Daily Technical Analysis
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EUR: Possibly attempt small longs at 1.4455 but only if prepared to add to 1.4300
Mon, Sep 29 2008, 06:54 GMT
by Nicole Elliott
EUR
Comment: A ‘spike high’ and ‘evening star’ candle on the weekly chart at 1.4867 suggests we shall consolidate below here for another week or two. The Euro will probably hold between 1.4200 and 1.4800.
Strategy: Possibly attempt small longs at 1.4455 but only if prepared to add to 1.4300; stop below 1.4195. Short term target 1.4550, then 1.4700.
EUR/JPY
Comment: Retreating once again ahead of the 157.00 area. Expect a drop this week to re-test 151.00.
Strategy: Sell at 153.65, adding to 155.00; stop above 157.05. Short term target 153.00, then 151.00.
GBP
Comment: An ‘evening star’ candle on the weekly chart against the 9-day moving average at 1.8600 suggests Cable will hold below here for another week or two. Prices will probably hold very nervously roughly between 1.7800 and 1.8500.
Strategy: Possibly attempt small longs at 1.8270; stop below 1.8050. Short term target 1.8400, maybe 1.8500.
JPY
Comment: Holding neatly in a relatively small range below pivotal resistance around 110.00. A weekly close below the bottom of the weekly ‘cloud’ at 104.50 might add some much-needed bearish momentum and a sustained break below 103.50 should really set things going South.
Strategy: Sell at 106.35; stop above 107.10. Short term target 105.50/105.15, then 104.00.
Download Full EUR Technical Analysis
Published on Mon, Sep 29 2008, 07:00 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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