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TECHNICAL COMMENTARY

By:   Easy Forex
  • 10-11-2008
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·         Euro – 1.2818

Initial support at 1.2526 (Nov 4 low) followed by 1.2329 (Oct 28 low). Initial resistance is now located at 1.2956 (Nov 6 High) at followed by 1.3116 (76.4% retrace 1.3298 to 1.2526)

·         Yen – 98.94

Initial support is located at 96.36 (Oct 31 low) followed by 96.08 (Oct 29 low). Initial resistance is now at 99.92 (Nov 5 high) followed by 100.57 (Oct 22 high).

·         Pound – 1.5795

Initial support at 1.5402 (Oct 28 low) followed by 1.5269 (Oct 24 low). Initial resistance is now at 1.6167 (Nov 5) followed by 1.6264 (61.8% retrace 1.6672 to 1.5604).

·         Australian Dollar – 0.6870

Initial support at 0.6546 (Nov 7 low) followed by the 0.6339 (Oct 29 low). Initial resistance is now at 0.7065 (Oct 20 high) followed by 0.7239 (Oct 14 high).

·         Gold – 748

Initial support at 718 (61.8% retrace 777.90-682.41) followed by 707 (Oct 27 low). Initial resistance is now at 777.5 (Oct 30 high) followed by 803.65 (Oct 21 Level).

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