Filed under: Technical
EUR: Attempt longs at 1.5390/1.5360
Posted by Mizuho Corporate Bank in May 12th 2008
EUR Comment: A ‘doji’ candle on Thursday and on the weekly chart suggests we have found an interim low and will consolidate above here for several days. For this morning prices should hold above 1.5350 with a sustained break above 1.5450, while a break above 1.5500 should set off a short squeeze to 1.5555/1.5600. Strategy: Attempt longs at 1.5390/1.5360; stop below 1.5270. Short term target 1.5475, then 1.5550. EUR/JPY Comment: More signs of topping with a third black weekly candle. This week
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