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Bank Recomendations

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Bank−Recommendations

Thu, Oct 9 2008, 12:34 GMT
by Benny Menashe

Finotec Group Inc.


STANDARD CHARTERED

EUR/USD: "Spot has bounced on technical signals that EUR/USD is oversold. Some stochastic and RSI technical signals are oversold and the series of higher intra-day lows may hint at more upside for spot (we forecast $1.46 for EUR-USD at year-end)"

USD/JPY: "Spot continues to trade heavy on fragile risk appetite and as Japanese investors are taking money home. Technical indicators remain bearish and we may see a test of the key psychological support level of 100.00 yen over the coming days."

GBP/USD: "Spot is consolidating ahead of yesterday's low at 1.7319. Whilst the chart pattern is tentative, a doublebottom may be developing with corrective upside potential to $1.7835 (last week's intra-day high). The UK economic data remains bleak and threatens any sustained rebound"


UBS

EUR/USD: "Heavy near-term below $1.3773 - pressure mounts on $1.3444 trend low".

USD/JPY: "Bearish below 103.29 yen, targeting 98.56 yen but with scope for 95.76 trend low from March".

GBP/USD: "Loss of $1.7447 exposes $1.7319 ahead of pivotal $1.7049 reaction low from December 2005. Intraday resistance at $1.7658 ahead of $1.7839".


Finotec  | Global financial trading center, 1 Grivas Digheni and Chrysanthou, 3035 Mylona P.O.B 58007, Limassol
http://www.finotec.com/ | support@finotec.com

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FINOTEC Trading’s Market Commentaries are provided for informational purposes only. The information contained within these reports is gathered from reputable news sources and not intended as investment advice. FINOTEC Trading assumes no responsibility or liability from gains or losses incurred by the information herein.

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