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Currency Matrix
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Currency Matrix
Mon, May 26 2008, 10:42 GMT
by William Basa
Global Market Research, Inc. (GMR)
OVERVIEW: The most well constructed picture this week is in Euro, where weekly trend leans bullish above 1.5615/1.5555 and the June setup points higher above 1.5620. That area provides a platform to structure longs against for run to closest resistance at 1.6035 this week and 1.6205 for June. $/CAD and Aussie also have excellent weekly trends going, and both have open-ended June risk at this point - $/CAD under .9905; Aussie above .9511. But each is partially neutralized by Q2 levels at .9700CAD and the more immediate Q2 zone at .9594/.9614 in Aus$. The other trending market is MXP, where weekly trend leans negative under 10.4415/10.4547 and the June setup is open below 10.5510. Again, downside is partially offset for the time being by a fixed Q3 (June) support forming at 10.2795. $/JPY, $/Swiss and Sterling all start the week neutral – but with breakdown potential under June trends at 102.15JPY and 1.0210/05CH and breakout risk above/below 1.9870 to 1.9755/45 in Cable.
Published on Mon, May 26 2008, 10:44 GMT
Archive
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Published On Mon, Jun 16 2008, 11:22 GMT - Currency Matrix
Published On Sun, Jun 1 2008, 16:12 GMT - Currency Matrix
Published On Mon, May 26 2008, 10:42 GMT - US Dollar Matrix
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Global Market Research, Inc. (GMR)
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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.
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