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Friday, January 9, 2009

Expect USDJPY going below 90's

In the coming week, based on the daily chart analysis, if the current price of 90 with USDJPY break below 89.71, I expect a further short towards 89 or 88 price range. This is based on my daily technical analysis with an immediate support coming at 89.71 and a break below this will push the pair further. Most probably towards the low of Dec 17, 2008.

GBPUSD: Shows some upward push with a target towards 1.5512 or towards the high of Dec 17, 2008. A reversal from the current trend may see the pair to go towards the support of 1.4859 before finding direction of new trend.

EURUSD: The pair now has break the support of 1.3469 and I will wait for next week for trend confirmation for another strong trend continuation. A further break below this support will see a further bearish trend of Euro towards at least 1.3310.

USDCHF: A possible top may now be created at this point of 1.1130's area, however a break above 1.1250's calls for further bullish trend.

AUDUSD: The pair may now change it's momentum from bullish towards bearish cycle. The pair will be going bearish toward the support of 0.6950 and a break from here may see the pair to go further sliding downwards to 0.6750's level

All of the above market summary is of my personal analysis from the current week for next week market momentum. All analysis are based on Daily chart by observing current support and resistance as well as daily bar characteristics.

1 comment:

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