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Market Analysis -
Forex Currency Outlook
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Friday, 04 July 2008 |
| Euro-Yen Daily Forex Outlook | | 
|  Price continues to consolidate as bulls seems to be losing it momentum; resistance now at 169.12 (yesterday high); downside support now turns to 166.50 (38.2% Fibonacci retracement level)
| | Daily Resistance Levels | | 170.84 | 61.8% Fibonacci Extension Level (possible strong resistance) | | 169.94 | 50% Fibonacci Extension Level from 166.07 | | 169.45 | Historic High; Week 26 High; 26 June High | | 169.12 | 03 July High
| | Daily Support Levels | | 166.50 | 38.2% Fibonacci Retracement Level from 169.45
| | 165.59 | 50% Fibonacci Retracement Level | | 164.67 | 61.8% Fibonacci Retracement Level | | 164.45 | Ascending Trend Line Weekly Support | | 162.67 | 38.2% Fibonacci Weekly Retracement Level from 169.45 | 161.72
| 100% Fibonacci Retracement; Week 23 Low
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| Euro-Yen 4-Hour Forex Outlook | |
| Momentum is flat after price retraced from 169.12 and now next support seen at 167.28 if break below like to go further down to 166.50; upside resistance above 168.40 would turn outlook back to the topside | | 4-Hour Resistance Levels | | 169.45 | 100% Fibonacci Retracement; Historic High
| | 169.12 | 03 July High | | 168.40 | 61.8% Fibonacci Retracement Level | | 168.18 | 50% Fibonacci Retracement Level | | 167.95 | 38.2% Fibonacci Retracement Level from 167.23 | | 4-Hour Support Levels | | 167.28 | 61.8% Fibonacci Retracement Level from 169.12 | | 167.23 | 03 July Low | | 166.50 | 38.2% Daily Fibonacci Retracement Level | | 166.07 | 30 June Low | | 165.59 | Key Intra-day Support Level (50% Fibonacci Daily Retracement Level) | | 164.95 | Key Support Level |
| Pound-Dollar Daily Forex Outlook | |
|  Daily outlook turns flat after Dollar rallied against Pound yesterday with top at 2.0005 formed; resistance now brought lower to 1.9926; downside break below 1.9745 would turn the momentum bearish
| | Daily Resistance Levels | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April High | 2.0005
| 01 July High
| | 1.9972 | 02 July High | | Daily Support Levels | | 1.9845 | 38.2% Fibonacci Retracement Level (2.0005 to 1.9585) | | 1.9795 | 50% Fibonacci Retracement Level | | 1.9745 | 61.8% Fibonacci Retracement Level | | 1.9621 | Possible Support Level
| | 1.9585 | 23 June Low |
| Pound-Dollar 4-Hour Forex Outlook | | 
| Momentum still down intra-day; break above 1.9926 should turn the outlook upside; downside support at 1.9799 (yesterday low) with 1.9745 next target | | 4-Hour Resistance Levels | 1.9972
| 02 July High
| | 1.9926 | 61.8% Fibonacci Retracement Level | | 1.9902 | 50% Fibonacci Retracement Level | | 1.9878 | 38.2% Fibonacci Retracement Level from 1.9799 | | 4-Hour Support Levels | | 1.9845 | 38.2% Daily Fibonacci Retracement Level | | 1.9795 | 50% Daily Fibonacci Retracement Level | | 1.9745 | 61.8% Daily Fibonacci Retracement Level |
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Market Analysis -
Forex Currency Outlook
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Thursday, 03 July 2008 |
| Euro-Yen Daily Forex Outlook | |
| Outlook is flat as MACD below waterline although oscillators showing recovery to the upside; resistance now first at 168.62 (yesterday high) with break above should re-test 169.45 before 169.98 (38.2% extension from 167.03) | | Daily Resistance Levels | | 170.84 | 61.8% Fibonacci Extension Level (possible strong resistance) | | 169.94 | 50% Fibonacci Extension Level from 166.07 | | 169.45 | Historic High; Week 26 High; 26 June High | | 168.62 | 02 July High
