FOREX ANALYSIS
MONDAY January 26, 2009

EUR/USD
Market should hold major support at 1.2778 before rising towards 1.3092 or even 1.3197 limit.

GBP/USD
Market should hold major support at 1.3452 before rising towards 1.3969 or even 1.4133 limit.

USD/JPY
It should trade higher to 89.63 or above 90.42 in extention. Supports at 88.42 and 88.81. Stop loss below 88.02 zone.

USD/CHF
Preferred view is for a fall to below 1.1474 while 1.156 - 1.1594 area resists. A clear break of 1.1681 would be bullish.

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