Wednesday, July 28, 2010 13:41 CET
Intraday Market Outlook for Day Traders
EUR/USD
The pair is still defending its higher levels this European morning and is getting ready for another attack on the 1.3040 resistance line, trading right now at 1.2988. We see that resistance being broken today and reckon with prices near 1.3080.
GBP/USD
Cable is currently trading at 1.5570 in an unbroken uptrend in the early European market and, in our view, on its way to levels around 1.5650 today.
USD/CHF
The dollar only slipped slightly against the Swiss franc in the European morning and is currently priced at 1.0580. We expect a sideways market in low volatility today, between 1.0645 and 1.0575.
USD/JPY
A weaker dollar against the yen in Asian trading today turned upwards in the early European market, trading right now at 87.70. We expect prices above 88.55 for today's further development.
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