Sunday, March 29, 2009

last week's calm before this week's storm?

Nothing nothing lost! Last week's dollar bear calls were not triggered so it was all quiet on the candle front.
Last week's dollar strength has given us a much different picture as we gaze into a week enlivened by the G20 summit, the ECB interest rate announcement and Friday's NFP.
EUR/USD: the euro did no more than trade within the previous week's range. Last week's key level around 1.32 still stands and price development at this level will give us a better idea on direction.
GBP/USD: Cable's gone bearish and I'll be looking for a signal to sell between 1.4350 and 1.44.
USD/JPY: last week gave us a bullish piercing lines. However, a dollar rise will be strongly resisted between 98.50 and 100.
USD/CHF: the swissy is trading in a range atm. Key levels are 1.15 and 1.1260

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