Friday February 22nd, 2008

2/22/2008 EUR/USD Long 1.4716-24 P/T 1.4780 1.4850 Comments: The EUR/USD is now trading above the main monthly pivot so that level should act as support if this pair comes back down to 1.4716 which is also a .618 fib level from the highs of 11/23/07. There is also a daily S1 pivot at 1.4724. 2/22/2008 USD/CHF Short 1.0970-75 P/T 1.0910 1.0850 Comments: The USD/CHF slid to 1.0865 before heading a little higher, but it's still trading below the main monthly pivot at 1.0970. The weekly main pivot is also there at 1.0975 plus the 200 EMA on the 60M chart at 1.0971. 2/22/2008 GBP/USD Short 1.9700-23 P/T 1.9600 1.9550 Comments: The GBP/USD retraced from the previous lows and is now approaching the main monthly pivot again at 1.9723. There is also a daily R1 at 1.9705 and 9700 is the double zero level. 2/22/2008 USD/JPY Short 107.60-80 P/T 107.00 106.50 Comments: The USD/JPY came flying down hitting a low of 107.14 before consolidating where it's trading currently around 107.44. The next resistance level is the 107.60-80 area which is where the main monthly pivot is (107.82), the weekly main pivot (107.58) and the daily main pivot (107.65). There is also a 50 EMA on the 240M chart and a 200 EMA on the 60M chart at 107.69.

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