Forex Analysis Today
May 19, 2008Monday May 19, 2008
EUR-USD
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.562 or 1.5709 if support around 1.5544 hold. After which a pullback to 1.5544 - 1.5515 zone is possible.
GBP-USD
Uptrend is still intact in a triangle configuration. It should continue to rally to 1.9603 or 1.9689 if support around 1.9531 hold. After which a pullback to 1.9531 - 1.9498 zone is possible.
USD-JPY
It is likely to fall towards 102.66 unless a corrective rally breaks the 104.59 resistance. Stop above 104.94 zone.
USD-CHF
Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.0432 or 1.0405. Major support is clustered around 1.039 limit.
