7 Mar 2008

Report at 0700 SGT

GJ
Looking at the daily chart, GJ is now making a B-wave down, before the next C-wave.

Support is attained at ~205 (Fib Retracement) and should the C-wave form, the price should head toward EMA21 (daily) at 208.4 then EMA55(daily) at 2011.5.

The 1 hour chart confirmed the consoldiation - WMA5 sandwiched by EMA200 at 207.0 and EMA100 at 206.0. Should the price breakout, it will gain monemtum towards the support and resistance mentioned in the above paragraph.

GU
Finally, a break from 2.0000!

But looking at the daily chart, WMA5 has not cross EMA200, which means today the price will consolidate. There may be some retracement after yesterday long candle.

It should find some support at 2.0005 and 1.9996 range (EMA200 and physchological 2.0000)

The price has the momentum to continue up, just by comparing the strength of EUR/USD reaching new high! GU has the potential to climb to 2.0325 (Fib Retracement)

Looking at the 1 hour chart, it seems that the bull is still raging up! The 1 hour chart shows and confirm the support at 2.0032 (EMA21) and 1.9955 (EMA55)