Update Time: 18 Mar 2010 01:12GMT
DAILY EUR/JPY CROSS OUTLOOK – +123.85+
Despite y’day’s anticipated rebound to 125.07 in
Europe, subsequent sharp retreat suggests further
‘choppy’ consolidation below this Monday’s high of
125.36 wud continue with downside bias for weakness
to 123.80/85 but reckon 123.24 wud remain intact.
Hold short with stop now at 124.35 n only abv
124.62 wud risk stronger gain to 124.90/00 b4 down.
Rate: +123.85+
Strategy: +Target met+
Position: Short at 124.60
Objective: 123.85
Stop-Loss:
Resistance: 124.62/125.02/125.36
Support: 123.58/123.24/123.01
**************
Update Time: 18 Mar 2010 00:37GMT
INTRA-DAY EUR/USD OUTLOOK – +1.3720+
Y’day’s selloff fm 1.3819 to 1.3727 (NY)strongly
suggests recent corrective upmove fm 1.3433 has for
med a top there n as price has fallen after a brief
rebound to 1.3779, consolidation with downside bias
remains but reckon 1.3690/00 wud hold initially.
Trade fm short side with stop as indicated n
only abv 1.3779/84 res may risk re-test of 1.3819.
Rate: +1.3720+
Strategy: +Target met+
Position: Short at 1.3760
Objective: 1.3720
Stop-Loss:
Resistance: 1.3779/1.3796/1.3819
Support: 1.3717/1.3701/1.3688
***************
Update Time: 17 Mar 2010 15:38GMT
EUROPEAN CLOSING EUR/JPY OUTLOOK – +124.15+
Despite euro’s intra-day rise to 125.07, subse-
quent retreat suggests further choppy sideways trad
ing wud continue n mild downside bias is seen for
stronger pullback to 124.10, however, nr term o/
sold condition shud keep price abv 123.94 in NY.
Trade fm short side with stop as indicated,
abv wud abort n bring re-test of 125.07 res…
Rate: +124.15+
Strategy: +Target met+
Position: Short at 124.60
Objective: 124.15
Stop-Loss:
Resistance: 124.98/125.07/125.36
Support: 124.10/123.94/123.58
