Major technical analysis 24-09-2007

euro

The European currency managed to move in an irregular movement last week to record and all time high. Today the euro is expected to continue the upside move as the euro couldn’t breach the major up trend line beside the technical parameters that indicate the upside potential until 1.4200 levels . The trading range for today might be between the key resistance level at 1.4250 and the key support level at 1.4050. The general trend is up as far as 1.3600 remains intact targets now at 1.4500 and 1.4885.
We expect buying Euro above 1.4100 with a target at 1.4175, stop loss below 1.4070

gbp

The British pound managed to move towards the upside in a bullish pattern after it built the base above the major level last week at 2.0200. However, the pound has a tough level at 2.0280 that might bother the pound while in its upside move. The trading range for today might be between the key resistance level at 2.0335 and the key support level at 2.0160.
The general trend is up as far as 1.9650 remains intact targets now at 2.0635 and 2.0740.
We expect buying sterling above 2.0120 with a target at 2.0280, stop loss below 2.0080

jpy

The dollar against the Japanese yen arranged a strong drop with high levels of volume and volatility. Due to that, the pair hit the low at 114.60 last Friday. Today the pair seems to continue towards the major support at 114.20s. The trading range for today will be between the key resistance at 115.70 and the key support at 114.00.The general trend is down as far as 124.60 remains intact, targets at 112.60 and 111.30.
We expect selling USD/JPY below 115.20 with a target at 114.50, stop loss above 115.60