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Daily Technical Analysis
18
2
EUR: Attempt small longs at 1.4915; stop below 1.4800
Fri, Nov 20 2009, 07:30 GMT
by Nicole Elliott
EUR
Comment: Little to add as we consolidate neatly under this year’s high at 1.5064 and above the 26-day moving average. Rising trendline and the Ichimoku ‘cloud’ will provide support and suggest a long position for a break to new highs later on. In the meantime allow for more sideways work.
Strategy: Attempt small longs at 1.4925; stop below 1.4800. Short term target 1.5000/1.5055, eventually more.
EUR/JPY
Comment: All Yen crosses look a little top-heavy but not dramatically so. Hopefully this should gather pace helping nudge one another down towards the lower half of this year’s broad trading band.
Strategy: Attempt shorts at 132.55, adding to 133.70; stop above 134.05. Short term target 132.00/131.75, then more.
GBP
Comment: Tricky as we consolidate under this year’s high at 1.7044, dropping below the 9-day moving average, while holding above the 26-day one. Until we get a w weekly close above 1.7000 expect more of the same where dips, and who knows how low these may be, are seen as buying opportunities for a long term move higher.
Strategy: Attempt small longs at 1.6650; stop below 1.6550. First target 1.6800, then 1.7000/1.7050.
JPY
Comment: Getting there – very slowly. We continue to favour a serious downside test of key support at 87.00 (and then 85.00) this week and through to December.
Strategy: Sell at 88.75, adding to 89.50; stop well above 89.75. Short term target 88.25/88.00, eventually 87.25/87.00.
Download Full EUR Technical Analysis
Published on Fri, Nov 20 2009, 07:30 GMT
Archive
- EUR: Attempt small longs at 1.4915; stop below 1.4800
Published On Fri, Nov 20 2009, 07:30 GMT - EUR: Attempt small longs at 1.4915; stop below 1.4800
Published On Thu, Nov 19 2009, 07:40 GMT - EUR: Attempt small longs at 1.4900; stop below 1.4800
Published On Wed, Nov 18 2009, 07:26 GMT - EUR: Attempt small longs at 1.4960; stop below 1.4800
Published On Tue, Nov 17 2009, 07:28 GMT - EUR/JPY: Possibly attempt tiny shorts at 134.15; stop above 135.75
Published On Mon, Nov 16 2009, 07:32 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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