More PIA-first, 6 hours ago13 December 2011 EURUSD's move through 1.3212 triggered an outright sell signal for this week and the market moved to the most negative levels traded for 2 months yesterday. It was the most negative daily performance for more than 1 month and also took intraday signals for sentiment to oversold extremes.
The subsequent rally is assessed as minor and temporary.
In view of this our call is Bearish below 1.3255. The immediate objective is 1.3161, the overnight low, with a move below that point targeting 1.3146, October’s bottom, then towards 1.3102.
The risk to this call is that oversold extremes begin to correct earlier and higher than currently assessed. This would be signalled by a move above 1.3255, yesterday's European afternoon open, with subsequent upside targeting 1.3284, half of yesterday's net decline, then 1.3325.
No hay comentarios:
Publicar un comentario