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Daily Technical Analysis
2
5
EUR: Attempt longs at 1.4005; stop below 1.3800
Mon, Jun 29 2009, 06:32 GMT
by Nicole Elliott
EUR
Comment: Still consolidating under the increasingly important 1.4200 level but giving up very little room. Bullish momentum should increase slightly if we can hold above 1.3900 this week. Only a weekly close above 1.4200 will really get things going and another big round of short-covering.
Strategy: Attempt longs at 1.4005; stop below 1.3800. Short term target 1.4100, then 1.4200.
EUR/JPY
Comment: Stuck between a rock and a hard place as we hold above trendline support, and at the lower edge of a massive Ichimoku ‘cloud’. Expect a test of its lower edge this week.
Strategy: Attempt shorts at 133.40, adding to 134.95; stop above 135.50. Short term target 133.00, then 132.00.
GBP
Comment: Consolidating in a ‘triangle/pennant’ formation at the lower edge of a large Ichimoku ‘cloud’. If not this week then some time in July we favour a break higher. A weekly close above 1.6600 is needed to take bullish momentum back up to the very strong levels of early June.
Strategy: Attempt small longs at 1.6450, adding to 1.6200; stop below 1.6080. First target 1.6500, then 1.6600.
JPY
Comment: The potential ‘head-and-shoulders’ within which prices have been working since March is still there as prices consolidate below the lower edge of the relatively large Ichimoku ‘cloud’ and above the ‘neckline’ and 26-week moving average. Maybe this week, certainly some time in July, we favour a test of the pivotal 94.00 area (and an eventual break below here).
Strategy: Sell at 95.45, adding to 96.00; stop well above 96.65. First target 95.00/94.88 then 94.00.
Download Full EUR Technical Analysis
Published on Mon, Jun 29 2009, 06:38 GMT
Archive
- GBP: Attempt small longs at 1.6560; stop below 1.6400
Published On Tue, Nov 24 2009, 07:10 GMT - EUR: Attempt longs at 1.4930; stop below 1.4800
Published On Mon, Nov 23 2009, 07:13 GMT - 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
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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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.Related reports
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