sell for 89.25.


Range Forecast
89.25 / 89.65


Resistance/Support
R: 89.51 / 89.78 / 89.98
S: 89.21 / 88.95 / 88.60

http://www.acetraderfx.com

USDCHF continues its bearish movement and the fall from 1.1730 extends to as low as 1.0896 level. Deeper decline is still possible in a couple of days, and next target would be at 1.0800 area. Resistance is at the upper border of the falling price channel on 4-hour chart, now at 1.1010, as long as the channel resistance holds, downtrend could be expected to continue. Only a clear break above the channel resistance could take price back to 1.1100 zone.



Daily Forex Forecast

Market Review - 25/06/2010 21:39 GMT

Euro rebounds strongly as U.S. stocks and commodities advance

Euro pared its initial losses and rose on Friday as gains in U.S. stocks and crude oil boosted risk appetite while commodity-linked currencies also advanced against the dollar.

Euro briefly rose to 1.2352 in European morning but the single currency tumbled to 1.2254 in European mid-day. The pair, however, managed to rebound from there and despite euro's retreat to 1.2381 after the weaker-than-expected U.S. GDP data, the single currency later rallied to an intra-day high of 1.2396 in NY mid-day on recovery in U.S. stocks and crude oil. S&P 500 index ended the day up by 0.29% while NASDAQ also ...