Currency Matrix
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Currency Matrix
Sun, Apr 13 2008, 10:55 GMT
Global Market Research, Inc. (GMR)
Currency MatrixSM
14 April 2008
OVERVIEW: The three main trend trades, in order of priority, are MXN, Sterling and Aussie$. MXN is in a full-scale breakdown headed for 10.3936 for the month and 10.2176 for Q2. Bearish weekly trend is the driving force – and sell zone – above at 10.6116/10.6351 this week. Sterling is trend down on its weekly and day charts, with a negative weekly setup under combined weekly trend/Q2 area at 1.9880/1.9910. The trigger to accelerate lower is getting under the Q2 breakdown level at 1.9630. Finally, weekly trend in Aussie leans bullish this week above .9197/86, but is already inside its intramonth upside gap from .9212 to .9439/66. Elsewhere, Euro has the biggest potential for movement this week, with breakout risk below weekly uptrend at 1.5755/20 or above April(weekly) zone at 1.5855/(1.5915). Both $/JPY and $/Swiss are widespread and neutral from 98.51 to 102.71JPY and .9895/.9790 to 1.0175CH.
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Sun, Apr 13 2008, 11:07 GMT
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Global Market Research, Inc. (GMR)
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