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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
will renew my vows soon..
euro gettin balzy
but looking at what happened yesterday... not sure if BOJ will jump in... knowing technically it could be bottoming out.... normal expectation would have been BOJ trying to protect sub 80 level... but it just settling at 78.xx level currently...
as for AUD.... could have seen top for now and big retrace on the cards... won't be surprised to see test of low 90's to mid 80's in coming months.... Aud could be the driver for a/y drop not yen....
Ashraf
big handles closed south and then reverse, they will bail unless boj rolls
a/y... still not out of danger.... if it can't clearly settle back above 77.80/78 level... see it testing 75.40 level again.... you wouldn't wanna see a close below 75.40 level.... that could put a big hole on the support side and next main support level would come in the 6x.xx level...
to the upside... if it manages to settle above 77.80/78 level.... main resistance would come at 79.40/50 level.... i think this one would be hard to crack imo....
yen needs to settle above 79.40/50 for move higher to 82.xx level....
i'd say it's a good sell if it manages to climb back to 79.40/50 for retest of 77 level....