Monday, October 1, 2007

crosses technical analysis 01-10-2007

GBP/JPY

The Pound gained heavily against the Yen, and reached the targets we talked about earlier, now the first target is set around the 237.00 levels, and the point at 234.71 seems to offer strong demand for the pair.

EUR/JPY

The Euro gained against the Yen as well, and the new target is set to be at the 165.76, even if some of the technical indicators started to show the pair is entering an overbought area yet the general trend remains well to the upside, and the point at 163.56 is the first demand point for the pair.

EUR/GBP

The Euro lost ground against the Pound, as the pair started heading to the downside in a correctional move, yet the 1 hour RSI and Stochastic Slow indicators show the pair resides in an oversold area, and the point at 0.6941 seems to offer the first demand for the pair.

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