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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
FED buying 10 y it is...so far.
the moment 4/8 hour candle closed above 3350 level... it has taken a clear direction.... it's headed north... we'll see minimal correction until we reach around 36xx level... any downside will likely be limited to 3320... i think Ashraf got this one very wrong... :)
pair trade area but swissshrimps fell on thru
,same price action 9/05 area weekly...north..14000 then a new crisis...chances?
only banana boat payin massa
Ignoring the fundamentals we had some warning on the 60 min chart that price didn't want to break the 127% ext sym level at 1.3175. It tested the level 4 times over a 4 day period and only managed to break once by 12 pips. We also had some warning from stocks on the vix which was alerting us very low level of fear. Nevertheless the market has been difficult to read with declining volumes for the holiday period not to mention the threat of a china rate hike which didnt materialise in favour of a further delay and interim reserve requirement increase once again which the mkt decided to shrug off.
I notice a lot of fading going on across various instruments. It may not be a good time of year for fading except for very quick scalps. In EU I want to see what happens at 1.3421.
ye but possibly 83 ye.