Forex Market Commentary for Sept 15, 2008 by Cornelius LucaGFT Daily Market Commentary
The land collapsed both on weekday and Monday, initially on anxiety most the assign manducate and the fortunes of some assets banks, and then after plans to delivery Lehman failed, the Bank of army is most to acquire Merrill Lynch, and AIG is covering a eery restructuring. The US timing had recovered likewise much likewise fast, and it should today rest low pressure.
Euro/dollar
Euro/dollar surged on weekday and then on Monday, and my help went long. A more uninterrupted feat is low way.
Above 1.4480, position is seen at 1.4545. Above 1.4625, position is at 1.4810.
Immediate hold is at 1.4330. Below 1.4180, hold is at 1.4110.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/yen has been cyclical up and downbound chronicle for fivesome chronicle and my help went brief primeval Monday. The downside is favored.
Initial hold is at 105.10. This followed at 104.50 by a 50-point pivot, which targets 104.00 and 105.00. The incoming avow is 103.40 from added 50-point pivot, which targets 102.90 and 103.90.
Immediate position is at 105.60 from a 50-point parader that targets 105.10 and 106.10. The incoming position grazed downbound to 106.75 from a 50-point pivot, which targets 106.25 and 107.25.
Oscillators are mixed.
NEAR-TERM: Bearish
MEDIUM-TERM: Mixed
LONG-TERM: Mixed
Sterling/dollar surged impressively on weekday and overturned my help long. The brief constituent is bullish.
Good position is at 1.8120. Above the brawny avow at 1.8190, boost position looms at 1.8280.
Below 1.7965, brawny hold is at 1.7780. This is followed by 1.7672.
Oscillators are mixed.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Immediate hold is at 1.1060. Below 1.1010, hold is pegged at 1.0885. This is followed by 1.0844.
Initial position comes at 1.1200. This is followed by 1.1360.
Oscillators are mixed.
NEAR-TERM: Bearish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
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[Source: Global Forex Trading Blog | GFT Forex]
