Monday, April 23, 2007

April 23, 2007

GBP/USD
It should test 2.0045 area after which a sell off down to 1.9993 or extended to 1.9952 area is expected.

EUR/USD
Decline should be supported around 1.3574 - 1.3556 zone for rally to above 1.3656. A clear break of 1.3556 will damage this expected rally.

USD/JPY
It should trade lower to 117.94. Resistances are at 118.65 and 118.85. A break of 119.04 is bullish.confirmed by a close above 118.98 limit.

Elliot Wave Based
GBP/USD : support in a zigzag correction 1.9926
EUR/USD : flat correction down 1.3525
USD/JPY : flat correction up 119.2975

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