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Technical analysis >  FOREX COMMENTARY 16.08.2004
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*profi-forex*



Joined: 10 Apr 1980
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PostPosted: Mon Aug 16, 2004 1:44 pm    Post subject: quote

16.08.2004 (6:30am Us Time).

TODAY`S DATA:

8:30 USD Empire State Manufacturing Index (Aug) PREV. 36.54 FOR. 32.15

8:30 CAD New Motor Vehicle Sales m/m (Jun) PREV.-2.6% FOR. -2.0%

130 USD NAHB Housing Market Index (Jul) PREV. 67 FOR 66

19:50 GBP RICS House Price Survey (Jul) PREV. 17 FOR. 10

USD/JPY(CURRENT LEVEL 110.92) – FRIDAY`S FATAL US DATA WEAKED USD TO 110.40 REGION. TODAY DURING JAPANESE SESION WE TESTED THE NEST MINIMUM AT 110.32 REGION. NOW WE ARE WITNESSES THE CORECTION, WHICH SHOULD GO TO 111.00/40. UNTILL COURSE IS BELOW 112.50 STILL IS A CHANCE FALL BELOW 110.00.

EUR/USD (CURRENT LEVEL 1.2339) – AS WE EXPECT FRIDAY`S CLOSE ABOVE 1.2350 SUGGEST THAT LONG POSITION WAS REBUILT AT 1.2320 AND THERE SHOULD FIND NEW TRADERS EAGER TO BUY EUR AND IN THIS WEEK WE SHOULD SEE TEST 1.2500 REGION.

USD/CHF (CURRENT LEVEL 1.2427) – AS WE EXPECT AT FRIDAY 1.2490 REGION WAS BROKEN AND WE REACH MINIMUM AT 1.2380 REGION. AT 1.2470/80 SHOULD FIND NEW TRADARS EAGER TO BUY CHF.

GBP/USD ( CURRENT LEVEL 1.8441) – FRIDAY`S CLOSE ABOVE 1.8340/60 CHNGE NEGATIVE IMAGE OF GBP, AT 1.8340/60 SHOULD APPEAR THE NEXT DEMAND FOR GBP. IN THIS WEEK BULLS SHOULD MANAGE RESISTANCE AT 1.8460 AND THEN WE SHOULD SEE TEST 1.8550 REGION.
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