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Non-farm payrolls in line with expectations as Dollar rallies |
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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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Trading 101 
