Ramsey
07-08-2002, Wed 10:32 AM
عن بنك فيلادلفيا
Euro/US Dollar - Aug 7
Wednesday, August 07, 2002
EUR/USD - (0.9673) 06:23 CET - EUR/USD has been to as low as .9625, but should rally back to .9700/10 area later in the day. From there, expect further declines to .9570/50 area, and therafter perhaps to .9500 before this enormous correction is over. This particular correction phase is shaping out to be a retracement of the entire bull market from the February .8566 trough, and is perhaps the a counterpart of the Sept 01 - Jan 02 sideways consolidation.
Recommendations:
Sell at .9700. Initial stoploss: .9775. Trading objective: .9500.
US Dollar/Japanese Yen - Aug 7
Wednesday, August 07, 2002
USD/JPY - (120.86) 06:25 CET - USD/JPY may also pullback further, with support appearing at 120.75/70 area. The rally may, after all, reach the 121.50 "sweet spot" and should even make a go at the 122.00 high point of the target band (reinstate after breach of 120.00 +swing level+). Allow for an overshoot to 123.00 - 123.50.
Recommendations:
Buy at 120.75. Initial stoploss: 119.75. Trading objective: 123.00.
US Dollar/Swiss Franc - Aug 7
Wednesday, August 07, 2002
USD/CHF - (1.5082) 06:27 CET - USD/CHF may extend the current pullback to 1.5035/25 area, followed by further rally to 1.5200 area. Further out, expect 1.5400. This upmove "corrects" the fall from the 1.7226 top in January.
Recommendations:
Buy at 1.5065. Initial stoploss: 1.4910. Trading objective: 1.5350.
British Pound/US Dollar - Aug 7
Wednesday, August 07, 2002
GBP/USD - (1.5402) 06:29 CET - GBP/USD is also pulling back to 1.5425/30 area, but should fall again. It does look like a 1.5270 target developing, and thereafter further declines to 1.5150 for a retest. The corrective phase retraces the uptrend from January 02 1.4646 low.
Recommendations:
Sell at 1.5420. Initial stoploss: 1.5515. Trading objective: 1.5150.
Australian Dollar/US Dollar - Aug 7
Wednesday, August 07, 2002
AUD/USD - (.5298) 06:32 CET - AUD/USD saw a pullback to just under .5320, but the downtrend is now well established and support may appear only at .5200 - .5180 short-term then to .5050 - .5025 further out. NZD/USD has faded out after a .4535 uptick, and may extend losses to .4420 - .4400. Further out, expect .4300.
Recommendations:
Hold short NZD/USD (.4665). Move stoploss from .4620 to .4565. Trading objective: .4300.
US Dollar/Canadian Dollar - Aug 7
Wednesday, August 07, 2002
USD/CAD - (1.5867) 06:33 CET - USD/CAD pulls back further to 1.5800 levels, where support should be firmer. But 1.6000 resistance has already been taken away and the rally may find stronger resistance only at the 1.6186 top seen in January.
Recommendations: Hold long (1.5910). Move stoploss from 1.5825 to 1.5790. Trading objective: 1.6175.
Euro/Japanese Yen - Aug 7
Wednesday, August 07, 2002
EUR/JPY - (116.95) 06:36 CET - support appeared at 116.60, but nonetheless, allow for the downdrift to go as low as 116.20 - 116.00. Nonetheless, the main trend remains to the upside, looking for a probe of the 119.30 resistance, then on to 122.00 and perhaps 124.00 further out.
Recommendations:
Hold longs (117.20). Stoploss at 116.35 or 117.20 OCO.
Euro/British Pound - Aug 7
Wednesday, August 07, 2002
EUR/GBP - (.6286) 06:38 CET - still on a sideways consolidation, and we may see test of the lsupport at .6250. We keep the upwards bias for a little longer. We need to see a move above .6320 to kickstart the upmove going. The next natural upside target is the .6450 resistance, and we reinstate .6600 targets if warranted later.
Recommendations: Hold longs (.6266). Keep stoploss at .6230. Trading objective: .6450.
Euro/Swiss Franc - Aug 7
Wednesday, August 07, 2002
EUR/CHF - (1.4590) 06:43 CET - the cross has been to as high as 1.4590, but the cross will probably pull back somewhat to 1.4565. Expect further rally to 1.4620, but perhaps no higher.
Recommendations: Stand by.
British Pound/Japanese Yen - Aug 7
Wednesday, August 07, 2002
GBP/JPY - (1.8614) 06:45 CET - no change in the view -- cross trades sideway, looking more and more like a triangle, with some change in implications. Look for a small sell-off possibly to 1.8500. The uptrend should resume thereafter with 1.9000 - 1.9200 as target band.
Recommendations: Hold long (1.8611). Move stoploss to 1.8585 or 1.8650 OCO.
