Tue, 13th of May, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
Yesterday the Greenback suffered huge losses. EURUSD topped at 1.5569, 34 pips higher than my 1.5525 target. My model remains long. Immediate support seen at 1.5480 area. Initial resistance at 1.5595 area. CCI in neutral zone on daily chart.

EURUSD Daily Supports and Resistances:

• S1= 1.5413
• S2= 1.5287
• S3= 1.5209
• R1= 1.5617
• R2= 1.5695
• R3= 1.5821

GBPUSD Outlook
Yesterday the Sterling recovered from it’s losses against Dollar. My model goes long as the pair has violated my hourly trend line. Immediate support seen at 1.9490 followed by 1.9450. Initial resistance at 1.9620 area. CCI about to cross – 100 up on daily chart.

GBPUSD Daily Supports and Resistances:

• S1= 1.9463
• S2= 1.9357
• S3= 1.9272
• R1= 1.9654
• R2= 1.9739
• R3= 1.9845

USDJPY Outlook
Yesterday, the USDJPY reached my target at 103.60, even further, topped at 104.04. My model remains long. Immediate support seen at 103.40 area. Initial resistance at 104.50 area. CCI in just cross -100 line up on daily chart.

USDJPY Daily Supports and Resistances:

• S1= 102.93
• S2= 102.02
• S3= 101.47
• R1= 104.39
• R2= 104.94
• R3= 105.85

USDCHF Outlook
Yesterday USDCHF open at 1.0423, topped at 1.0511 but closed not too far away from the open at 1.0444. It seems like 1.0425 area (61.8 % Fibonacci retracement from 1.0916 to 0.9636 ) is still a key level. My model is mixed, no trading zone. CCI at neutral area on daily chart.

USDCHF Daily Supports and Resistances:

• S1= 1.0396
• S2= 1.0348
• S3= 1.0291
• R1= 1.0501
• R2= 1.0558
• R3= 1.0606

Have a nice day!