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Weekly Currencies Overview 8212005

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					                         Weekly Currencies Overview


    EUR/USD: (Price Now: 1.2149)

Resistances:
1.2424 – 10th Aug. ’05 High
1.2352 – 8th June ’05 High
1.2292 – 18th Aug. ’05 High
1.2243 – 61.8% Fibo (1.2481 – 1.1866), Weekly Pivot Point
1.2192 – 19th Aug. ’05 High
       Closing Price: 1.2149
Supports:
1.2103 – 38.2% Fibo (1.2481 – 1.1866)
1.2034 – 28th July ’05 Low
1.1980 – 24th June ’05 Low
1.1907 – 7th July ’05 Low
1.1866 – 5th July ’05 Low

Trends:       ST: Downward          MD: Upward            LT: Upward

Bearish, But on Short-Term!
        Euro had been firmed lower last week in despite of a mix of good data came
from the Euro Zone earlier last week. Only breaking below 1.2103 could keep the
euro very bearish and able to retest 1.2034, backed by 1.1980 and 1.1907. Bullish
rallies would be reconfirmed only above 1.2243 to recap towards 1.2352, followed by
1.2424.



     GBP/USD: (Price Now: 1.7945)

Resistances:
1.8291 – 28th June ’05 High
1.8231 – 20th May ’05 Low
1.8163 – 15th Aug. ’05 High
1.8072 – 12th Aug. ’05 Low
1.8000 – Weekly Pivot Point
       Closing Price: 1.7945
Supports:
1.7889 – 19th Aug. ’05 Low
1.7827 – 61.8% Fibo (1.8178 – 1.7271)
1.7727 – 8th Aug. ’05 Low, 50% Fibo (1.8178 – 1.7271)
1.7670 – 2nd Aug. ’05 Low
1.7615 – 38.2% Fibo (1.8178 – 1.7271)

Trends:       ST: Downward          MD: Upward            LT: Neutral

Holds Lowed!
       Cable has staged at its lower bids against the greenback. Medium-Term
upward trend still holds fairly, corrections end towards 1.7889 and 1.7827. Breaching
below 1.7727 would suggest the bearish signal to arouse towards 1.7670, backed by
1.7615. Resistances seem capping at 1.8000, followed by 1.8072 and 1.8231.
     USD/JPY: (Price Now 110.45)

Resistances:
113.38 – 61.8% Fibo (120.71 – 101.65)
112.76 – 1st Aug. ’05 High
112.22 – 9th Aug. ’05 High
111.64 – 14th July ’05 Low
110.82 – 19th Aug. ’05 High, and 38.2% Fibo (113.71 – 109.04)
       Closing Price: 110.45
Supports:
110.10 – Weekly Pivot Point & 23.6% Fibo (113.71 – 109.04)
109.66 – 16th Aug. ’05 High
109.04 – 16th Aug. ’05 Low
108.58 – 20th June ’05 Low
108.10 – Round Figure

Trends:          ST: Upward        MD: Upward            LT: Downward

Bullish Consolidation!
       USD/JPY has resumed its short-term upward trend. Breaking above 111.64
would accelerate the pair to surge higher towards 112.22, followed by 113.38. Only
closing below 109.66 could keep the price to bid lower at 109.04, and 108.10.




Prepared by MM                                STCC – Finance & Investment Division   2

				
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posted:2/3/2013
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