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Mix-Ansicht- UBS-Trader Talks - Frank1, 16.03.2001, 11:22
UBS-Trader Talks
16.03.2001 09:52:00
eur/usd lower on stoploss selling 0.8910 key support a break would target 0.8800
16.03.2001 08:31:00
TT-FX Eur/chf chart:
EUROPEAN OPEN: Rane abounds though bias is somewht negative, a break below the 1.5354 trend support lows from Dec through Jan and March should be first trigger signal though minor range base is at 1.5344. A break below this last level will surely focus the attention back on the 1.5292 area. This continues to be a market which looks particularly unattractive to technical trading and we suggest that you continue to scalp the narrow ranges. A break above 1.5466 is required to signal an upside breakout.
16.03.2001 08:28:00
TT-FX usd/chf chart:
EUROPEAN OPEN: Old Johnny greenback has confounded his critics bursting through the upper resistance at 1.6970 then 1.7040. On the downside these levels should now revert to price support though initially this morning there is no indication that these levels will yield and minor setbacks should be viewed as buying opportunities. A break above the 1.7160 intra-day high should see the dollar rally to the 1.7215/45 area. On the upside 1.7308 is 61.8% of the Nov/Jan decline from 1.8177 to 1.5903.
16.03.2001 08:26:00
TT-FX eur/usd chart:
EUROPEAN OPEN: We went short yesterday as a result of the break of the old 0.9018 support, this level should now revert to resistance and hence we do eexpect the Euro to break back above the 0.9020/30 area if this fresh decline is to be sustained. On the downside initial support is expected in the 0.8910 area 50% retrace of the entire Oct-Jan rally. Our objective at 0.8800 coincides with the 61.8% retracement of the 0.8370 to 0.9595 rally and is the a = c target as mentioned below. On a sustained break below 0.8900 we will look to trail our short stop to improve the risk reward.
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