• Home ::
• Technical ::
• Market View ::
• Bank Recomendations

• Send
• Print
• Add To
• Rss

Bank Recomendations

39cdba90-3cf8-4801-be1e-2ae5a196e63d

8

0

Bearish. Negative below 88.69 pence, focus remains 86.38 Feb. 10 low

Tue, Jun 2 2009, 10:16 GMT
by Benny Menashe

Finotec Group Inc.

UBS

STERLING/DOLLAR: "Bullish. Successful assault on the $1.6085 and $1.6198 calls for further gains likely towards $1.6464. Immediate support at $1.5918 ahead of $1.5855."

EURO/DOLLAR: "Bullish. Rise through $1.4058 high reinstates bullish theme, exposes $1.4221. Near term positive above $1.3791/28 with intra-day support at $1.3926."

DOLLAR/YEN: "Neutral. Failure to sustain 96.70+ yen gains keeps the underlying tone neutral with key support at 93.86. Initial resistance at 97.24."

DOLLAR/SWISS FRANC: "Bearish. Downside pressure broke 1.0811 franc and 1.0707, pressures 1.0611 - trigger for 1.5041. Near term heavy below 1.0954."

EURO/SWISS FRANC: "Neutral. Setback from 1.5234 franc high neutralizes bullish theme, with focus shifting to near term key support at 1.5008."

EURO/STERLING: "Bearish. Negative below 88.69 pence, focus remains 86.38 Feb. 10 low."

EURO/YEN: "Bullish. Near term positive above 131.49 yen, focus is on renewed gains beyond 135.70 to yield an assault on 137.41 key resistance."

MIZUHO

EURO/DOLLAR: "Pushing up against important resistance at $1.4200 after one of the biggest monthly moves on record. A break above here should set off a wave of short-covering taking the euro up to $1.4600 and probably $1.4800 within a matter of days. The Euro is overbought but bullish momentum is at a record high."

DOLLAR/YEN: "Dropping sharply from the middle of a very large Ichimoku 'cloud' and should now hold below the 26-day moving average at 96.83 yen. This should set up for a re-test of fairly pivotal support between 94.00 and 94.50 amid what is expected to be generalised, and possibly extreme, US dollar weakness."

STERLING/DOLLAR: "One of the biggest ever monthly rallies as Cable retraces 38 percent of last year's decline. It also adds weight to our view that U.S. dollar strength late last year was due to recapitalisation of core businesses around the globe as cheap money disappeared. Chart levels between $1.6000 and $1.7000 are myriad but not very clear so expect messy work and another potentially stellar monthly rally in an atmosphere of chronic U.S. dollar weakness."

EURO/YEN: "Redrawing the large 'triangle' following Friday's 'doji'. The cross should hold below 135.50 yen today and possibly all week but note that this in not the predominant trend. In fact Yen crosses are expected to move broadly sideways for most of this year, picking intermediate turns a thankless and difficult task."

Published on  Tue, Jun 2 2009, 10:18 GMT