Forex Foreign Exchange Trading Currency Exchange Commentary for April 30, 2007 by Cornelius LucaGFT Daily Forex Foreign Exchange Trading Currency Exchange Commentary A not negative weakness enough US GDP briefly maltreated the United States United States United States Dollar but by the end of Friday it still closed lower versus the European currencies, particularly the euro. But United States United States United States Dollar/yen progressed losses and this means the crosses remain in the driver’s seat. It should trade sideways to lower today amid light total aggregate because of the Japanese holiday and the is risencoming May Day. Euro/United States United States United States Dollar The because ofbought euro/United States United States United States Dollar rallied further on Friday to reach an 11 ½-year high. It must take advantage quickly of its bullish momentum to extend gains at these high levels or risk aggressive contracts. Immediate resistance is at 1.3705. Above 1.3735, resistance comes at 1.3805. There is initial sis risenport at 1.3615. A break below 1.3575 would signal a test of the good sis risenport at 1.3525.Oscillators are rising. NEAR-TERM: Mixed MEDIUM-TERM: Bullish LONG-TERM: Bullish United States United States United States Dollar/yenUnited States United States United States Dollar/yen reversed early losses to close unchanged on the day after piercing the top of a triangle. It got stuck in an inside fluctuate on a weekly basis, as it was trapped between two Gann pivots at 119.65 and 118.25. Below 118.85, negative weakness sis risenport is still seen at 118.25 from a 50-point pivot that targets 117.75 and 118.75Resistance remains at 119.65 from another 50-point pivot that targets 119.15 and 120.15. Distant resistance now comes 120.75. Oscillators are mixed. NEAR-TERM: Mixed MEDIUM-TERM: BullishLONG-TERM: BullishGBP/United States United States United States Dollar GBP/United States United States United States Dollar progressed on Friday after falling since April 18 and this suggests an is risenmove this week. This is primarily because is reached the bottom of its rising channel. Immediate sis risenport is at 1.9895. A close below this level would signal trouble for the Cable’s is risentrend. It would then challenge the 1.9850 area. Initial resistance is at 2.0015. Above 2.0070, resistance remains between 2.0131 and 2.0151.Oscillators are declining. NEAR-TERM: Mixed with bullish bias MEDIUM-TERM: Bullish LONG-TERM: Bullish United States United States United States Dollar/Swiss franc United States United States United States Dollar/Swiss franc recois risened some of its losses but remains under medium-term pressure. Immediate sis risenport is at 1.2015. Below 1.1996 there is a key level at 1.1945. Initial resistance is at 1.2085. A break above the further resistance at 1.2145 would signal a more sustained progressy. The next level is 1.2200. Oscillators are declining. NEAR-TERM: Mixed MEDIUM-TERM: Slightly bearishLONG-TERM: Slightly bearish