DAILY FX FORECASTS FXDREAM EUR/USD Date: Thu, 14 August 2008 07:30:05 Resistance levels: 1.4970/1.5080/1.5100 Support levels: 1.4850/1.4820/1.4770 EUR/USD has fallen back below 1.4880 yesterday Today focus will be on US Core Consumer Price Index numbers at 12:30 GMT The conensus is at 0.2%. On downside, if the number comes out at 0.4% or higher , retest of 1.4820 lows and even 1.4770 may be seen after the event On the other side, if the number comes out at 0.0% or lower, recovery towards
Markets now expect UK rates to fall by the end of the year Rally in short-term Gilts supports European bonds too US Treasuries fall prey to a late profit-taking move after failed test of the July highs US equities close session lower, but off the day lows. Asia mixed this morning Commodities rebound, oil (Brent) back up to 114 USD/barrel Greenspan sees US home prices bottom in the first half of 2009 Conflict between Georgia and Russia not over yet, as US launches an aid mission to Georgia
EURUSD Recent low into the 1.4815 region may be focused later today as the Euro resumed the downtrend, testing bids into the 1.4850 zone. Interim support is formed at 1.4850 and more important support is eyed at 1.4815/20. A potential break may extend the decline towards the 1.44 zone within the upcoming days. On the upside, resistance is now seen at 1.4935/40 followed by 1.4980 and 1.5080 and a potential break above 1.4900/10 could extend the gains towards yesterday's high at 1.4980. Both
*************************************************** Update Time: 14 Aug 2008 01:14GMT INTRA-DAY GBP/USD OUTLOOK - +1.8655+ Cable's retreat after meeting renewed selling at 1.8695 suggests recent decline has possibly re- sumed n below y'day's low at 1.8639 wud encourage for further weakness twds 1.8600/10 b4 prospect of a rebound due to nr term 'loss of momentum'. Hold short with stop now at break-even, abv wud prolong consolidation n risk gain to 1.8710/20. Rate:
The dollar was all over the place again on Wednesday, up against the pound and down versus the yen, which suggests further weakness in the yen crosses. Keep an eye on the US CPI report, which is important. Euro/dollar The oversold euro/dollar consolidated in a choppy manner near the bottom of the downtrend and formed another possible bullish reversal. My model remains short since July 22, so buy it only on a confirmation. Initial support remains at 1.4860. A new pivot low is at 1.4816. Below
A somewhat quiet Asian session ahead of what looks to be an action packed session in London, with a slew of top-tier economic releases on the docket. With Euro looking down the barrel of what will be disappointing CPI and GDP data later at 9:00GMT, the EUR/USD pair sold off a bit in choppy trading this past session. After a pretty powerful start of 149.30, the pair chopped its way to a low of 148.65 before gaining 30 pips and subsequently losing about 20 pips from there to begin the
