Hot-Charts
EURCHF Still has Legs
by
Apr 9, 2009 13:43
| 9 Comments

EURCHF rally has more legs as the franc-selling intervention is reminded by the SNB and the Euro licks wounds from another credit downgrade (Ireland). But an expected rejuvenation of risk appetite ahead of the Easter break could bolster EURCHF back to 1.53 and onto TL resistance of 1.5350. Holding above the 100-day MA was a positive sign, while the stabilization of stochastics at the 70.87 paves the way for fresh momentum.
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Tks
Ashraf
Ashraf
I have been monitoring EURCHF since april 9th but it does not seems to break to 1.53. Today it went below 1.52. Does your Hot Chart on EURCHF still stands? Do we excpect to see a reversal to 1.53 from current level?
http://www.ashraflaidi.com/charts/speculators-futures-fx-positions.asp
The fundamentals for FX carry trades were coming back as stocks rallied over the last 4 weeks. But be careful as this may change for yen positions in the event that stocks fail to rally beyond current levels.
Ashraf
I have read your chapter 5 of your book.
Can you introduce which website can show updated net long/short position of each currency in
chicago merchantile exchange IMM?
are the fundamentals of carry trades coming back shortly?
do you expect copper price to peak or Aussie to break above 0.72 this coming week?
thanks
Andrew
Ashraf
The unemployment rate in Canada has reached 8% but EUR-CAD has dropped to 1.6135. Is there a specific reason for that?
Thanks
Houram