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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
as far as my data go it seems german banks are second in exposure to PIGS France is first and Santander has little exposure . Santander is more exposed in corporate loans .
;) Love n Peace
adis amigos
A DOW JONES NEWSWIRES COLUMN
NEW YORK (Dow Jones)--The Dollar Index has risen fast this week and its upward trajectory has been nearly vertical. In fact, although it's not evident that the uptrend is exhausted, an interim top is about to form, I believe. See chart at
http://www.dowjoneswebservices.com/chart/view/3934
It's notable that Friday's trading so far is confined in Thursday's 83.924-85.268 range. That's an obvious signal of fading upside momentum, and the virtue of heeding such homely details is the fact that you don't need a whiz-bang mathematically overcomplicated technical oscillator to tell you the obvious: The bull is about to take a break.
That conclusion is reinforced by the fact that an interim top may be lurking in the 85.584-85.659 resistance band. And I remember the first technical lesson that stuck in my brain, lo, these many years ago: Slowing momentum and looming resistance is a recipe for a selloff.
The final point of the chart is the fact that the Dollar Index would have to make a precipitous drop in order to kill the bull outright. Uptrend channel support, as I've alluded to this week, is a good way below the current market. Friday's support is 81.685, and that wide a drop would be a profit breaker even if it didn't hurt the uptrend.
For now stop trades at 82.820, or at 81.163.
Look For Relative Euro Rally
The prospect of a Dollar Index correction, of course, suggests a corresponding correction of the euro's ongoing downtrend against the dollar. The euro's downtrend low, recorded Thursday, is $1.2521. A minimum correction would, I believe take the euro back to the $1.2710-$1.2742 resistance band. That move would probably only delay an eventual test of target support at $1.2342.
(Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires. He can be reached at 212-416-2212 or by email at stephen.cox@dowjones.com.)
(Data by CQG)
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(END) Dow Jones Newswires
May 07, 2010 11:32 ET (15:32 GMT)
EUROZONE: Traders circulating a rumor that the ECB will announce an E600 bn loan facility this weekend that will be available to about 1100 banks. Not sure where the talk originates from but gaining wide circulation. We have not seen any official announcement.
EUROZONE: Traders circulating a rumor that the ECB will announce an E600
bn loan facility this weekend that will be available to about 1100
banks. Not sure where the talk originates from but gaining wide
circulation. We have not seen any official announcement.
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