9 Apr 2008

Reported at 1200hrs SGT
GJ
Looking at the daily chart, CCI showed a down trend. It would continue to go down, gaining support at 200.3 (Fib retracement from 4 Apr peak to 16 Mar low), then 198.8, then 197.3.

Can it go that low today? Well for this pair a movement by 300 pips is nothing!

Of course, it can rebound off EMA21 (dailychart) at 201.4 and head back to EMA55 (dailychart) at 203.8.

The hour chart showed resistance at 202 (EMA200), then 202.55 (EMA100)

GU
Looking at the daily chart, CCI is on the down trend, but momentum is slowing as GU may soon hit a oversold position and rebound.

How low can it still go? After last night low at 1.9670, price has been hovering there. Support is at 1.9600, then 1.9450, based on Fib retracement peak 27 Mar and low 20 Mar.

Looking at the 1 hour chart, we see resistance at EMA21 (1.9700), EMA55 (1.9780), EMA100 (1.9825) and EMA200 (1.9860).