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Bank Recomendations

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Bullish. The break (below) $1.4051 exposes the $1.3793 May 28 low

Tue, Jun 9 2009, 10:55 GMT
by Benny Menashe

Finotec Group Inc.

UBS

DOLLAR/YEN: "Bullish. The abrupt rise breaks 97.24 yen and 98.82 yen, now targets 99.74 yen. Intra-day positive above 96.52 yen."

EURO/DOLLAR: "Bullish. The break (below) $1.4051 exposes the $1.3793 May 28 low - a break here necessary to threaten the bull run. Key resistance at the $1.4338 June 3 high."

STERLING/DOLLAR: "Bullish. The corrective setback from $1.6662 builds pressure on $1.5855 ahead of $1.5757."

AUSTRALIAN DOLLAR: "Bullish. Pressure building on $0.7892/30 range ahead of $0.7742 while broader bull trend prevails above $0.7451 key support. Resistance at $0.8123 ahead of $0.8263."

BNP PARIBAS

STERLING/DOLLAR: "Seen meeting support towards $1.5880 (50 pct retracement), with $1.6080 as a pullback level. Following a pause, further downside movement is expected later on below $1.5880, the next target is at $1.5515). The daily indicators are approaching their zero level. The hourly ones are supportive."

EURO/STERLING: "Seen consolidating the sharp bullish reversal, between 87.30 and 88.00 pence, before a new attempt on the upside, in direction of 88.70 pence (below 87.30 pence, the next key support is at 86.95 pence)."

EURO/DOLLAR: "The euro falling below $1.4070 is approaching the support line of the bullish channel of the past few weeks (and also the 20-day moving average), at $1.3900. A consolidation of the reversal sign is expected for now. Main resistance is at $1.4070. With main support at $1.3900. A bearish break of that latter level would argue for a return towards $1.3750. The daily indicators are within their neutral area, approaching their zero level. The hourly ones are supportive."

DOLLAR/YEN: "Above 97.25 yen is meeting resistance as it approaches resistance line at 99.00 yen. The currency pair is reversing the bearish bias seen in May. However, the bullish point is at 99.70 yen, with the main point at 101.45 yen. A consolidation of Friday's rebound is expected at first; with 97.85 yen as a first corrective point. The pullback level is at 97.25 yen. The daily indicators are supportive. The hourly ones are negative."

Published on  Tue, Jun 9 2009, 10:56 GMT