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EURJPY and GBPUSD Week 27 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 Low
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| Euro-Yen 4-Hour Forex Outlook | | 
| Intra-day MACD below waterline with momentum shifted to the downside; if 167.03 holds, upside resistance now at 168.53 before another push towards 169.45; downside support at 166.85 and break below 166.77 should see price lower towards 165.59 | | 4-Hour Resistance Levels | | 169.45 | 100% Fibonacci Retracement; Historic High
| | 168.53 | 61.8% Fibonacci Retracement Level | | 168.24 | 50% Fibonacci Retracement Level | | 167.95 | 38.2% Fibonacci Retracement Level from 167.03 | | 4-Hour Support Levels | | 166.85 | Key Support Level | | 166.77 | 19 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 |
 GBPUSD Daily Chart | Pound-Dollar Weekly Forex Outlook | |
|  Descending Trend Line has broken and now movement likely to move upwards with oscillators higher; first test of resistance at 2.0033 with possible target towards 2.0463; momentum is up but weekly trend is unclear
| | Weekly Resistance Levels | | 2.1160 | 100% Fibonacci Retracement Level; November 2007 High
| | 2.0463 | 61.8% Fibonacci Retracement Level | 2.0397
| March 2008 High; Week 11 High
| 2.0248
| 50% Fibonacci Retracement Level | | 2.0033 | 38.2% Fibonacci Retracement Level from 1.9336 | | Weekly Support Levels | | 1.9408 | Week 24 Low | | 1.9363 | May 2008 Low; Week 20 Low | | 1.9336 | January 2008 Low (Key Support Level)
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| Pound-Dollar Daily Forex Outlook | |
| Daily outlook is bullish with upside potential now at 1.9967 before re-test of 21 April High of 2.0025; with the descending trend line broken, immediate downside support now at 1.9811 level with break below 1.9724 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 | | 1.9811 | 38.2% Fibonacci Retracement Level from 1.9950
| | 1.9768 | 50% Fibonacci Retracement Level | | 1.9724 | 61.8% Fibonacci Retracement Level | | 1.9585 | 23 June 2008 Low
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| Pound-Dollar 4-Hour Forex Outlook | |
| Intra-day outlook is bullish but heavily into overbought zone; upside resistance now at 1.9967
| | 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 | | 1.9811 | 38.2% Fibonacci Retracement Level from 1.9950 | | 1.9780 | Ascending Trend Line Support
| | 1.9768 | 50% Fibonacci Retracement Level (Key Support)
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