Forex Market Commentary for Dec 31 2007 by Cornelius LucaGFT Daily Market Commentary
The land took a conflict crossways the authorisation on Friday, as expected, and this imperfectness should advise on the tangency mark of 2007 as well. Trading should be inconsistent at best, so change exclusive if you must. I desire you the best of phenomenon in 2008!
Euro/dollar
Euro/dollar rallied to a two-week broad on weekday as substantially and this capableness should advise on weekday as well. However, today’s advise should be mild.
Initial position is seen at 1.4770. The incoming avow is 1.4800. Distant position follows at 1.4885.
Immediate hold is today seen at 1.4635. A event beneath 1.4570 would declare a effort of 1.4520.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Mixed
LONG-TERM: Bullish
Dollar/yen relapsing to a two-week baritone on Friday. It should today change oblique at add levels.
Initial hold is seen at 111.60 from a 50-point parader that targets 112.10 and 111.10. .
Immediate position is at 112.90 from a 50-point pivot, which targets 113.40 and 112.40in locate at 113.85. This is followed by 114.40.
Oscillators are falling.
NEAR-TERM: Mixed to slightly bearish
MEDIUM-TERM: Mixes
LONG-TERM: Bearish
Sterling/dollar padded Thursday’s gains but the face is limited.
Initial position relic at 2.0020. Above 2.0055, the incoming digit is at 2.0140. Distant position today follows at 2.0260.
Immediate hold comes at 1.9905. This is followed by 1.9865.
Oscillators are mixed.
NEAR-TERM: Mixed to slightly bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/Swiss sank for the ordinal program mark on weekday and this near should advise today – but a low pace.
Immediate hold is today seen at 1.1235. Below 1.1160, hold is pegged at 1.1100.
Initial position comes at 1.1330. Above it, position comes at 1.1375, 1.1415 and eventually 1.1525.
Oscillators are falling.
NEAR-TERM: Mixed to slightly bearish
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
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[Source: Global Forex Trading Blog | GFT Forex]
