Forex daily analysis- 2008-07-11

EUR-USD
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.5813 or 1.5870 if support around 1.576 hold. After which a pullback to 1.5760 - 1.5740 zone is possible.
USD-CHF
Current fall seems to be over near 1.0266 or 1.0242 for a rebound towards 1.0290 - 1.0308 area.
USD-JPY
Corrective dips should ideally halt near 107.07 or 106.89 for one more thrust upwards towards 107.25 - 107.43 area or 107.8 in extention. Fall below 106.70 puts it back on a downward path.
GBP-USD
Current upmove should be ended around 1.9840 - 1.9901. Any correction consolidation should find support in 1.9777 - 1.9747 zone.
EUR-CHF
Currently uptrend should end around 1.6234 - 1.6249 area. A correction down to below 1.6192 is expected. A rise above 1.6271 will abort the expected correction.
EUR-JPY
It should consolidate between 168.23 and 169.46. A break of one of these points would cause further bullish or bearish move.
EUR-GBP
Uptrend is still intact in a triangle configuration. It should continue to rally to 0.7986 or 0.8023 if support around 0.7968 hold. After which a pullback to 0.7968 - 0.7958 zone is possible.
AUD-USD
Currently uptrend should end around 0.9653 - 0.9657 area. A correction down to below 0.9562 is expected. A rise above 0.9696 will abort the expected correction.
USD-CAD
It may meet resistance in 1.0085 - 1.0099 zone for a drift down to 1.0042 zone, after which bounce to 1.0111 is anticipated.

by Forex Capital Market
http://www.fxcm.blogspot.com/