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NFP will decide if Dollar stays below 2.005 |
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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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Trading 101 
