Friday, April 24, 2009

Mizuho Bank. Trading advice on major currency pairs 24/4/2009


Mizuho Bank. Shopping advice
Euro / dollar
Commentary
Rebuilding is slow, but all the same bulls managed to move higher. The pair has now turned out to be higher than 9-day moving average, continuing the rebound from the lower limit of the channel, and closing above 1.3185 would indicate the formation of bovine acquisitions on a weekly schedule.
Strategy
Open positions on the purchase of approximately 1.3175 with a stop order below 1.2950. Boost confidence with the long positions break above 1.3200 to make the move towards 1.34 in the short term and continued growth in the direction of 1.36.
Dollar / yen
Commentary
Dollar / yen fell below the level of correction in the Fibonacci 50.0%, and 9, and 26-day moving averages, which prompted us to reconsider their views. Now we consider a maximum of 101.45 in April as the main peak, below which the pair can remain in the next few months, the dollar / yen may continue to decline towards 93.50 on the background of a general weakening of the U.S. currency.
Strategy
Sell at 98.00 to rebound with the foot above 99.00. Increase short position in the break below 96.50 with a view to 95.75 in the short term, and 93.50 in the future.
Pound / Dollar
Commentary
The pair continues to rebound from the tops of clouds Ishimoku with onna completed yesterday, above 26-day moving average, which led to the formation of bovine uptake in the afternoon schedule. The ability to hold above 1.46 today can support the strengthening of bull sentiment, although in order to be able to count on an impressive rally in the pound / dollar, the bulls need to be closing the week above 1.50.
Strategy
Open positions for buying at 1.4665 with stop order below 1.4380. Short-term goal to 1.4850, then 1.5000.

No comments: