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Daily Market Report

[EUR/USD] - [USD/JPY]- [GBP/USD] - [USD/CHF] - [Nymex Oil]

3.12.2008

EUR/USD - 15:00 (GMT+2)

   

 Reversal from 1.3081 reached 1.2563 low yesterday, shy of lower triangle boundary at 1.2480, before bouncing. Lower top at 1.2767 now caps, with negative short-term studies seeing scope for fresh push through 1.2563 towards 1.2501/1.2490.

Res: 1.2743, 1.2770, 1.2804, 1.2822

Sup: 1.2582, 1.2562, 1.2512, 1.2475

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GBP/USD –15:00 (GMT+2)

 

 Thrust from Tuesday’s 1.4775 low signals short-lived gains and sharp decline from today’s 1.4826 lower top, through 1.4702, 21 Nov higher low, has so far reached1.4663. Bounce on oversold conditions seeks for lower top, ahead of fresh weakness. Below 1.4663 to focus a cluster of long-term supports between 1.4560 and 1.4510.

Res: 1.4935, 1.4982, 1.5013, 1.5049

Sup: 1.4646, 1.4560, 1.4545, 1.4532

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Nymex Oil (Dec) –15:00 (GMT+2)

    

    Fell from the 55.98 lower high to Tuesday's 46.82 low before ranging. Break below there now sees 46.20, then 44.60/42.80, while only regain of 50.24 offers relief for 53.75.

Res: 49.50, 50.24, 50.72, 51.42

Sup: 46.20, 45.42, 44.60, 42.80

Forex, forex trading, fx trading

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USD/CHF  –15:00 (GMT+2)

  Remains in uptrend off 1.1831, 25 Nov low. A key higher low is now in place at 1.1996. Platform at 1.2051 buoys for 1.2150/1.2201 first.

Res: 1.2150, 1.2201, 1.2225, 1.2255

Sup: 1.2050, 1.1986, 1.1955, 1.1930

Forex, forex trading, fx trading

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USD/JPY  – 15:00 (GMT+2) 

 

  Maintains negative short-tem structure, with bears looking for clearance of 92.62 to open 92.20, then 91.35. Corrections higher now seen limited by 93.67/93.82 and only break above there to allow stronger recovery towards 94.60.

Res:  93.67, 93.82, 94.01, 94.60

Sup:  92.63, 92.20, 91.88, 91.35

Forex, forex trading, fx trading

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The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good fa ith, but are subject to change w ithout notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

The communication is not prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

      



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