Intraday Market Thoughts

5 Straight Winning Months for EURUSD Nearing Midpoint

by Ashraf Laidi
Dec 27, 2012 10:59

5 consecutive rising months for EURUSD –not seen since Dec 2010-Apr 2011 when the currency completed a 26% rallying cycle. Our 1.35 target is seen as the mid-point of the path to 1.47, which is projected in our main piece in the homepage. EURUSD posts its 3rd straight winning week, making it 6 rising weeks out of the last 7. US Crude oil regains its 200-DMA after failing to do so 3 times over the last 6 weeks. Frequency of updates and Premium Insights is less frequent then usual due to holiday schedule.  The last edition of the Premium Insights, had 11 trades hitting all targets, 5 stopped out and 3 in progress. 1 of 2 EURUSD longs remain progress, the other was stopped out. Both USDJPY longs and both EURJPY longs hit all targets. 1 of 2 CADJPY hit all targets, while the other stopped out. Both EURGBP in progress, the 1st long is 4 pips away from its 08220 final target. Both gold shorts and both oil longs hit all targets. 1st leg of silver's dual trades hit all targets, the other is in progress. Both GBPUSD stopped out - 1st long missed its final target of 1.6315 by 8 pips. Both AUDUSD stopped out.


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