Tuesday, May 5, 2009

Mizuho bank. Trading advice on major currency pairs


Mizuho Bank Shopping advice
Euro / dollar
Commentary
Euro / dollar rising to the top of clouds, with a week-long closure of higher formations of "flag" helping to shape the dynamics of bull. A similar situation for other key pairs, which indicates a weakening of the dollar across the spectrum of the market this month and maybe longer.
Strategy
Buy at 1.3365, strengthens position at 1.3260, stop below 1.3190. Add long positions with confidence break above 1.3450 for the purpose at 1.3575/1.3600.
Dollar / yen
Commentary
Yen slabeet for Golden week in Japan. It seems that it is stuck in 99.00, as it was already in March and February. Moving averages point to the possibility of reduction, however, prices rose to the top of clouds, creating conflicting signals. Thus, we can not exclude the possibility of consolidation in the range of 96.00-99.00.
Strategy
Open a short position at 98.80, stop above 99.85. short-term goal at 97.65 and possibly 97.15.
Pound / Dollar
Commentary
The most powerful one-week closure from the beginning of January has not been able to put a couple in the area above 1,500. In the other pairs also indicates the strengthening of bovine momentum. Positions in Futures are less than half its peak value in 2007 - it shows that many looked in the wrong direction. You can further increase this week.
Strategy
Buy at 1.5000, stop below 1.4500. Enhances long positions at 1.5075 in order to break at 1.5375.

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