| | Daily Support Levels | | 166.50 | 38.2% Fibonacci Retracement Level from 169.45
| | 165.59 | 50% Fibonacci Retracement Level | | 164.67 | 61.8% Fibonacci Retracement Level | | 164.45 | Ascending Trend Line Weekly Support | | 162.67 | 38.2% Fibonacci Weekly Retracement Level from 169.45 | 161.72
| 100% Fibonacci Retracement; Week 23 Low
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| Euro-Yen 4-Hour Forex Outlook | | 
| Momentum is up with support now at 167.68; break below 167.09 would turn the outlook neutral | | 4-Hour Resistance Levels | | 169.45 | 100% Fibonacci Retracement; Historic High
| | 168.62 | 02 July High
| | 4-Hour Support Levels | | 167.68 | 38.2% Fibonacci Retracement Level from 168.62 | | 167.39 | 50% Fibonacci Retracement Level | | 167.09 | 61.8% Fibonacci Retracement Level | | 166.50 | 38.2% Daily Fibonacci Retracement Level | | 166.07 | 30 June Low | | 165.59 | Key Intra-day Support Level (50% Fibonacci Daily Retracement Level) | | 164.95 | Key Support Level | | 164.45 | Ascending Trend Line Weekly Support |
| Pound-Dollar Daily Forex Outlook | |
| Daily outlook remains slightly bullish above 1.9827 but momentum is weakening after successive disappointing reports on UK PMI; US NFP could decide if Dollar stays below 21 April High of 2.0025; downside support now at 1.9845 level with break below 1.9745 would turn the outlook neutral | | Daily Resistance Levels | | 2.0197 | 27 March 2008 High | | 2.0113 | 138.2% Fibonacci Extension Level | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April High | 2.0005
| 01 July High
| | Daily Support Levels | | 1.9879 | 30 June Low | | 1.9845 | 38.2% Fibonacci Retracement Level from 2.0005 | | 1.9795 | 50% Fibonacci Retracement Level | | 1.9745 | 61.8% Fibonacci Retracement Level | | 1.9621 | Possible Support Level
| | 1.9585 | 23 June Low |
| Pound-Dollar 4-Hour Forex Outlook | |
| Momentum now on the downside; ADP report failed to support Dollar as movement bounced off from 38.2% Daily Fibonacci level upside resistance now at 1.9972 (yesterday high) before 2.0005; downside support at 1.9907 and break below 1.9883 could re-test 1.9845 | | 4-Hour Resistance Levels | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April High | | 2.0005 | 01 July High | 1.9972
| 02 July High
| | 4-Hour Support Levels | | 1.9907 | 38.2% Fibonacci Retracement Level from 1.9946 | | 1.9883 | 61.8% Fibonacci Retracement Level | | 1.9845 | 38.2% Daily Fibonacci Retracement Level | | 1.9795 | 50% Daily Fibonacci Retracement Level | | 1.9745 | 61.8% Daily Fibonacci Retracement Level |
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Market Analysis -
Forex Currency Outlook
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Wednesday, 02 July 2008 |
| Euro-Yen Daily Forex Outlook | |
| Outlook unchanged as the pair continue to trade above 38.2% daily retracement; two long shadows suggest that bulls are still holding strength with Stochastic now revealing a possible crossover to the upside; resistance at 169.45 before 169.98 (38.2% extension from 167.03) | | Daily Resistance Levels | | 171.81 | 61.8% Fibonacci Extension Level (possible strong resistance) | | 170.90 | 50% Fibonacci Extension Level | | 169.98 | 38.2% Fibonacci Extension Level from 167.03 | | 169.45 | Historic High; Week 26 High; 26 June High | | 168.16 | 61.8% Fibonacci Retracement Level from 166.07 | | Daily Support Levels | | 166.50 | 38.2% Fibonacci Retracement Level from 169.45
| | 165.59 | 50% Fibonacci Retracement Level | | 164.67 | 61.8% Fibonacci Retracement Level | | 164.45 | Ascending Trend Line Weekly Support | | 162.67 | 38.2% Fibonacci Weekly Retracement Level from 169.45 | 161.72
| 100% Fibonacci Retracement; Week 23 Low
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| Euro-Yen 4-Hour Forex Outlook | |
| Momentum is flat as oscillators continue to move higher; unable to break below 166.07 as bulls slowly gaining strength on the upside; break below 166.50 should re-test yesterday low at 166.07 | | 4-Hour Resistance Levels | | 169.45 | 100% Fibonacci Retracement; Historic High
| 168.58
| Possible Resistance Level
| | 168.16 | 61.8% Fibonacci Retracement Level | | 4-Hour Support Levels | | 167.03 | 38.2% Fibonacci Retracement Level from 167.63 | | 166.67 | 61.8% Fibonacci Retracement Level | | 166.50 | 38.2% Daily Fibonacci Retracement Level | | 166.07 | 30 June Low | | 165.59 | Key Intra-day Support Level (50% Fibonacci Daily Retracement Level) | | 164.95 | Key Support Level | | 164.45 | Ascending Trend Line Weekly Support |
| Pound-Dollar Daily Forex Outlook | |
| Daily outlook is bullish but failed to sustain its momentum above 2.0005 due to disappointing UK Manufacturing report and US ISM data reported positive result; 21 April High of 2.0025 still the next resistance; downside support now at 1.9845 level with break below 1.9745 would turn the outlook neutral | | Daily Resistance Levels | | 2.0197 | 27 March 2008 High | | 2.0113 | 138.2% Fibonacci Extension Level | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April High | 2.0005
| 01 July High
| | Daily Support Levels | | 1.9879 | 30 June Low | | 1.9845 | 38.2% Fibonacci Retracement Level from 2.0005 | | 1.9795 | 50% Fibonacci Retracement Level | | 1.9745 | 61.8% Fibonacci Retracement Level | | 1.9621 | Possible Support Level
| | 1.9585 | 23 June Low |
| Pound-Dollar 4-Hour Forex Outlook | |
| Intra-day MACD pointing low momentum now flat; upside resistance still now at 2.0005 (yesterday high); downside support at 1.9879; outlook is choppy at the moment | | 4-Hour Resistance Levels | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April High | | 2.0005 | 01 July High | | 4-Hour Support Levels | | 1.9879 | 30 June Low | | 1.9845 | 38.2% Daily Fibonacci Retracement Level | | 1.9795 | 50% Daily Fibonacci Retracement Level | | 1.9745 | 61.8% Daily Fibonacci Retracement Level |
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Market Analysis -
Forex Currency Outlook
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Tuesday, 01 July 2008 |
| Euro-Yen Daily Forex Outlook | |
| Rejection with a long shadow above 38.2% retracement after the first trading day this week; outlook is flat with upside still intact as long as 166.50 level holds with break below should see price move lower towards 164.67; upside resistance at 169.45 before 169.98 (38.2% extension from 167.03) | | Daily Resistance Levels | | 171.81 | 61.8% Fibonacci Extension Level (possible strong resistance) | | 170.90 | 50% Fibonacci Extension Level | | 169.98 | 38.2% Fibonacci Extension Level from 167.03 | | 169.45 | Historic High; Week 26 High; 26 June High | | Daily Support Levels | | 166.77 | 19 June Low
| | 166.50 | 38.2% Fibonacci Retracement Level from 169.45
| | 165.59 | 50% Fibonacci Retracement Level | | 164.67 | 61.8% Fibonacci Retracement Level | | 164.45 | Ascending Trend Line Weekly Support | | 162.67 | 38.2% Fibonacci Weekly Retracement Level from 169.45 | 161.72
| 100% Fibonacci Retracement; Week 23 Low
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| Euro-Yen 4-Hour Forex Outlook | |
| Momentum is flat as oscillators turned higher; bears must protect 168.16 for the downside rally to continue; break below 166.50 should re-test yesterday low at 166.07 | | 4-Hour Resistance Levels | | 169.45 | 100% Fibonacci Retracement; Historic High
| 168.58
| Possible Resistance Level
| | 168.16 | 61.8% Fibonacci Retracement Level | | 167.76 | 50% Fibonacci Retracement Level | | 167.36 | 38.2% Fibonacci Retracement Level from 166.07 | | 4-Hour Support Levels | | 166.50 | 38.2% Daily Fibonacci Retracement Level | | 166.07 | 30 June Low | | 165.59 | Key Intra-day Support Level (50% Fibonacci Daily Retracement Level) | | 164.95 | Key Support Level | | 164.45 | Ascending Trend Line Weekly Support |
| Pound-Dollar Daily Forex Outlook | |
| Daily outlook is bullish but was contained around 1.9967 before re-test of 21 April High of 2.0025; downside support now at 1.9820 level with break below 1.9730 would turn the outlook neutral | | Daily Resistance Levels | | 2.0197 | 27 March 2008 High | | 2.0113 | 138.2% Fibonacci Extension Level | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April 2008 High | | 1.9967 | 100% Fibonacci Extension Level from 1.9585 | | Daily Support Levels | | 1.9820 | 38.2% Fibonacci Retracement Level from 1.9965 | | 1.9775 | 50% Fibonacci Retracement Level | | 1.9730 | 61.8% Fibonacci Retracement Level | | 1.9621 | Possible Support Level
| | 1.9585 | 23 June 2008 Low |
| Pound-Dollar 4-Hour Forex Outlook | |
| Intra-day MACD pointing low momentum now flat; upside resistance still at 1.9967; downside support at 1.9879; outlook is choppy at the moment | | 4-Hour Resistance Levels | | 2.0033 | 38.2% Fibonacci Weekly Retracement Level | | 2.0025 | 21 April 2008 High | | 1.9967 | 100% Fibonacci Extension Level from 1.9585 | | 4-Hour Support Levels | | 1.9879 | 30 June Low | | 1.9820 | 38.2% Daily Fibonacci Retracement Level | | 1.9775 | 50% Daily Fibonacci Retracement Level | | 1.9730 | 61.8% Daily Fibonacci Retracement Level |
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Market Analysis -
Forex Currency Outlook
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Monday, 30 June 2008 |
 EURJPY 4-Hour Chart | Euro-Yen Weekly Forex Outlook | |
| Trend remains strong on the upside on the weekly chart; first immediate support for this rally will be on 164.45 | | Weekly Resistance Levels | | 180.18 | 161.8% Fibonacci Extension Level from 158.59
| | 171.87 | 100% Fibonacci Extension Level from 158.59 | | 170.00 | Psychological Resistance
| | 169.45 | Historic High; Week 26 High
| | Weekly Support Levels | | 164.45 | Ascending Trend Line Support
| | 162.67 | 38.2% Fibonacci Retracement Level from 169.45
| | 160.58 | 50% Fibonacci Retracement Level | | 158.59 | Week 19 Low
| 158.48
| 61.8% Fibonacci Retracement Level | 151.70
| 100% Fibonacci Retracement; Week 12 Low
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| Euro-Yen Daily Forex Outlook | |
| Daily outlook is flat but oscillators are moving lower; upside still intact as long as 166.50 level holds with break below should see price move lower towards 164.67; upside resistance at 169.45 before 169.98 (38.2% extension from 167.03) | | Daily Resistance Levels | | 171.81 | 61.8% Fibonacci Extension Level (possible strong resistance) | | 170.90 | 50% Fibonacci Extension Level | | 169.98 | 38.2% Fibonacci Extension Level from 167.03 | | 169.45 | Historic High; Week 26 High; 26 June High | | Daily Support Levels | | 166.77 | 19 June Low
| | 166.50 | 38.2% Fibonacci Retracement Level from 169.45
| | 165.59 | 50% Fibonacci Retracement Level | | 164.67 | 61.8% Fibonacci Retracement Level | | 164.45 | Ascending Trend Line Weekly Support | | 162.67 | 38.2% Fibonacci Weekly Retracement Level from 169.45 | 161.72
| 100% Fibonacci Retracement; Week 23 Lo |
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