FOREX TREND 1 (Trendsetter)

[dogohuyhoang]

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DOLLAR-YEN TECHS: Choppy trading seen today, with slight up bias


RES 3 Y92.42 09 Feb Australian high
RES 2 Y91.79 Hourly res
RES 1 Y91.13 12 Feb NY high
CURRENT LEVEL: Y90.68
SUP 1 Y89.70 11 Feb low
SUP 2 Y89.20 05 Feb low
SUP 3 Y88.59 03 Feb low

COMMENTARY: Yesterday's breach of Y90.76 signals decline from Y92.42 has formed low at Y89.70 with hourly macd having crossed above zero line, further choppy trading seen with mild upside bias for correction to Y91.38 (61.8% of Y92.24-89.70). But only firm break of Y91.79 would suggest fall ended, bring resumption of upmove from last month's low at Y87.10 for re-test of Y92.42.

EURO-YEN TECHS: Correction to Y117.30, Y118.00/10 possible

RES 3 Y119.64
RES 2 Y118.08
RES 1 Y117.30
CURRENT LEVEL: Y116.85
SUP 1 Y116.56
SUP 2 Y115.50
SUP 3 Y114.90

COMMENTARY: Despite yesterday's fall to Y114.90, subsequent rebound suggests decline from Y120.04 has made low there, risk seen for correction to Y117.30, then Y118.00/10 though Y119.00 to limit upside, yield retreat later. Below Y115.50 brings another fall to Y114.90, then Y114.22.

EURO-DOLLAR TECHS: Choppy trading in $1.2706-$1.3075 range to continue

RES 3 $1.3095 09 Feb high
RES 2 $1.2998 11 Feb high
RES 1 $1.2944 12 Feb high
CURRENT LEVEL: $1.2892
SUP 1 $1.2767 Hourly sup
SUP 2 $1.2706 02 Feb low
SUP 3 $1.2627 05 Dec low

COMMENTARY: Gains to $1.2944 (yesterday's high in Asia) seen but previous resistance at $1.2998 to limit upside, yield retreat. Only breach of $1.3075/95 resistance area would signal decline from $1.4720 (Dec '08) has formed low, bring correction to $1.3124 (38.2% of $1.3801-1.2706), then $1.3180.

Vangvietnam