Euro/US Dollar - Aug 7
Wednesday, August 07, 2002
EUR/USD - (0.9673) 06:23 CET - EUR/USD has been to as low as .9625, but should rally back to .9700/10 area later in the day. From there, expect further declines to .9570/50 area, and therafter perhaps to .9500 before this enormous correction is over. This particular correction phase is shaping out to be a retracement of the entire bull market from the February .8566 trough, and is perhaps the a counterpart of the Sept 01 - Jan 02 sideways consolidation.
Recommendations:
Sell at .9700. Initial stoploss: .9775. Trading objective: .9500.
US Dollar/Japanese Yen - Aug 7
Wednesday, August 07, 2002
USD/JPY - (120.86) 06:25 CET - USD/JPY may also pullback further, with support appearing at 120.75/70 area. The rally may, after all, reach the 121.50 "sweet spot" and should even make a go at the 122.00 high point of the target band (reinstate after breach of 120.00 +swing level+). Allow for an overshoot to 123.00 - 123.50.
Recommendations:
Buy at 120.75. Initial stoploss: 119.75. Trading objective: 123.00.
US Dollar/Swiss Franc - Aug 7
Wednesday, August 07, 2002
USD/CHF - (1.5082) 06:27 CET - USD/CHF may extend the current pullback to 1.5035/25 area, followed by further rally to 1.5200 area. Further out, expect 1.5400. This upmove "corrects" the fall from the 1.7226 top in January.
Recommendations:
Buy at 1.5065. Initial stoploss: 1.4910. Trading objective: 1.5350.
British Pound/US Dollar - Aug 7
Wednesday, August 07, 2002
GBP/USD - (1.5402) 06:29 CET - GBP/USD is also pulling back to 1.5425/30 area, but should fall again. It does look like a 1.5270 target developing, and thereafter further declines to 1.5150 for a retest. The corrective phase retraces the uptrend from January 02 1.4646 low.
Recommendations:
Sell at 1.5420. Initial stoploss: 1.5515. Trading objective: 1.5150.
Australian Dollar/US Dollar - Aug 7
Wednesday, August 07, 2002
AUD/USD - (.5298) 06:32 CET - AUD/USD saw a pullback to just under .5320, but the downtrend is now well established and support may appear only at .5200 - .5180 short-term then to .5050 - .5025 further out. NZD/USD has faded out after a .4535 uptick, and may extend losses to .4420 - .4400. Further out, expect .4300.
Recommendations:
Hold short NZD/USD (.4665). Move stoploss from .4620 to .4565. Trading objective: .4300.
US Dollar/Canadian Dollar - Aug 7
Wednesday, August 07, 2002
USD/CAD - (1.5867) 06:33 CET - USD/CAD pulls back further to 1.5800 levels, where support should be firmer. But 1.6000 resistance has already been taken away and the rally may find stronger resistance only at the 1.6186 top seen in January.
Recommendations: Hold long (1.5910). Move stoploss from 1.5825 to 1.5790. Trading objective: 1.6175.
Euro/Japanese Yen - Aug 7
Wednesday, August 07, 2002
EUR/JPY - (116.95) 06:36 CET - support appeared at 116.60, but nonetheless, allow for the downdrift to go as low as 116.20 - 116.00. Nonetheless, the main trend remains to the upside, looking for a probe of the 119.30 resistance, then on to 122.00 and perhaps 124.00 further out.
Recommendations:
Hold longs (117.20). Stoploss at 116.35 or 117.20 OCO.
Euro/British Pound - Aug 7
Wednesday, August 07, 2002
EUR/GBP - (.6286) 06:38 CET - still on a sideways consolidation, and we may see test of the lsupport at .6250. We keep the upwards bias for a little longer. We need to see a move above .6320 to kickstart the upmove going. The next natural upside target is the .6450 resistance, and we reinstate .6600 targets if warranted later.
Recommendations: Hold longs (.6266). Keep stoploss at .6230. Trading objective: .6450.
Euro/Swiss Franc - Aug 7
Wednesday, August 07, 2002
EUR/CHF - (1.4590) 06:43 CET - the cross has been to as high as 1.4590, but the cross will probably pull back somewhat to 1.4565. Expect further rally to 1.4620, but perhaps no higher.
Recommendations: Stand by.
British Pound/Japanese Yen - Aug 7
Wednesday, August 07, 2002
GBP/JPY - (1.8614) 06:45 CET - no change in the view -- cross trades sideway, looking more and more like a triangle, with some change in implications. Look for a small sell-off possibly to 1.8500. The uptrend should resume thereafter with 1.9000 - 1.9200 as target band.
Recommendations: Hold long (1.8611). Move stoploss to 1.8585 or 1.8650 OCO.