FX Technical Strategy
This report has been deactivated

5

0
Pounds to ounces
Wed, Nov 19 2008, 06:41 GMT
by Lloyds TSB Financial Markets Economic Research Team
Lloyds TSB Financial Markets
Market overview
As volatility remains exceptionally high, the current strategy continues to be cautious and flexible. From a trend perspective, it is suspicious that the euro dollar has failed to extend below 1.2332 given the external opportunities for this to occur (weaker equities, persistently soft commodities). However, the bias for the moment favours this scenario for a test of 1.2135. This could be an important week for this trend. Failure to break lower will encourage some reduction in dollar longs and revert the risk once again for a counter trend retracement. This will happen in a major way at some point, but for the moment, the broader strategy favours the dollar and yen.
The key mover last week was sterling. The break of 1.5270 was a very important signal and hence remains a pivotal level for a sterling recovery. Whilst sterling has rebounded from an oversold position in recent days, a return to 1.45 and 0.8600 is expected against the dollar and euro.
Published on
Wed, Nov 19 2008, 06:45 GMT
Archive
- Green shoots' roots in commodities
Published On Wed, May 13 2009, 07:17 GMT
- Top and tail outlook for majors
Published On Wed, Apr 29 2009, 06:13 GMT
- Base case for sterling
Published On Thu, Apr 23 2009, 06:07 GMT
- Risk appetite is reduced
Published On Wed, Apr 8 2009, 06:39 GMT
- Dollar weakness is a long term story
Published On Wed, Mar 25 2009, 12:30 GMT
[ View All ]
Related reports
Weekly Market Commentary - Libor and Official Interest rates are at their narrowest by Mizuho Corporate Bank
Fri, Jul 3 2009, 14:33 GMT
European Market Update - Spain June Services PMI: 41.2 v 39.1 prior by TradeTheNews.com
Fri, Jul 3 2009, 12:32 GMT
Daily Market Report - Risk aversion was the main theme of yesterday's trading session by Wachovia
Fri, Jul 3 2009, 12:25 GMT
FX Thoughts for the Day by Kshitij Consultancy Service
Fri, Jul 3 2009, 12:23 GMT
Asia Market Update - Most Asian equities indices track the US session declines as nonfarm payrolls data disappoints by TradeTheNews.com
Fri, Jul 3 2009, 11:55 GMT
eurusd, gbpusd
View All
Related content
European Markets mixed, EUR rises and GBP lower
FXstreet.com | Fri, Jul 3 2009, 14:38 GMT
Forex: EUR/USD rebounds at 1.3980, back above 1.4000
FXstreet.com | Fri, Jul 3 2009, 11:46 GMT
CURRENCIES: Dollar Edges Higher In Thin Trade Ahead Of Holiday
Dow Jones | Fri, Jul 3 2009, 11:46 GMT
Forex: GBP/USD falls further to test 1.6300
FXstreet.com | Fri, Jul 3 2009, 11:20 GMT
2nd UPDATE: UK Service Sector Grows, End Of Recession Nears
Dow Jones | Fri, Jul 3 2009, 10:15 GMT
eurusd, gbpusd
View All
The Advisor Weblog » Gbp/Usd daily charts
Fri, Jul 3 2009, 13:43 GMT
Trading for a living » Triple top in cable at the european window
Fri, Jul 3 2009, 10:49 GMT
FX Market Readings » Wide range swing moves for week end
Fri, Jul 3 2009, 07:03 GMT
The Disciplined Trader » EUR and GBP at important junctures
Fri, Jul 3 2009, 07:00 GMT
The Disciplined Trader » Alternate counts on EUR and GBP
Fri, Jul 3 2009, 01:51 GMT
eurusd, gbpusd
View All
Gbpusd - Forex Forum - FXstreet.com
Tue, Apr 28 2009, 14:55 GMT
Technical analysis for EUR/USD, GBP/USD - Page 5 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Yellowlion's Daily EURUSD - Page 6 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Elliott charts with Grega H. - Page 2 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:05 GMT
Technical analysis for EUR/USD by AceTrader - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:03 GMT
eurusd, gbpusd
View All
Outlook for the major currencies this week
Ian Copsey | Tue, Sep 30 2008, 08:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
Outlook for the major currencies this week
Ian Copsey | Tue, Oct 7 2008, 08:00 GMT
eurusd, gbpusd
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
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.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.