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Friday February 4, 2005 - 02:13:09 GMT
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Intraday Range Forecast, Resistance and Support Levels

Intraday Range Forecast, Resistance and Support Levels
USD/JPY
Intraday Range Forecast: 104.40 / 104.70
R: 104.75/105.19/105.74
S: 104.28/103.80/103.30

EUR/USD
Intraday Range Forecast: 1.2945 / 1.2975
R: 1.2978/1.3009/1.3050
S: 1.2922/1.2898/1.2851

USD/CHF
Intraday Range Forecast: 1.2020 / 1.2050
R: 1.2053/1.2073/1.2124
S: 1.1975/1.1936/1.1912

GBP/USD
Intraday Range Forecast: 1.8800 / 1.8830
R: 1.8858/1.8915/1.8930
S: 1.8765/1.8702/1.8680

AUD/USD
Intraday Range Forecast: 0.7675 / 0.7700
R: 0.7715/0.7742/0.7767
S: 0.7672/0.7628/0.7570

EUR/JPY
Intraday Range Forecast: 135.45 / 135.70
R: 135.80/136.19/136.50
S: 135.27/134.92/134.79

EUR/GBP
Intraday Range Forecast: 0.6885 / 0.6900
R: 0.6916/0.6948/0.6964
S: 0.6873/0.6843/0.6827

EUR/CHF
Intraday Range Forecast: 1.5580 / 1.5610
R: 1.5610/1.5637/1.5673
S: 1.5537/1.5512/1.5467


Intraday Range Forecasts: Provides 20-50 pips range forecast for close monitoring of the intra-day movements.

Resistance/Support: Key resistance and support levels to pay attention to.


Yesterday's Recommended Trades

INTRA-DAY AUD/USD OUTLOOK - +0.7705+
Update Time : 2005/03/02 14:01GMT

As aussie has penetrated indicated sup at 0.7742,
suggesting the decline fm y'day's high at 0.7790
wud extend weakness twds this week's low at 0.7696,
however, a break there is needed for a stronger re-
tracement of upmove fm 0.7505 to 0.7670/75.

Venture selling with stop as indicated, abv wud
shift risk to upside for re-test of 0.7790...

Rate: +0.7705+
Strategy: +Target met+
Position: +Short at 0.7738+
Objective: 0.7705
Stop-Loss:
Resistance: 0.7742/0.7790/0.7803
Support: 0.7696/0.7650/0.76288


INTRA-DAY USD/CHF OUTLOOK - +1.2050+
Update Time : 2005/03/02 13:59GMT

As dlr has risen after brief pullback, suggest-
ing recent upmove has resumed n further gain to in-
dicated obj. is envisaged, however, nr term o/bot
condition shud cap upside at 1.2073 n yield correc-
tion later.

Buy at market with stop as indicated, only below
1.1970 wud signal temp. top is made...

Rate: +1.2050+
Strategy: +Target met+
Position: +Long at 1.2018+
Objective: 1.2050
Stop-Loss:
Resistance: 1.2073/1.2124/1.2150
Support: 1.1970/1.1912/1.1893


INTRA-DAY EUR/USD OUTLOOK - +1.2945+
Update Time : 2005/03/02 13:58GMT

As euro has met renewed selling below 1.3009
(prev. sup), suggesting furtehr weakness to 1.2944
sup is envisaged, however, below is needed to sig-
nal recent decline has resumed n bring subsequent
weakness to 1.2922 1st.

Trade fm short side, stop as indicated, abv wud
risk gain twd 1.3020/25...


Rate: +1.2945+
Strategy: +Target met+
Position: +Short at 1.2974+
Objective: 1.2945
Stop-Loss:
Resistance: 1.3009/1.3050/1.3094
Support: 1.2922/1.2894/1.2851


INTRA-DAY USD/JPY OUTLOOK - +104.70+
Update Time : 2005/03/02 13:57GMT

Dlr's present firmness after early breach of
104.35 confirms recent erratic upmove fm 101.67 to
retrace recent decline is likely to extend gain to
104.78, however, o/bot condition is likely to limit
upside to 105.00/05 n bring retreat.

Trade fm long side, stop as indicated, only be-
low 104.20/25 wud signal intra-day top is made...


Rate: +104.70+
Strategy: +Target met+
Position: Long at 104.38
Objective: 104.70
Stop-Loss:
Resistance: 104.78/105.19/105.74
Support: 103.84/103.30/102.98


INTRA-DAY EUR/YEN CROSS OUTLOOK - +135.65+
Update Time : 2005/03/02 12:47GMT

Euro's retreat fm 135.77 suggests intra-day rise
fm 134.92 is being retraced n although further weak
ness to 135.25/30 cannot be ruled out, if our daily
bullish expectation of a resumption of upmove is
correct, renewed buying shud emerge abv said sup.
Venture long on dips n take profit on rebound as
abv 135.77/80 is needed to extend gain to 136.00/10


Rate: +135.65+
Strategy: +Target met+
Position: +Long at 135.30+
Objective: 135.65
Stop-Loss:
Resistance: 135.80/136.19/136.50
Support: 134.92/134.79/134.50


GBP/JPY DAILY CROSS OUTLOOK - +196.20+
Update Time : 2005/03/02 03:08GMT


Although stg has retreated after o/n rise to 196
.00, as long as 195.30 holds, bullishness remains
for recent upmove to extend gain twd 196.32 later.

Hold long, +stop at 195.60+, break wud signal
temp. top has possibly been made n risk 194.79 sup.

Rate: +196.20+
Strategy: +Target met+
Position: Long at 195.30
Objective: 196.20
Stop-Loss:
Resistance: 196.00/196.32/197.34
Support: 194.79/194.29/193.60


DAILY EUR/CHF CROSS OUTLOOK - +1.5575+
Update Time : 2005/03/02 02:02GMT

Y'day's breach of 1.5557 suggests erratic rise
fm 1.5037 (2004 low) has resumed n further gain to
1.5575/80 is seen, however, 'loss of momentum' shud
cap price at 1.5610 today n yield retreat.

Trade fm long side, stop below 1.5509, break
wud risk retrace. to 1.5467 but sup at 1.5439 shud
remain intact n bring another rise later...

Rate: +1.5575+
Strategy: +Target met+
Position: Long at 1.5525
Objective: 1.5575
Stop-Loss:
Resistance: 1.5557/1.5622/1.5686
Support: 1.5509/1.5467/1.5439



Disclaimer:
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

 

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Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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Amazing Trader EVENT RISK Calendar:

Wed 18 Oct
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales

Forex Trading Outlook


Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.

  • POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.

  • POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.



  • POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.

  • POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.



  • POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.


  • POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.


  • POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.



John M. Bland, MBA
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

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