Daily Technical Analysis
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EUR: Attempt longs at 1.4000
Fri, Jul 3 2009, 06:29 GMT
by Nicole Elliott
EUR
Comment: Messy and we remind that a weekly close above 1.4200 is the absolute minimum needed to confirm an important upside break. Until then we shall have to allow for yet more random consolidation within the recent range.
Strategy: Attempt longs at 1.4000; stop below 1.3900. Short term target 1.4100, then 1.4200.
EUR/JPY
Comment: Looking more top-heavy after yesterday’s decent ‘bearish engulfing’ candle here and on a number of other Yen crosses. Obviously there is still the moving averages, trendline and ‘cloud’ to tackle, but a weekly close below 132.00 would add considerably to downside pressure, potentially setting off a very sharp move lower over the next two weeks.
Strategy: Attempt shorts at 134.65, adding to 135.35; stop above 137.00. Short term target 133.00, then 132.00.
GBP
Comment: Still stuck between a rock and a hard place, trying to break higher but getting zero help from other currencies. A weekly close clearly above 1.6500 should add to current strong bullish momentum.
Strategy: Attempt small longs at 1.6415; stop below 1.6175. First target 1.6550/1.6600.
JPY
Comment: Closing below the lower edge of the Ichimoku ‘cloud’ and the moving averages, adding a tiny amount of bearish pressure. Hopefully we will see a test of the increasingly important 94.00 area some time in the next two weeks.
Strategy: Attempt small shorts at 96.00, adding to 97.00; stop above 97.25. First target 95.50 then 95.00.
Download Full EUR Technical Analysis
Published on Fri, Jul 3 2009, 06:29 GMT
Archive
- EUR: Attempt longs at 1.4000
Published On Fri, Jul 3 2009, 06:29 GMT - EUR: Attempt longs at 1.4115
Published On Thu, Jul 2 2009, 06:17 GMT - EUR: Attempt longs at 1.4020
Published On Wed, Jul 1 2009, 06:29 GMT - EUR: Attempt longs at 1.4100, adding to 1.4000
Published On Tue, Jun 30 2009, 06:18 GMT - EUR: Attempt longs at 1.4005; stop below 1.3800
Published On Mon, Jun 29 2009, 06:32 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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