Search
Daily Technical Analysis
0
0
EUR: Attempt small longs at 1.4660; stop below 1.4600
Tue, Aug 19 2008, 06:52 GMT
by Nicole Elliott
EUR
Comment: Re-testing Monday’s low at 1.4645 and the Euro is still terribly oversold. Expect a very messy and unstable attempt at basing this week.
Strategy: Attempt small longs at 1.4660; stop below 1.4600. Short term target 1.4800 and then 1.5000.
EUR/JPY
Comment: Retracing half of the previous rally, holding clearly under the ‘broadening top’. We now expect a drop to 158.00 within the fortnight and further out a slide to 152.00. Below here and the long term picture gets seriously interesting.
Strategy: Sell at 161.55, adding to 162.50; stop above 164.00. Short term target 161.00/160.60, then 158.00.
GBP
Comment: A pathetic attempt at basing and few signs of basing despite being well overdue after four consecutive weekly declines and about thirteen daily ones. Over the next week or two we expect a very messy attempt at basing followed by a bounce to 1.9000.
Strategy: Attempt longs at 1.8545; stop below 1.8500. Short term target 1.8700, then 1.8800.
JPY
Comment: The US dollar is slightly less overbought as futures positions are being re-built. We are still looking for signs of topping at the 110.00/110.50 pivotal chart area.
Strategy: Possibly attempt small shorts at 110.15/110.40; stop above 110.75. Short term target 109.35 then 108.55.
Download Full EUR Technical Analysis
Published on Tue, Aug 19 2008, 06:59 GMT
Archive
- EUR: Possibly attempt small longs at 1.2675; stop below 1.2500
Published On Mon, Dec 1 2008, 07:35 GMT - EUR: Strategy remains unchanged: attempt longs at 1.2925, adding to 1.2800; stop below 1.2650
Published On Fri, Nov 28 2008, 07:18 GMT - EUR: Attempt longs at 1.2925, adding to 1.2800; stop below 1.2650
Published On Thu, Nov 27 2008, 07:28 GMT - EUR: Attempt longs at 1.2975, adding to 1.2800; stop below 1.2650
Published On Wed, Nov 26 2008, 07:40 GMT - EUR: Attempt longs on a drop to 1.2700, adding to 1.2600; stop below 1.2400
Published On Tue, Nov 25 2008, 07:50 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
Legal disclaimer and risk disclosure
The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Interested in forex trading? forex brokerage firms!
  Contact the broker/FDM Open a demo account | Contact the broker/FDM Open a demo account  |  Contact the broker/FDM |  Contact the broker/FDM Open a demo account |  Contact the broker/FDM Open a demo account |
FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)
[Read Premium full description]
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.