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Old 02-07-2003, 02:06 AM
nico3725
 
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Default weekly FX Market comment

EUR/USD.. .1.0785. No change in view. Resistance near 1.0915/35 has so far managed to contain EUR`s strength. It has now entered into correction, which is likely to continue for a while. Supports are at 1.0665, 1.0625 & 1.0560. Cannot rule out testing of any of these supports once more.

USD/CHF.. 1.3610.No change in view. Dollar`s corrective phase is expected to last for some time. Resistances are at 1.3705, 1.3775/80 & 1.3835/50.

USD/JPY..120.40. Dollar is yet to pierce 121.50/80 levels convincingly. Break of this level will increase chances of thrust higher towards 122.25/45 or 122.75/80.

GBP/USD..1.6145. Cable failed near 1.6570 itself instead of 1.6645/50. The current decline can find some support near 1.6075/45 levels. Resistances are at 1.6245 & 1.6320/50.Watch these points for future direction.

Regards.

Source ; www.realtimeforex.com
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