Chris Lee | forex

Forex Markets Update : 09 July 2010 Friday

Jul 8th 2010 at 11:44 PM

Further strength in the Euro (1.2690) led to a high of 1.2712 yesterday. Strong trendline Resistance seen at the current levels. Profit-taking possible. Dollar-Yen (88.50) is looking biddish in the near term, targeting 89.25.

The Euro-Yen Cross (112.35) has risen well yesterday on the back of strength in EUR-USD and USD-JPY. Could see some profit-taking along with the Euro.

Dollar-Swiss (1.0505) has been quiet yesterday after having broken below the 200-day MA the day before. It may have Support near 1.0435 today.

The Pound (1.5155) has been quiet yesterday, just below Resistance at 1.52-53 through yesterday. A spike to test the Resistance at 1.52-53 cannot be ruled out today. The Aussie (0.8760) is holding onto its gains and could target 0.8850.

Good luck trading!!

Your friendly trader,

Chris Lee

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