Free technical analysis on Hong Kong stock market, world stock markets, foreign exchange market, commodities market, as well as some important notes for being a successful trader.
Sunday, October 18, 2009
Limited drop of USD against EUR (18-10-2009 Currencies)
After speculation that the Federal Reserve would trail central banks in raising interest rates, USD has dropped to 14-month low against Euro. By using fibonacci projections, there is a great barrier of 50%-line at 1.5058. Together with the block by the uptrend line, I believe the crazy rise would have a pause at around 1.5050. It would be a good idea to short Euro when it reaches this level.
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