Daily Technical Analysis
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EUR: Buy at 1.4395, adding to 1.4255; stop below 1.4140
Mon, Sep 15 2008, 07:05 GMT
by Nicole Elliott
EUR
Comment: A massive ‘spike low’ and ‘doji’ on the weekly chart, gapping higher today, as we recover from the sharpest ever sell-off. We ought to see follow-through to this move this week allowing the Euro to recover towards 1.4900.
Strategy: Buy at 1.4395, adding to 1.4255; stop below 1.4140. Short term target 1.4700, then 1.4900.
EUR/JPY
Comment: Yen crosses are taking a breather as we let other currencies catch up. We continue to expect consolidation today, and maybe all week, as we prepare for another massive slide later this month.
Strategy: Sell at 152.30; stop well above 153.60. Short term target 150.85, then 149.75 again.
GBP
Comment: Bouncing strongly from very oversold levels. Expect more follow-through today as we rally towards retracement resistance and the 26-day moving average at 1.8350.
Strategy: Buy at 1.8110, adding to 1.7935; stop below 1.7750. Short term target 1.8300, then 1.8600.
JPY
Comment: Gapping lower in holiday-thin markets as we break below the Ichimoku ‘cloud’. This is very thick and should cap prices this week, bearing down over the coming month, as financial markets unravel quickly. Think, evaluate carefully, move tactically, and remember, cash is king.
Strategy: Sell at 105.85, adding to 106.70; stop well above 107.25. Short term target 105.50/105.25, then 104.00 and the 103.25
Download Full EUR Technical Analysis
Published on Mon, Sep 15 2008, 07:10 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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