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Currency Matrix
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Currency Matrix − Week of 5 May 2008
Mon, May 5 2008, 12:02 GMT
by William Basa
Global Market Research, Inc. (GMR)
OVERVIEW: Mostly neutral situations this week, as the main theme is the collision between bullish weekly trend in the USD and Q2/May resistance. As these longer-term hurdles start to approach, they increasingly create more of a two-way sequence in the market. Those boundaries are cleanest at 103.79 vs Q2/May zone at 105.85/106.06JPY; 1.0295/85 vs the same May/Q2 zone at 1.0735/65CH; 1.5665/80 weekly downtrend vs 1.5345 monthly uptrend in Euro; and 10.4780 downtrend in MXP vs its May supports at 10.3760 and 10.2795. The situations elsewhere are less crisp in terms of the boundaries, but with similar neutral trading situations seen in $/CAD, Aussie and Sterling. Of those three, potential movement is greatest under 1.0014CAD (to .9782 for May).
Published on Mon, May 5 2008, 12:07 GMT
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Global Market Research, Inc. (GMR)
| Montpelier, Vermont
http://www.globalmarketresearch.com | FXTechinfo@globalmarketresearch.com
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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