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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
gl...
http://www.bloomberg.com/video/64414220/
Ashraf
i don't know who made that comment but i think it's irrelevant whether we close above 3720 or not...
critical level is 3900 level imo... should clearly close above it... and break above 3975 confirms move up first... to possibly as high as 4200 level...
looking at weekly candles... the range has been 350/400 pips... for past 2 months..
the high for the week was 4085 then printed low around 3670(could be the low for the week... ) which means over 400 pips already...
we may see recovery to 3900 level already... but like i said earlier need to close above 3900(first signal) and break above 3975(confirmation) for move up to 4150/4200 level..
if it can not stabilize above 3900 level.... risk of furhter down to 3600 then possibly 3400 level...
EUR/USD is balancing on a knifes edge at the moment. If we close below 136.96-137.20, the tad is down. So far, the fundamentals have beat the technical aspect. We believe that the direction for EUR/USD is downward in the slightly longer term (3M). But whether the rate will fall down towards 133 and subsequently 130 already now or in the coming weeks depends on whether we will close below the above level around 137. Until we see a breach of this level, we maintain our price target of 142 but point out that we are just now in a critical phase.