29 March 2011

EUR/USD : Pre-ECB Thoughts

  • Long for all of this month already. In the money.
  • Trichet comments again yesterday re: EU inflation "durably above" ECB's target all but seals rate hike next week barring fresh worrying developments in Japan.
  • 1.4281 long standing target in EUR/USD here. Best guess now is that we reach that on confirmation of the ECB move, and then stop around the monthly resistance line at around 1.4350. Strategy here planned according to that scenario.
  • Weekly and (especially) daily charts showing recent consolidation likely over and up move continuation underway.

1 comment:

Taichiseal said...