Friday September 17, 2010 - 12:52:48 GMT
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Forex Hound - www.forexhound.com
Dollar likely to Rise against Swiss Franc, Japanese Yen
Crude oil prices and increased appetite for risk are helping
to support the Canadian Dollar overnight. It looks as if it could be a â€śrisk
onâ€ť day today which will be beneficial to all the higher yielding currencies.
The EUR USD is trading sharply higher overnight as
speculative buyers continued to drive the market on the notion that the Euro
Zone economy will recover faster than the U.S. economy. The next upside
target is a downtrending Gann angle at 1.3184.
The GBP USD is walking up a Gann angle at 1.5616. This price
should act as support. A break out over the Fib level at 1.5729 could trigger
an acceleration to the upside.
The Dollar/Swiss is meeting Gann angle resistance at 1.0170.
The main trend will turn up on a trade through the last swing top on the daily
chart at 1.0277.
The Dollar/Yen is testing a 50% level at 86.01. Holding
above this price could trigger another move to 86.75. I know it may be a long shot, but the daily
chart has a price cluster at 88.93 â€“ 88.98, making this price a potential
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