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Old 01-10-2012, 12:26
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ikofx ikofx is offline
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USD / JPY Daily Outlook October 1, 2012

The decline from 79.22 has likely completed at 77.43 . Bias is a little on the upside for 78.36 resistance is small. Break there will target a test on 79.22 . We are supporting the bullish case, decreased from 84.17 has completed at 77.13 . Hence, downside should be limited above 77.13 and bring rebound. Break there of 79.22 will target 80.61 resistance (50% retracement of 84.17 to 77.13 at 80.65).

EUR / USD Daily Outlook October 1, 2012

EUR / USD break 1.2816 today, but managed to recover quickly. The decline from 1.3171 is viewed as corrective only. We still expect the support of 1.2816 (38.2% retracement of 1.2255 to 1.3171 at 1.2821) to hold the downside. Above 1.2970 bias back to the upside for 1.3171 . Break there will confirm resumption of recent rise from 1.2042 and target 1.3486 key resistance (50% retracement of 1.4939 to 1.2042 at 1.3491). However, further break of 1.2816 will bring deeper decline to 61.8% retracement of 1.2255 to 1.3171 at 1.2605.

USD / CHF Daily Outlook October 1, 2012

With the support of 0.9327 , the recovery from 0.9238 could continue higher. We expect strong resistance from the 0.9502 resistance (38.2% retracement of 0.9971 to 0.9238 at 0.9518) to limit upside and bring resumption of decline. Below 0.9327 bias back to the downside and will likely send USD / CHF through 0.9238 towards 0.8930 key support.

GBP / USD Daily Outlook October 1, 2012

GBP / USD fell to 1.6037 today and then slightly recovered. Correction from 1.6309 might continue lower. Short-term outlook remains bullish as long as 1.5912 support has not been touched and we expect a higher increase in the future. Break of 1.6300 would imply a larger bullish and will pave the way to 1.6618/6746 resistance zone.
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