16 July 2008

Reported at 0700hrs SGT

GY

It punched through support for yesterday at 209.9 (EMA55) and went further to 209 (EMA100) before rebounding back to 210.The Yen look strong against the major currencies and the trend down may slow down given yesterday big drop.

Resistance is at 211.2 (EMA21), then 211.6(EMA200). Support is at 209(EMA100), then 207.8(Fib Retracement Peak26 Jun, Low 3 Jun). It may test 209 again, before ranging within 210 and 209.

GU

Fantastic move - within 2 hours climb 140 pips. USD somewhat strengthen during US opening hours (partly due to poor performance from DOW).

Support is at 2.0015 (EMA21 Hour ), then 1.9860 (EMA55 Hour).
A bit difficult to say how high can it go now, but I will give it at 2.0400 (Peak of 14 Mar). But first it must regain yesterday high at 2.0200.