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Bank Recomendations
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New high on break above 80.98 pence and in channel off 77.95 pence
Thu, Sep 4 2008, 08:09 GMT
by Benny Menashe
KBC BANKING AND INSURANCE
EURO/STERLING: "New high on break above 80.98 pence and in channel off 77.95 pence, with Double Bottom off 80.22 pence."
DOLLAR/YEN: "Strong rebound off 103.77 yen has met first target Double Bottom off 107.75, with drop from 110.67 having retested the neckline of the pattern."
MIZUHO CORPORATE BANK
EURO/DOLLAR: "Dipping to a new recent low at $1.4556, just below retracement support, working in an unstable downward-sloping 'wedge' formation. One-month at-the-money implied volatility is on its way up again and the euro is very oversold. We continue to watch warily for signs of basing this week, the deeper we drop initially, the sharper the reversal later on."
DOLLAR/YEN: "Hovering on retracement support and yesterday's close at 108.07 yen is probably just enough to complete a small 'head-and-shoulders' top. Over the coming week we expect a drop to 106.50 with yen crosses moving steadily lower too.
EURO/YEN: "Dropping like a stone towards March's low. The euro is very oversold and bearish momentum very strong. Yen crosses should push each other lower and lower, like dominoes. One-month at-the-money implied volatility should move higher, probably sharply so on a break below 154.00. For this morning expect cautious consolidation above 157.00 with rallies to 160.00 seen as selling opportunities for further big declines this month."
Published on Thu, Sep 4 2008, 08:14 GMT
Archive
- Near-term positive above $1.6266, focus remains on renewed gains
Published On Mon, Aug 3 2009, 10:45 GMT - We cannot rule out a return to 93.55/93.85 yen, or at most to the 94.65/90 resistance area
Published On Mon, Jul 13 2009, 12:49 GMT - Looking for direction while trading above an increasingly large, upward-sloping Ichimoku 'cloud'
Published On Tue, Jul 7 2009, 08:40 GMT - The up-thrust top should within a few sessions start to deliver further downside pressure
Published On Thu, Jul 2 2009, 10:46 GMT - Consolidating in a 'triangle/pennant' formation at the lower edge of a large Ichimoku 'cloud'
Published On Mon, Jun 29 2009, 10:40 GMT
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