Free Forex Trading

EUR/USD
Date: Wed, 16 January 2008 13:10:05
Resistance levels: 1.4850/1.4900/1.4960
Support levels: 1.4780/1.4750/1.4650

EUR/USD has eased below 1.4800 over the last trading hours Today focus will be on US Core Consumer Price Index at 13:30 GMT The consensus is at 0.2% No change in our view The uptrend remains intact for test beyond 1.4900 towards 1.4960-65 previous high area in mid and longer term . In short term, weak US data may boost price towards 1.4850 if the number comes out at 0.1% or more negative On the other side, further ease below 1.4760-50 area and even 1.4700 over the next trading sessions is not ruled out on US Core CPI at 0.3% or higher .

Strategy-neutral.

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GBP/USD
Date: Wed, 16 January 2008 13:10:04
Resistance levels: 1.9660/1.9750/1.9830
Support levels: 1.9600/1.9560/1.9500

GBP/USD has traded below 1.9600 over the last trading sessions We have booked 60 pip profit over the first part and 140 pip profit for the rest of our Long position On the upside, beyond 1.9660 leaves chances of further recovery towards 1.9750 later today and even 1.9830 . On the other side, further downmove towards 1.9500 later today on stronger than expected US CPI and 1.9380 in longer term may be seen.

Holding GBP/USD Long at 1.9600,Stop-loss-1.9620( up from 1.9560) ,Take profit-1.9660( 1.9740)

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USD/JPY
Date: Wed, 16 January 2008 13:10:03
Resistance levels: 106.70/107.20/108.00
Support levels: 106.00/105.50/104.20

USD/JPY has fallen further below 106.00 our next target earlier today as it was suggested No change in our view The bias remains bearish for further downmove below 106.00 and even 104.30 in longer termn First Support comes around 106.00 On the upside, a break above 107.20 Resistance again is needed for recovery towards 108.00 and 109.70 highs in longer term. In short term, above 106.50 squeezes price to 107.20 later today on better than expected US CPI Index.

Strategy-neutral.

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