Thursday, October 27, 2005

Hourly Watch

EUR/USD (1.2148)
Trend: Up
Current position: Neutral
Euro strikes 2-week high of 1.2161 amid mounting ECB rate hike talk. Look to sell if support fails to hold at 1.2130.

GBP/USD (1.7840)
Trend: Down
Current position: Short
Sterling hit one-month high of 1.7898 against the dollar. Stay short from 1.7835 with 25-pips stop loss.

USD/CHF (1.2728)
Trend: Down
Current position: Neutral
Will consider to long when there is an upward momentum breaking through resistance level of 1.2750.

USD/JPY (115.24)
Trend: Down
Current position: Neutral
Dollar retreats from 2-year high vs. yen. Stay neutral for now.

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