Morning Comments
Monday July 20 1998

Sunday July 19 1998
10:22 AM 

On the Frenzied Forex Front

Sept. J-Yen

Nearby Support is 7170 and 7156 to 7143. Beneath that support is 7088 and 7074 to 7063. A close under 7074 augurs for a slip towards 7030 and the 7003 to 6990 region.

Resistance is at 7242 and 7256. A close over 7256 augurs for a pop to resistance at 7328 to 7342.

Resistance is at 6707 then 6722/6723. A close over 6707 augurs for a test of 6741 beyond that resistance is at 6755 and 6773 and 6782

Support is at 6673, day traders can buy at 6674, below that support is at 6659 with more support is at 6624, day traders can buy at 6624 for a bounce, risk 20 pts.

Support is at 1.6368 and 1.6320 to 1.6280. Beneath it all support is at 1.6150 to 1.6090. Traders can Buy at 1.6150 for a bounce, and hold for higher prices. Below that support should appear at 1.6090 and 1.5936.

Resistance is at 1.6420 and 1.6442 A close over 1.6420 augurs for a test of 1.6550. Traders can sell at 1.6510, risk a close over 1.6550 for three days in a row.

Nearby Resistance is at 5640 and 5653. A close over 5653 augurs for a test of 5672 and 5688 and 5709 to 5722. Traders should go short at 5688 for a quick turn lower. Risk a close over 5729 for two days in a row.

Support is at 5625 to 5622 and 5609 then 5572/ 5569 to 5553 which should contain a break today. Day traders can buy at 5622, risk 20 pts.

Trade accordingly.

Support should appear near the 6709 and 6693. Below that a test of 6673 is likely.

Resistance is at 6727 and 6741. A close over 6727 is friendly and indicates a test of 6759.

Support is at 294.20 and 291.90 then 288.10, day traders can buy at 288.30, risk
$ 4.00.  

Resistance is at 297.20 and 298.30. A close over 297.20 augurs for a test of the 301.00 to 301.90 region, where good sellers should appear. Beyond that a trade to 303.60 is likely.

Support is at 7615 and 7520, day traders can buy at 7520 for a bounce, risk 100 pts.

Resistance is at 7715 and 7750, beyond that sellers should appear at 7910, day traders can sell at 7910 for a turn lower, risk 60 pts. Beyond that resistance is at 8030

Trade Accordingly,

Nearby Support is at 398.2 and 392.5 below that day traders can buy at 389.5 for a bounce, risk $ 3.00 as support should appear at 388.5 A slip under 388.5 augurs for a pullback towards 377 and 365, go long at 365, risk a close under 361 for three days in a row.

Resistance is at 399.5 and 408.5 to 409.5 Traders should Go Short at 409 for a quick turn lower. Risk a Close over 412 for two days in a row.

A close under 398 is negative

On the Downside: Nearby Support is at 532 and 521. Day traders can buy at 532 for a turn higher. Traders can buy at 521 and hold. Below that good buyers should appear at 515 to 512 and 498.5 traders should go long at 515 for a good 2 to 3 day bounce. Risk close under 505 for two days in a row.

On the Upside. Resistance is at 542 and 546. A close over 543.5 augurs for a test of resistance at 557 and 571

Buy dips

Support is at 14.21 and 1415, just under that day traders should go long at 1406 for a good bounce. Risk 35 pts. More support is at 1385 to 1381 which should hold today.

Resistance is at 1431 /1435 and 1456 to 1459 A close over 1559 indicates a test of the resistance at 1584 to 1494.

Support is at 4515 to 4485, day traders should buy at 4515 for a bounce, risk 100 pts.

Resistance is at 4587 and 4615. Beyond that resistance is at 4650 and 4715. Day traders can sell at 4650 for a turn lower, risk 100 pts.

A close over 4590 is friendly.

Resistance is at 3959 and 4015 to 4025

Support is at 3867 to 3849. Below that support is 3815. More support is at 3795 and 3743, Traders can buy at 3748 for a good two to three day bounce, risk a close under 3610 for two days in a row.

