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Mon, 04th of August, 2008
By Setyo Wibowo

EURUSD Outlook
Friday the EURUSD attempted to continued it’s bearish momentum on a better than expected US NFP. The pair bottomed at 1.5515 but the bearish momentum seems limited as the pair made an upside correction and closed at 1.5564. Although I believe the US Dollar positive view is going to continue in days ahead, we might see another upside correctional movement today as the pair already oversold. Immediate resistance is seen at 1.5610 followed by 1.5690. Initial support seen at 1.5515 (Friday’s low). CCI in oversold area on daily chart.

EURUSD Daily Supports and Resistances:

• S1= 1.5520
• S2= 1.5476
• S3= 1.5437
• R1= 1.5603
• R2= 1.5642
• R3= 1.5686

GBPUSD Outlook
The Sterling suffered losses against Greenback on a better than expected US NFP. The pair bottomed at 1.9726 and closed at 1.9751. I am expecting this bearish momentum continue today. My model goes short targeting 1.9665. Immediate resistance is seen at 1.9790 followed by 1.9820. CCI just cross -100 line on daily chart, suggesting a potential bearish view.

GBPUSD Daily Supports and Resistances:

• S1= 1.9704
• S2= 1.9658
• S3= 1.9590
• R1= 1.9818
• R2= 1.9886
• R3= 1.9932

USDJPY Outlook
The bearish momentum of USDJPY continued on Friday although the bearish power was less than I had expected. The pair only moved 62 pips, bottomed at 107.27 and closed at 107.67. My model remains mixed with downside bias. Immediate resistance is seen at 107.75. Initial support is seen at 107.27 (Friday’s low) followed by 106.50. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

• S1= 107.33
• S2= 106.99
• S3= 106.71
• R1= 107.95
• R2= 108.23
• R3= 108.57

USDCHF Outlook
Friday, The Swiss Franc was traded lower against Greenback on a better than expected US NFP. The pair topped at 1.0516 and closed at 1.0495, but this bullish momentum also seems limited right now. My model is mixed with neutral bias. Immediate resistance is seen at 1.0516 (Friday’s low). Initial support at 1.0440. CCI in overbought area on daily chart.

USDCHF Daily Supports and Resistances:

• S1= 1.0464
• S2= 1.0433
• S3= 1.0407
• R1= 1.0521
• R2= 1.0547
• R3= 1.0578

Have a great day!