Bank Recomendations
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The 9−day moving average at $1.6221 might limit the downside this morning
Thu, Jun 4 2009, 13:08 GMT
by Benny Menashe
Finotec Group Inc.
MIZUHO
EURO/DOLLAR: "Reversing Tuesday's gains, doing wonders for the overbought situation. Two-way price action should help to push implied volatility higher. Expect consolidation under yesterday's high at $1.4339 today and maybe Friday too."
EURO/YEN: "Blipping to new a high for this year at 138.02 yen, above April's at 137.42, and forming a poor version of a 'bearish engulfing' candle yesterday. This suggests Yen crosses will hold below yesterday's highs today and tomorrow, maybe even throughout the month of June. In other words, still very difficult trying to establish where the daily ranges will be."
DOLLAR/YEN: "Obviously prices cannot hold inside the current range forever, and we continue to feel that the Ichimoku 'cloud' should eventually force it lower. Expect even more of the same today as the Yen looks for direction."
STERLING/DOLLAR: "Stopping exactly at the bottom edge of the weekly Ichimoku 'cloud' and should hold below here today and tomorrow, maybe next week too. However, the 9-day moving average at $1.6221 might limit the downside this morning."
Published on
Thu, Jun 4 2009, 13:10 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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