| Euro Future: successful trade and next steps |
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| Monday, 09 November 2009 15:31 | |||
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Last Wednesday, in this article, we were giving our view on the EUR/USD futures, saying that we were expecting it to break up the resistance set at 1.4850, and that area would be a good opportunity to open long positions once the break had happened. It actually did break the resistance and it is now trading very close to its year high (1.5049, Oct 23rd). As for the immediate future, we expect it to touch again its high, where it will find a strong resistance. That's where we'd close the long position opened at 1.4850. In case of further break of the 1.4850 level, we might see a strong uptrend movement towards 1.60.
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EUR/USD, JPY and GBP
26 November 2009 12:29
USD/JPY dropped from levels above 87.00 to 86.25 during Asian session, and the pair picked up to 87.00 previous year low although it has failed to break above here, and has eased to 86.70.EUR/USD rally from 1.4885 low on Wednesday reached 1.5145 on early Asian session, and the pair pulled down to 1.5050 low during European session to bounce up and reach levels right below 1.567.GBP/USD decline from 1.6730 has extended during European session, with the Pound dropping about 225 pips during the...
26 November 2009 12:29
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