 | |  | | Originally posted by 大白兔 at 2003-5-29 22:38:
I personally think it is quite right to buy Euro at 1.1700-20 tonight for a long-term sake. We study the trend and daw the conclusion.
The euro continued its retreat against the greenback for the third consecutive session, as traders take profits after the single currency hit an all-time high at 1.1932 on Tuesday. Markets are forecasting an ECB rate cut when the central bank deliberates monetary policy next week on June 5. While ECB officials have voiced an increased tolerance for the euro's appreciation, they have also signaled a greater likelihood of easing in monetary policy. Accordingly, the euro's decline versus the dollar can be attributed to the pricing in of a reduced interest rate differential between the Eurozone and the US.
EURUSD retreated to 1.1736, and now hovers at 1.1743. Support starts at 1.1715 - which marks the 38.2% retracement of the rally from 1.1369 (May 16) to 1.1932 (May 27), followed by 1.1685 and 1.1650 - which marks the 50% retracement of the aforementioned climb. A breach below will target 1.1620 and 1.1590 - the 61.8% of the above rally. On the upside, gains will encounter interim resistance at 1.1765, backed by 1.18 and 1.1845. Additional ceilings will emerge at 1.19 and 1.1932 - its record high.
EURJPY has drifted off its all-time high at 139.80, reached earlier in Tokyo trading. The pair now rests at 139.50. Resistance starts at 139.75-80, backed by 140 and 140.25. Additional gains will target 140.50 and 140.70. On the downside, support is seen at 139.20, backed by 139 and 138.60. Subsequent floors appear at 138.30, 138 and 137.80. |  |  |  |  |
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发表于 2003-5-29 15:38
