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