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  • Faro Seven Ing Update 080510

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    EUR / USD finished where it started, at 1.3200 and above the 1.3106 fibo level. GBP / USD is trading approximately 2.5% above its 200 day at 1.5531 and just under resistance at 1.6000. EUR / GBP stalled at 0.8250 area which was above the early June low at 0.8220 which leads me to believe a test of the 100 day at 0.8515 may be in the cards in the short term.

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    EUR / USD finished where it started, at 1.3200 and above the 1.3106 fibo level. GBP / USD is trading approximately 2.5% above its 200 day at 1.5531 and just under resistance at 1.6000. EUR / GBP stalled at 0.8250 area which was above the early June low at 0.8220 which leads me to believe a test of the 100 day at 0.8515 may be in the cards in the short term.

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    22 vues1 page

    Faro Seven Ing Update 080510

    Transféré par

    api-31029184
    EUR / USD finished where it started, at 1.3200 and above the 1.3106 fibo level. GBP / USD is trading approximately 2.5% above its 200 day at 1.5531 and just under resistance at 1.6000. EUR / GBP stalled at 0.8250 area which was above the early June low at 0.8220 which leads me to believe a test of the 100 day at 0.8515 may be in the cards in the short term.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
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    1 Dock Street

    Stamford, CT 06902
    www.farostrading.com
    www.twitter.com/FarosTradingLLC

    FAROS TRADING | FX EVENING UPDATE

    Market Summary – 08/05/2010

    flows although ‘official’ interest was seen buying.

    Good Evening USD/CAD met with real money selling on the bounce off
    of the 1.0108 low but it wasn’t enough to keep the pair
    The market whipsawed in a pre-NFP, August, low liquidity,
    from rallying back to 1.0170. The 1.0200 level needs to
    stop driven way throughout the NY session with the
    hold for the 1.0000 level to trade in the near term.
    EUR/USD finishing where it started, at 1.3200 and above
    the 1.3106 fibo level. Flows were on the lighter side but USD/MXN rallied back to the 12.6000 level amid news
    ranges were decent and trends for the most part have that GS recommended selling MXN vs. CLP as well as
    held for now. news that Mexico’s Werner will likely leave his post.

    It feels like the GBP/USD has done the heavy lifting on this The IMF indicated that the BRL was likely overvalued and
    USD move lower and the EUR/USD has a little catching up many in the speculative community seem to agree as we
    to do, which means EUR/GBP may be due for a correction continue to hear of macro unwinding USD/BRL shorts.
    higher. GBP/USD is trading approximately 2.5% above its
    200 day at 1.5531 and just under resistance at 1.6000 A US Treasury spokesperson denied that President
    while EUR/USD is trading approximately 2.5% below its Obama had a change in policy in mind for Fannie and
    200 day at 1.3541 and just above its 38.2% fibo level at Freddie after a Reuters political analyst published an
    1.3106. EUR/GBP stalled at 0.8250 area which was above article discussing mortgage alterations within Fannie and
    the early June low at 0.8220 which leads me to believe a Freddie as a next wave of economic stimulus to be timed
    test of the 100 day at 0.8515 may be in the cards in the with upcoming elections. Rating agency Fitch was also in
    short term. A move like that in EUR/GBP would bring the news downgrading $7bn of Chicago bonds.
    EUR/USD comfortably up to its 200 day at 1.3541 while
    The Asian session is likely to be quiet ahead of the US NFP
    keeping GBP/USD steady.
    and maybe we see a little more profit taking in the NJA
    Markets in NY opened in a positive tone after the reversal space ahead of the data. USD/KRW and USD/IDR may be
    higher in EUR/USD and GBP/USD in the London session on two likely candidates but I would estimate flows to be
    a better than expected Spanish auction but the relatively light. USD/JPY and cross JPY will likely be met
    momentum was short lived as jobless claims data in the with another round of exporter interest to sell but again,
    US disappointed. The EUR/USD took out the stops below flows are likely to be light and ranges should hold for
    1.3160 after briefly trading 1.3220 before the data and we now.
    drifted off the lows to trade 1.3200 again into the close of
    Good luck
    the session. USD/JPY remained under pressure
    throughout the day with little in the way of meaningful

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