Daily Technical Analysis

12

2
GBP: Attempt small longs at 1.6560; stop below 1.6400
Tue, Nov 24 2009, 07:10 GMT
by Nicole Elliott
Mizuho Corporate Bank
EUR
Comment: Still well bid and not overbought, though bullish momentum is low. It looks as though we are setting up for a re-test this year’s high at 1.5064. Rising trendline and the Ichimoku ‘cloud’ should also provide support and suggest a long position for a break to new highs later on.
Strategy: Strategy remains unchanged: attempt longs at 1.4930; stop below 1.4800. Short term target 1.5000/1.5055, eventually more.
EUR/JPY
Comment: Dropping below a very thin daily Ichimoku ‘cloud’, though still within this month’s range. Bearish pressure has increased a little and the Euro is not oversold. Things might get a little more interesting should USD/JPY drop below 88.00.
Strategy: Attempt shorts at 132.40, adding to 133.50; stop above 134.05. Short term target 132.00/131.75, then more.
GBP
Comment: Stabilising sooner than we had thought, ahead of first Fibonacci retracement support. Allow for more random work around current levels today.
Strategy: Attempt small longs at 1.6560; stop below 1.6400. First target 1.6700, then 1.6800.
JPY
Comment: Glacial pace but sliding inexorably towards October’s low at 88.01 followed by a serious downside test of key support at 87.00 (and then 85.00). The US dollar is not oversold and momentum is steadily bearish.
Strategy: Sell at 88.70/89.15; stop well above 89.75. Short term target 88.25/88.00, eventually 87.25/87.00.
Published on
Tue, Nov 24 2009, 07:16 GMT
Archive
- EUR: Attempt tiny longs at 1.3715
Published On Tue, Feb 9 2010, 07:27 GMT
- EUR: Possibly attempt tiny longs at 1.3640
Published On Mon, Feb 8 2010, 07:43 GMT
- EUR: Attempt tiny longs at 1.3700
Published On Fri, Feb 5 2010, 07:50 GMT
- EUR: Attempt small longs at 1.3865
Published On Thu, Feb 4 2010, 07:16 GMT
- EUR: Attempt small longs at 1.3970
Published On Wed, Feb 3 2010, 07:41 GMT
[ View All ]
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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