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JPY: Possibly attempt the tiniest longs at 95.35

Posted by Mizuho Corporate Bank in October 24th 2008  
EUR Comment: Clinging to a low at 1.2726, its lowest since mid-November 2006, as one-month at-the-money implied volatility is hideously expensive at 21.60%, just below last week’s record 22.75%. Bearish momentum has eased a little and the Euro remains grossly oversold. Be very careful as moves like this are not sustainable. The collapse from July’s record high takes the shape of an A, B, C-type correction where C equals A. Strategy: Do nothing if you can. For those who have to: attempt small Read More...

Filed under: Technical