Daily Market Comments
Wednesday June 18, 2008
One move lower to 1.5463 or 1.5416 is anticipated while below 1.5532 - 1.5555 area. Stop loss above 1.56 zone.
Current fall is near an end of wave around 1.035 - 1.0414 zone, a rally should then procede to above 1.0438 or 1.0458. Fall below 1.0337 would cancel this scenario.
It is likely to fall towards 107.18 unless a corrective rally breaks the 108.16 resistance. Stop above 108.35 zone.
While below 1.9519 - 1.9579 it might drop to 1.9459 or below 1.935 zone.
Decline should be supported around 1.6123 - 1.6087 zone for rally to above 1.6235. A clear break of 1.6087 will damage this expected rally.
Decline should be supported around 167.05 - 166.69 zone for rally to above 168.19. A clear break of 166.69 will damage this expected rally.
Current upmove should continue up to 0.7963 or 0.8001. Any correction should find support in 0.7918 - 0.7899 zone.
Uptrend is still intact in a triangle configuration. It should continue to rally to 0.9462 or 0.9492 if support around 0.9427 hold. After which a pullback to 0.9427 - 0.9414 zone is possible.
Current fall is near an end of wave around 1.0126 - 1.0145 zone, a rally should then procede to above 1.0218 or 1.0234. Fall below 1.0121 would cancel this scenario