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By: Crown Forex - 14-07-2008
0votesThe Euro rose to a record high against the Yen last week after breaching the 168.98 level successfully, but dropped slightly today to gather more upside momentum on intraday basis, the momentum indicators are showing the pair is being traded within an overbought area over the short and medium term and a sideway correctional wave might start soon however the pair is targeting the 170.06, 170.97, and finally the 171.32 level, while the point at 168.61 offers good demand for the pair.
Support 169.19 168.98 168.61 168.36 168.11 Resistance 169.46 169.68 170.06 170.33 170.70 Recommendation ... The Pound declined against the Yen last week as the pair failed to breach the 211.88 resistance level which pushed the pair back to the downside in order to gather more upside momentum, the momentum indicators are providing further downside signals on intraday basis however over the short and medium term the pair's upside trend remains intact, while the 210.48 offers strong demand for the pair.
Support 211.23 210.89 210.48 210.04 209.55 Resistance 211.88 212.41 212.80 213.27 213.91 Recommendation ... The Euro was finally able to break the limited range against the Pound, as after the pair breached the 0.7990 level it rose to the set target at 0.8003 and continued the strong upside wave to settle above the 0.80 levels, the momentum indicators however are pointing that the pair is being traded within an overbought area which might call for a slight correction before the pair continues its upside wave, while the 0.7990 offers good demand for the pair.
Support 0.8003 0.7990 0.7975 0.7958 0.7944 Resistance 0.8017 0.8030 0.8042 0.8056 0.8070 Recommendation ...
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CROWN FOREX SA, located at St-Hubert 38, 2854 Bassecourt, P.o.box 247, Switzerland, is fully regulated as a financial intermediary under Swiss federal law on the prevention of money laundering (LBA, MLA). Our company is also affiliated with the ARIF association, thus overseen by the Swiss federal de
DISCLAIMER:
The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver &energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk
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