Thursday, April 16, 2009

Mizuho Bank. Trading advice on major currency pairs

Mizuho Bank. Shopping advice
Euro / dollar
Commentary The pair stopped just below the tops of clouds Ishimoku; remember that next week it will be very thin. A strong break above 1.3400 could lead to a change of sentiment on bychi.
Strategy
Buy at 1.3185; feet below 1.3100. Enhances long positions with a clear break above 1.3400 to 1.3600.
Dollar / yen
Commentary
Commentary: A small "hammer", formed yesterday at the first level of support in the correction, indicating the formation of the intermediate peaks. If not today, then hopefully by Friday closing above 9-day moving average at 99.79 could strengthen bychyu dynamics. Note also that the signal is displaced from Chikou Span confirmed candles between 99.00.
Strategy
Open positions for buying at 98.85, 98.00 feet below. The first goal at 99.70, followed by 100.70.
Pound / Dollar
Commentary
Comment: Poor pound / dollar was unable to close above the psychological level of 1.5000, but perhaps it is not surprising, given the lack of assistance from other currencies. With a small share of luck this week's closing above the mark will cause many to reconsider the policy in respect of the UK.
Strategy
Buy at 1.4995, strengthens position at 1.4825, below 1.4550 foot. Short-term goal to 1.5050, then higher.

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