рынкоапдейт
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Сосьете (простите ) Женераль:
EUR/USD
The stronger-than-expected up-move from 1.2860 is corrective. We expect the 1.3500 resistance level to force the EUR/USD to reverse towards this week's low of 1.2860 and the August 2010 low of 1.2590.
Кредит Суисс
We look for short-term base to offer sell-side entry opportunity at 1.3400
EUR/USD gains over the past 48 have defined a short-term base, thereby questioning January bearish risks. Although this has likely delayed anticipated downside pressures to at least month-end and likely into February, it also provides a sell-side entry opportunity given our still negative outlook for Q1 and 2011.
Upside barriers: The 55-day Moving Average is at 1.3380, the “neckline” to the bottoming effort is at 1.3404, with the 38.2% retracement of the breakdown from November at 1.3405. This entire area, alongside the peaks at 1.3434 and 1.3499 should provide formidable upside barriers through mid-month.
Above the latter, however, would alter the Q1 trading environment and open the door up to the area defined by the 61.8% retracement and swing high at 1.3740/88.
Trading Strategy: We would suggest entering short at 1.3400 for 1.2650 in Q1. Exit and reverse to long above 1.3525 for 1.3715
Сосьете (простите ) Женераль:
EUR/USD
The stronger-than-expected up-move from 1.2860 is corrective. We expect the 1.3500 resistance level to force the EUR/USD to reverse towards this week's low of 1.2860 and the August 2010 low of 1.2590.
Кредит Суисс
We look for short-term base to offer sell-side entry opportunity at 1.3400
EUR/USD gains over the past 48 have defined a short-term base, thereby questioning January bearish risks. Although this has likely delayed anticipated downside pressures to at least month-end and likely into February, it also provides a sell-side entry opportunity given our still negative outlook for Q1 and 2011.
Upside barriers: The 55-day Moving Average is at 1.3380, the “neckline” to the bottoming effort is at 1.3404, with the 38.2% retracement of the breakdown from November at 1.3405. This entire area, alongside the peaks at 1.3434 and 1.3499 should provide formidable upside barriers through mid-month.
Above the latter, however, would alter the Q1 trading environment and open the door up to the area defined by the 61.8% retracement and swing high at 1.3740/88.
Trading Strategy: We would suggest entering short at 1.3400 for 1.2650 in Q1. Exit and reverse to long above 1.3525 for 1.3715