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

• Send
• Print
• Add To

Bank Recomendations

e16be56c-d4cf-42c1-bc1b-3e176b55dfcd

8

0

Neutral/negative outlook within the $1.5800−$1.6590 interweek range extremes

Thu, Jun 18 2009, 12:55 GMT
by Benny Menashe

Finotec Group Inc.

COMMERZBANK

EURO/DOLLAR: "Yesterday's sell-off found support just ahead of the$1.3740 March 2009 highs. The subsequent bounce is regarded ascorrective in nature and looks to have already run its course; toppingovernight at $1.3980. We now look for price to resume its interweekdowntrend, with intraday losses through $1.3920/$1.3850 expected tofuel another test of the $1.3750/40 support. Below $1.3740 targets$1.3610, $1.3440 then $1.3390."

DOLLAR/YEN: "The interday outlook remains negative below 97.10 yen,with losses through 95.75 (interweek range low and fibonacci) targeting95.05 en route to the 94.00 intermonth range lows."

DOLLAR/SWISS FRANC: "Support at 1.0765 francs maintains the bid nearterm tone within the converging 1.0690-1.0945 interweek range extremes.We anticipate an upside resolution of the aforementioned range, withsubsequent gains through the 1.0985/1.1030 resistance zone targeting1.1165 then 1.1305."

STERLING/DOLLAR: "Neutral/negative outlook within the $1.5800-$1.6590interweek range extremes, with price expected to soften towards theintermediate $1.6210, $1.6115 then $1.5995 levels. A weekly close abovethe recent $1.6660 high would reinstate upside momentum and fuel a$1.6810/$1.7050 extension of the uptrend (not favoured)."

SOCIETE GENERALE

EURO/DOLLAR: "The recovery from the $1.3735/95 support area isprobably corrective. Monday's high of $1.4035 should cap the upsideuntil EUR/USD breaks below$ 1.3735/50. This would turn the short-termoutlook more bearish and call for a decline to the tentative supportline, which comes at $1.3375 today."

DOLLAR/YEN: "The stabilisation above the 95.80 yen Fibonacciretracement probably aims to consolidate the down-move initiated at98.60 on Monday. The 97.10 pullback level should cap the upside untilUSD/JPY resumes its decline towards 93.55/85."

DOLLAR/SWISS FRANC: "USD/CHF is probably consolidating last week'sup-move before rising again towards the 1.0980/1.1030 francs zone. The1.0690 support area should limit the downside."

EURO/STERLING: "The recovery from 84.20 pence is corrective. The85.75/86.10 resistance zone should cap the upside until EUR/GBP extendsits medium-term downtrend to the 81.70/82.10 region."

EURO/YEN: "The recovery initiated at 132.25 yen yesterday is probablycorrective. The 135.70 pullback level should cap the upside until EUR/JPY breaks below 132.25 and tests the medium-term rising supportline which comes at 131.20 today."

Published on  Thu, Jun 18 2009, 13:17 GMT