Free Forex

EUR/USD
Date: Tue, 1 July 2008 12:30:05
Resistance levels: 1.5800/1.5850/1.5890
Support levels: 1.5730/1.5700/1.5630/1.5580
EUR/USD has reversed above 1.5770 earlier today Today focus will be on US ISM Manifacturing Index at 14:00 GMT The consensus is at 48.5 No change in our view. As long as price holds above 1.5730 first Support the uptrend remains intact for test towards towards 1.5840-50 area if the number comes out at 47.5 or lower and 1.5890 over the next trading sessions First important Resistance comes at 1.5840 On the other side, if the number comes out at 50.0 or higher ease back to 1.5730 first Support may be seen after the event later today

Strategy-neutral


GBP/USD
Date: Tue, 1 July 2008 12:30:04
Resistance levels: 1.9960/2.0020/2.0100
Support levels: 1.9900/1.9850/1.9760/1.9730
GBP/USD has risen to 2.0 highs earlier today despite the disappointing UK PMI Index numbers No change in our view. The uptrend remains intact for further upmove higher towards 2.0020 in short term and 2.0100 over the next trading sessions On downside, stronger than expected fundamental data from USA may turn price back to 1,.9900-8900 area Trade from long side for test towards 2.0020 and 2.0100 in mid term

Strategy-neutral.


USD/JPY
Date: Tue, 1 July 2008 12:30:03
Resistance levels: 106.00/106.50/107.20
Support levels: 105.50/105.00/104.20
USD/JPY has tested 105.00 our down target over the last trading sessions as it was suggested in our previous reports On downside, the bias remains bearish and retest of 105.00 may be seen later today and then 104.20 in mid term On the other side, first Resistance stands near 106.00, however, a break above 106.50 is required to confirm reversal in the bias for retest of 107.80 highs

Strategy-neutral