Currency Matrix

Currency Matrix

Sun, Jun 1 2008, 16:12 GMT
by William Basa

Global Market Research, Inc. (GMR)


OVERVIEW: The focus is on the June outlooks. The two main trend situations are in Aussie and MXP. Aussie remains trend up in all time frames – the monthly uptrend is .9404/.9339 – and projects to.9762. With the developing Q3 setup turning potentially open-ended above .9565, any push thru .9762 will reaccelerate the long-term rally. MXP is trend down and has the strongest look for the month, with redundant downtrends at 10.37/37/10.3961 (weekly), 10.5063/10.5262 (monthly) and 10.6768 (Q3). Minimum targets are Q3/Q2 levels at 10.2795 and 10.2176, before sharp drop-off. The most unpredictable setups are the breakout looks in Cable (outside 1.9660/55 or 1.9870/85) and Euro (1.9430/00 to 1.9620/25). Outside either end will trigger extension, though bullish-leaning weekly trends create an upward bias to start June. $/JPY and $/Swiss are in orderly upside corrections, as May’s neutral turn in monthly trend signals a rotation higher to developing Q3 downtrend/sell zones at 106.35/82 and 1.0715/85

Published on  Sun, Jun 1 2008, 16:14 GMT

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Global Market Research, Inc. (GMR)  | Montpelier, Vermont
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