Posts Tagged “Long”
Weekly Review and Outlook: Risk Sentiments Improved But How Long Could it Last? BoC, RBA in …
By admin | May 29, 2010
Risk sentiments staged a strong recovery over the week after China denied rumors of reviewing European debt holdings and the State Administration of Foreign Exchange reaffirmed eurozone as "one of the most important investment markets". DOW extended the rebound from intraday low of 9774 and managed to close above 10,000 View full post on Action Insight [...]
The single currency has traded narrowly and further consolidation would be seen but as long as indicated minor support at 0.8490 (just below the current trendline support) holds, prospect of another rebound remains. Above 0.8645/50 (previous minor support) would signal the fall from 0.8774 has ended and then choppy consolidation within 0.8428-0.8810 would continue but [...]
Although the greenback resumed recent upmove after finding renewed buying interest at 1.1419 (we entered long here at 1.1435) as expected and gain towards 1.1600 cannot be ruled out, loss of near term upward momentum should prevent sharp move beyond 1.1650/60 and risk has increased for a correction later today or tomorrow. View full post [...]
Despite intra-day brief drop to 1.1419, as the greenback has rebounded, suggesting consolidation with upside bias remains but break of resistance at 1.1533 is needed to confirm upmove has once again resumed and extend gain to 1.1558 (1.236 times projection of 1.0732 to 1.1245 measuring from 1.0924), however, 1.1600 should hold on first testing. View [...]
Despite intra-day fall from 1.1446 to 1.1298, as dollar has rebounded after finding support there, retaining our bullishness for gain to 1.1400, however, break of said resistance at 1.1446 is needed to confirm upmove has resumed to 1.1490/00 but near term loss of upward momentum should limit upside to 1.1558 (1.236 times projection of 1.0732 [...]
Despite intra-day anticipated rise to 1.1168 (met our profit-taking target at 1.1165 with 80 points profit), lack of follow through buying and current retreat suggest consolidation would be seen and test of the Tenkan-Sen (now at 1.1123) cannot be ruled out, however, break of the Kijun-Sen (now at 1.1114) is needed to signal intra-day top [...]