Wednesday, November 22, 2006

Dollar Sell Off

Finally we saw the level of 1.2900 in EUR/USD pair. Dollar is weak by nearly 150 pips and now its trading firm above the 1.2900 levels against Euro. Now we need to see the level of 1.2978. If that cracksthen we'll step to 1.3000 levels. USD/JPY trading below 117 level and still getting weaker. Yen wasstrong by nearly 200 pips against Dollar. USD/JPY just hit the levelof 116.36 the levels of the September. GBP/USD trading at the multi-week highs, currently trading at 1.9140.In the last 5 days or so the Sterling killed dollar be nearly 300pips. USD/CHF currently trading at 1.2277 levels, And heading towards the1.2180 levels and seems to be likely. USD/CAD now the 1.1400is under threat and yet again unluck to see theunsustainable level of 1.1400 for Dollar. Just time back it tested thelow of 1.1385. Lets see will it hold the 1.1400 levels.NZD/USD back to the level of 0.6700 levels now we need to see the sustaining power to stay above 0.6700 levels. Short term support is at0.6680.AUD/USD finally i'm seeing the good rally in this pair and moreoverit trading well above the 0.7700 level and now its heading towards0.7800 level.EUR/JPY we're seeing the nice piece of consolidation between 151.70and 150.50. Still Euro is stronger against Yen as long as it holdsthe 150.50 levels.EUR/GBP sligthly heading towards the level of 0.6800. On Daily Chartsit formed Double Top at 0.6792-0.6794...

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