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Bank Recomendations
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The up−thrust top should within a few sessions start to deliver further downside pressure
Thu, Jul 2 2009, 10:46 GMT
by Benny Menashe
SEB
STERLING/DOLLAR: "Downside risk still high. The up-thrust top should within a few sessions start to deliver further downside pressure, especially so as there also is a visible bearish divergence in momentum indicators. Passing $1.6380 will be the trigger for the exit of the top formation."
NEW ZEALAND DOLLAR/U.S. DOLLAR: "Red flag alert. The failure above the rising wedge created a dark cloud cover candle. The market has thereafter continued sliding in a rather constructive wave count (hourly chart) which together with the extreme long positioning among non-commercials. All in all the setup impose a clear theat to the kiwi dollar."
EURO/SWEDISH CROWN: "The market yesterday continued pushing the pair lower but without the following bounce that we've been looking for. The violation, albeit with 10 pips only, of the 10.6870 crown key support makes us adopt a neutral stance. A short term topside reaction is nevertheless needed."
Published on Thu, Jul 2 2009, 10:47 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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