Reported at 0730hrs
GY
It did a big down yesterday, pushing the price below the support at 208. WMA5 has punched through the last EMA - EMA100. Will the momentum stop? WMA5 has not clear 208. But the next level of support is at 203.2 (Fib Retracement from 23 Jul Peak to 16 Jul Low). Give it half way for a stop at around 205.
If WMA5 rebound off 208 support, place the resistance at 209/ 209.2, then 210.3 (EMA100)
GU
Has it has more momentum to go down? Support is at 1.883. Before breakout to 1.8 (which will then be too much for GBP!)
The level of resistance depends on where GU rebound. A value if it rebound today is at 1.915, then 1.933
Wednesday, August 13, 2008
Thursday, August 07, 2008
7 Aug 2008
Reported at 0800hrs SGT
GJ/ GU
GJ rebounded off EMA100 on Tuesday and rebound off EMA55 yesterday. It went on north to test the resistance at 214.
Now WMA5 lies between EMA21 and EMA200 -212.9 and 211.9. Of course, the further constraint is at 214 and EMA100 at 210.6.
Looking at how GBP perform - especially on GBPUSD, which nearly hit a year low. It has only one last support - 1.940 and the question is whether it can rebound?
The USD has been strengthening for the last 3 weeks and it should do a breather.
In my opinion, GU may test 1.94 and that will push GJ up to test 214. EU has reached EMA200 and will definitely take a breather. Therefore GJ may not have the momentum to run towards 215.
GJ
GU
Wednesday, August 06, 2008
6 Aug 2008
Reported at 1230hrs SGT
GJ
It came down to EMA200 and tested EMA55. WMA5 still maintained abov EMA200 at 212.
Again support is at EMA100 at 210.6, should WMA5 move down below EMA200.
Resistance is at 212.8 (EMA21), then 214.
The fundamental is not about th strengthening of the Yen, which is mix against th majors currencies - but the weakness found in GBP. But in my opinion, GBP is just taking a breather.
GU
Support is at 1.950 region, reference from lows of 5 Jun and 13 Jun.
Resistance is at1.980, EMA100
The major currencies against USD has hit EMA200, som like GBP/USD and AUD/USD has punch through EMA200. Somewhere it need a breather below it can go further down.
GJ
It came down to EMA200 and tested EMA55. WMA5 still maintained abov EMA200 at 212.
Again support is at EMA100 at 210.6, should WMA5 move down below EMA200.
Resistance is at 212.8 (EMA21), then 214.
The fundamental is not about th strengthening of the Yen, which is mix against th majors currencies - but the weakness found in GBP. But in my opinion, GBP is just taking a breather.
GU
Support is at 1.950 region, reference from lows of 5 Jun and 13 Jun.
Resistance is at1.980, EMA100
The major currencies against USD has hit EMA200, som like GBP/USD and AUD/USD has punch through EMA200. Somewhere it need a breather below it can go further down.
Tuesday, August 05, 2008
Reported at 0730hrs SGT
GY
WMA5 went through EMA21 and now sandwiched between EMA21 and EMA200. EMA200 will give the support as it can be seen for the last few days. EMA55 too give good support given its nearest to EMA200. As such support is at 211.9 and 211.6.
Should WMA5 punch through, expected the next support at EMA100 at 210.4.
On the contrary, GY can do a short rebound to EMA21 at 213 and unless it breakout of EMA21, the next target is 214.
GU
It hit the support at 1.964. Should it continue its steam in the down trend, support is at 1.950, before going to a year low at 1.932.
Rebouncing from 1.964, GU will face resistance at 1.9800, then 1,985.
GY
WMA5 went through EMA21 and now sandwiched between EMA21 and EMA200. EMA200 will give the support as it can be seen for the last few days. EMA55 too give good support given its nearest to EMA200. As such support is at 211.9 and 211.6.
Should WMA5 punch through, expected the next support at EMA100 at 210.4.
On the contrary, GY can do a short rebound to EMA21 at 213 and unless it breakout of EMA21, the next target is 214.
GU
It hit the support at 1.964. Should it continue its steam in the down trend, support is at 1.950, before going to a year low at 1.932.
Rebouncing from 1.964, GU will face resistance at 1.9800, then 1,985.
Monday, August 04, 2008
3 Aug 2008
Reported at 0730hrs SGT
GY
Will GY hold its ground at EMA200? So far WMA5 is still above EMA200. That formed the first support at 211.9. The good news is that EMA55 is not too far away and that gives another support at 211.6. This range will be critical for GY today, before it fall back to 210.4 (EMA100).
The range 211 has been the support before the breakout to 215 and therefore dform a good testing ground.
On the other hand, GY can always rebound to 213 (EMA21) and 214.
GU
USD has strength,en given so many days of weakening. It should find its support at 1.969 and 1.964. CCI has showed sign of a double bottom formation and that may sown a strong recovery today.
Resistance is at 1.98 than 1.985, before any consolidation before breaking north
GY
Will GY hold its ground at EMA200? So far WMA5 is still above EMA200. That formed the first support at 211.9. The good news is that EMA55 is not too far away and that gives another support at 211.6. This range will be critical for GY today, before it fall back to 210.4 (EMA100).
The range 211 has been the support before the breakout to 215 and therefore dform a good testing ground.
On the other hand, GY can always rebound to 213 (EMA21) and 214.
GU
USD has strength,en given so many days of weakening. It should find its support at 1.969 and 1.964. CCI has showed sign of a double bottom formation and that may sown a strong recovery today.
Resistance is at 1.98 than 1.985, before any consolidation before breaking north
Friday, August 01, 2008
1 Aug 2008
Reported at 1200hrs SGT
GY
The downtrend will continue and at present it look like GY will hit support at EMA21 at 213.2. Using a Fib retracement from 23 Jul Peak to 16 Jul low, the adjustment range for the first support is at 212.9. Expect to hit this range today.
Should it continue down, the next level of support is at EMA200 at 211.9, else resistance is at 214 then 215.
GU
It should be supported at EMA100 at 1.9800, but should it go down further, expect it to reach 1.9700. CCI show sign of reversal and together with DOW performaning badly, it should rebound.
Resistance is at 1.9900, then 1.9950 (using Fib retracement from 15 Jul peak, 7 Jul low).
GY
The downtrend will continue and at present it look like GY will hit support at EMA21 at 213.2. Using a Fib retracement from 23 Jul Peak to 16 Jul low, the adjustment range for the first support is at 212.9. Expect to hit this range today.
Should it continue down, the next level of support is at EMA200 at 211.9, else resistance is at 214 then 215.
GU
It should be supported at EMA100 at 1.9800, but should it go down further, expect it to reach 1.9700. CCI show sign of reversal and together with DOW performaning badly, it should rebound.
Resistance is at 1.9900, then 1.9950 (using Fib retracement from 15 Jul peak, 7 Jul low).
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