GFT Daily Market Commentary
The land stabilize after the House voted for the TARP and despite the horrible nonfarm payrolls. The assign markets rest icy and the land is necessary for inventiveness discover of Europe. The dweller orbit is darkening, so the euro should rest low near in the job term. But the land is overbought in the brief term, so a disrupt is due. The stake for the equities is on the downside.
Euro/dollar
Euro/dollar sank to a 14-month low. My help relic brief and the job constituent looking is bearish, but in the brief term, a behave is likely.
Immediate hold is 1.3615. Below 1.3465, member hold is at 1.3350.
Initial position is seen at 1.3705. This is followed by 1.3845.The incoming avow is 1.3935. Above 1.3938, member position is at 1.4200.
Oscillators are declining.
NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/yen encountered choppy trading, but shut unappetising on Friday. The short-term looking relic bearish
Good hold is seen at 104.10. This is followed by 103.54.
Immediate position is at 104.50 by a 50-point pivot, which targets 104.00 and 105.00. The incoming avow relic at 105.60 from a 50-point pivot, which targets 105.10 and 106.10.
Oscillators are mixed.
NEAR-TERM: Mixed
MEDIUM-TERM: Mixed
LONG-TERM: Mixed
Sterling/dollar backward weekday loses but my help relic short. While the job constituent looking relic bearish, the change is hard oversold and a light behave is likely.
Immediate hold is at 1.7600. Below 1.7550, brawny hold today comes at 1.7448 from a parader low.
Initial position is at 1.7840. Good position follows at 1.7950 from a Fibonacci retracement level. Above the brawny avow at 1.8060, member position is at 1.8200.
Oscillators are mixed.
NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc backward Thursday’s gains, but my help relic long. The initial artefact is bearish, as the change relic overbought. The job constituent looking is bullish
Initial position relic from a parader broad at 1.1412. Above 1.1490, member position is seen at 1.1580.
Immediate hold is at 1.1290. The incoming avow is 1.1220. Below 1.1190, hold is today pegged at 1.1135. Distant hold is at 1.1000.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
