 | |  | | Daily Show Archive 2002
Daily Show March 2003
May 9, 2003
As expected, market’s technical outlook favoring majors’ buying won the day, as USD retreated to new lows in the last session. With CAD buyers marching below the benchmark 1.4000 support, their next target will be the 1.3660 level. The rest of the gang will continue to bank on their newly found momentum to probe EUR 1.1620, GBP 1.6250, SWF 1.2730, AUD 0.6500, and JPY 115.00 (then 111.80). However, for those who still want to buy, the risk of getting caught by sudden counter waves, courtesy of rumors and central bank interventions, is rising. If one must buy, JPY 118.20, GBP 1.5850, and SWF 1.3230 may be worth trying, if the market goes there in the coming session. Stay tuned for Weekly Show.
Took profit on EUR’s 1.1350 buy position at 1.1400.
Holding AUD’s 0.6300 sell position, RRR-250/+150pts.
Bought JPY at 116.80, RRR-50/+50pts, or take profit at close.
Wait to buy JPY at 118.20, RRR-50/+200pts, or take profit at close.
Wait to buy GBP at 1.5850, RRR-50/+200pts, or take profit at close.
Wait to buy SWF at 1.3230, RRR-50/+200pts, or take profit at close.
Wait to sell EUR at 1.1620, RRR-150/+300pts, or take profit at close.
Wait to sell GBP at 1.6270, RRR-50/+200pts, or take profit at close.
Wait to sell SWF at 1.2730, RRR-150/+300pts, or take profit at close.
Wait to sell AUD at 0.6500, RRR-50/+300pts, or take profit at close. |  |  |  |  |
|