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Intraday Technical Analysis – January 4, 2008

Intraday Technical Analysis – January 4, 2008
Friday, January 4th, 2008 @ 7:45 am by Bogdan Parascanu

Thursday’s Jan 4th midday analysis -13.00 GMT

Euro traded just above the 1.4700 level for most of today’s session waiting for the NFP release, the par fas traded calmly getting closer and closer to the support level but not managing to break below as the upcoming are important and could change the mid term perspective.

eur-jan-04-08-noon.gif

GbpUsd failed to perform as expected, although it briefly got below 1.9700 the 9.30 GMT UK news helped pushed the pair for a new retest of the 1.9800 resistance and now we are trading roughly at the 50. Fib line of today’s 125 pont move; also the upcoming NFP release will have an impact on the pair and will determine the direction for the remainder of the session.

gbp-jan-04-08-noon.gif

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