Thu, 12th of June, 2008
By Setyo Wibowo (analyst@fxinstructor.com)
EURUSD Outlook
Yesterday the Euro recovered against US Dollar, but showing another weakness early today in Asian market. My nearest model for EURUSD remains short targeting 1.5370 which is also a key level. A failure to break down from that level could bring EURUSD opened to 1.5620, while a break downside could trigger movement toward 1.5280.
EURUSD Daily Supports and Resistances:
- S1= 1.5476
- S2= 1.5397
- S3= 1.5342
- R1= 1.5610
- R2= 1.5665
- R3= 1.5744
GBPUSD Outlook
Similar to the Euro, yesterday the Sterling was traded stronger against Greenback, but showing weakness early today. My model for GBPUSD remains short, targeting 1.9520. Immediate resistance is seen at 1.9620. CCI in neutral area on daily chart.
GBPUSD Daily Supports and Resistances:
- S1= 1.9527
- S2= 1.9420
- S3= 1.9350
- R1= 1.9704
- R2= 1.9774
- R3= 1.9881
USDJPY Outlook
Yesterday the Japanese Yen recovered against US Dollar. The USDJPY bottomed at 106.56 and closed at 106.82. My model remains long, still targeting 108.30. Immediate support is seen at 106.70 followed by 106.40. CCI in overbought area on daily chart, so another minor downside pullback might happen today. Wait for confirmation on oscillators/indicators to find long position.
USDJPY Daily Supports and Resistances:
- S1= 106.33
- S2= 105.84
- S3= 105.13
- R1= 107.53
- R2= 108.24
- R3= 108.73
USDCHF Outlook
The Swiss Franc also recovered against US Dollar yesterday. My model for USDCHF is mixed with no trading zone. Immediate support is seen at 1.0300. Initial resistance at 1.0395. CCI in neutral are on daily chart.
USDCHF Daily Supports and Resistances:
- S1= 1.0262
- S2= 1.0215
- S3= 1.0123
- R1= 1.0401
- R2= 1.0493
- R3= 1.0540
Have a great day!
