Intraday Market Outlook for Day Traders
Tuesday, August 17, 2010
, Posted by Usman Ali Minhas at 3:44 AM
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EUR/USD
The pair is in a mild uptrend this European morning, currently trading at 1.2890. With some down corrections not below 1.2875 we see this trend continuing today, reaching levels above 1.2935.
GBP/USD Trading sideways in the European morning, cable is at 1.5670 now. While we see the downside risk being limited today, we expect the market to develop an up momentum, to levels above 1.5710.
USD/CHF
The dollar is presently trading at 1.0413 in a very slight bid tone against the Swiss franc. We see some selling coming into the market today around 1.0420 and then a sideways market between that level and 1.0385.
USD/JPY
In very thin Asian market hours, the dollar traded sideways in narrow ranges and continues to do so in the European morning, right now at 85.32. There is some upward potential today likely in our view, to levels around 85.55.