Support is at 641 1/4. Aggressive day traders should buy at 641 1/4 and hold for a good bounce. Below that support is at 636 1/2 and 627 to 623 1/2

Resistance is at 648 1/2 and 655 1/4 a thrust over or close over 655 indicates a test of the 664 3/4 to 669 region

Trade accordingly.

Support is at 603 and 595 1/2, below that support is at 589 1/2 and 581

Resistance is at 609 3/4 and 617 to 623 more resistance is 631

Support is at 169.60 and 168.60. Day traders should buy at 168.60 for a bounce and risk 3.00. Below that support is at 164.10 and 161

Resistance is at 176.4 to 176.50 beyond that resistance is at 178.30 and 180.50

Trade Accordingly.

Resistance is at 2487 and 2511 to 2519. Beyond that resistance is at 2542.

Trade accordingly.

Support is at 241 3/4 and 240 1/2 below that 237 offers good support, day traders can buy at 237 for a bounce, risk 4 cents.

Resistance should be firm at 247, beyond that a trade to 251 1/2 is likely.

Resistance is at 275 and 279 to 281

On the Downside Support is at 269 and 267 1/2. Below that support should appear at 263. Day traders can buy at 269 1/4 for a turn higher, risk 4 cents.

Support is at 7371 and 7335 to 7320. Below that support is at 7275 to 7253.

Resistance is 7420 to 7435. A close over 7435 is friendly and augurs for a test of 7540 to 7565. We see an eventual test of Resistance at 7720

Trade Accordingly

Support is at 887 then 842 and 873 Below that 847 offers support.

Resistance is at 906 and 912 A close over 912 augurs for a test of 927 to 941 Traders should sell at 932 for a turn lower, risk a close over 942 for three days in a row.

On the DownSide, support is 106.80 and 105.75. Below that support is 105.55 and the 103.80 to 103.50/ 103.05 region.

On the Upside, Resistance is at 107.80 to 108.05 and 108.55 to 108.80. Beyond that a test of 109.60 is likely, above that resistance is 110.10 to 110.55 A close over 110.55 augurs for a test of 112.35 then 113.00 to 113.60, a close over 113.60 augurs for a test of 116.40 to 116.90

A close over 106.80 today is friendly

Traders should now go back to a stop close under 1561 for two days in a row on a all position.

Support is at 1603 and 1576 to 1569 Below that traders can buy at 1537, risk a trade under 1490.

Resistance is at 1609 to 1615 and 1642 to 1655 where traders can go short for a turn lower at 1655, risk a close over 1692 for two days in a row.

Support is at 6287 then 6212 and 6162, day traders can buy at 6212 for a bounce, risk a trade under 6152.

Resistance is at 6307 and 6362 then 6377. A close over 6312 is friendly for an eventual test of 6437 to 6452.

Support is at 5162 and 5112 below that 5082 should hold.

Resistance is at 5212. A close over 5212 is friendly for a test of the 5282 5312 region.

Resistance is at 4592 then 4617 and 4682

Support is at 4567 and 4490 where it should hold today. Below that support is at 4467.

Support is at 5297 and 5147, hearty day traders can buy at 5147 for a bounce. Below that support is at 5092.

Resistance is at 5397 and 5442 beyond that resistance is at 5577

Stay tuned for Updates in the Pig complex --

-From the Frying Pan into the Fire-

On The Downside, Nearby Support is 121-25. Below that support is at 121-13 and 121-08 day traders can buy at 121-08 and hold for higher prices. Below that support is at 120-25.

On the Upside: Resistance is at 122-08, aggressive day traders can sell there for a turn lower, put your own risk on it.. Beyond that resistance is at 122-25 and 123-03 to 123-08.

On the DownSide, Support is at 1192/ 1191.70 and 1187.20, below that support is at 1181.50 and 1177.40. Below that support can be found at 1169.

On the Upside, Resistance is at 1196.70 and 1197.50 Beyond that good sellers should show up at 1198.70 and 1203.

if this occurs, traders who have 'Ice Water Running through their Veins.' Should Go Short.

Support is 9331 and 9324 then 9316, Below that 9280.1 should hold. A close below 9280.9 augurs for a test of support is at 9236 and 9156 to 9140..

Resistance should first appear at 9347. Beyond that resistance is at 9360 and 9388 then 9429 to 9445 and 9478.

A close today under 9316 is negative