Intraday EUR/USD: The euro continues to weaken and nears September’s $1.3882 low point, a decline through which will have $1.3828, the mid-September 2007 low, in sight. Minor resistance comes in around $1.4000 and at Thursday’s $1.4040 intraday high as well as around $1.4080.

Weekly chart EUR/USD trend: Bearish.

Intraday USD/JPY: The dollar remains bullish and targets Y106.55 minor resistance. Above this, resistance can be seen at Y106.97, the Sept. 29 peak, and at Y107.10, the 50% Fibonacci retracement of August-to-September’s decline. Minor support remains around Y105.50 and at Y105.15.

Weekly chart USD/JPY trend: Bearish.

Intraday GBP/USD: Sterling is falling further and is currently capped by $1.7677 minor resistance, 78.6% Fibonacci retracement of September’s advance. As long as this caps the currency pair, a fall towards $1.7581, the Sept. 11 high, should be on the cards. Support below it is found at $1.7449, that’s September’s low.

Weekly chart GBP/USD trend: Bearish.

Intraday USD/CHF: The dollar remains bullish and so far reached CHF1.1297, a move above which has $1.1321 and perhaps also $1.1373, the Sept. 8 high, in focus. Minor support is seen at $1.1247 and around $1.1180.

Weekly chart USD/CHF trend: Capped?

Forex Technicals - 02-10-08

* The pivot is the sum of the high, low and close divided by 3.

Intraday EUR/GBP: The euro is slipping again and has so far hit GBP0.7875 minor support, a decline through which has GBP0.7845, late September’s low, in sight. Minor resistance is seen at GBP0.7910 and at GBP0.7937.

Weekly chart EUR/GBP trend: Capped.

Intraday EUR/JPY: The euro is very close to Y147.01 minor support, the September low, a fall through which would eye Y145.74, the late July 2006 low. Further support comes in at July ’06′s Y145.02 low point. Minor resistance lurks around Y147.80 and is seen at Tuesday morning’s Y148.84 intraday low.

Weekly chart EUR/JPY trend: Bearish.

Intraday EUR/CHF: The euro nears minor support around CHF1.5702, a slip through which would have September’s CHF1.5665 low point in focus. Minor resistance is found around CHF1.5773, the Sept. 18 low, and at CHF1.5820, Wednesday’s intraday high, as well as around CHF1.5861, the Sept. 26 low.

Weekly chart EUR/CHF trend: Bearish.

Intraday AUD/USD: The Australian dollar hovers above US$0.7868 minor support for the third day running and is likely to finally fall below it. In this scenario, minor support around US$0.7806, September’s low, will be in the limelight. Further support is found around US$0.7676, that’s the August 2007 low. Minor resistance stands at US$0.7903, the Sept. 11 low, and around US$0.7948.

Weekly chart AUD/USD trend: Bearish.

Forex Technicals No.2 - 02-10-08

* The pivot is the sum of the high, low and close divided by 3.

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