Monday 27 February 2012

The Relentless Pursuit

Good morning folks. 

Shower of blessings to start the week! 

A very disciplined market open during the NZ hours despite EUR positive news from G20 over the weekend. 

A few noteworthy events to note which can effect the timing of market moves this week:
  • Month end closing 
  • Fed Chairman Bernanke testifies
  • Beige Book 
Coincidentally, it will all happen on Wednesday.

For today, I continue to see a relatively shallow consolidation during the Asian timezone. No signs of weakening in the momentum despite overbought condition.  
E$ should continue to nudge higher into the 1.35/36 band before any more elaborate correction.

Added to my long E$ last Friday and status quo on the long EURCAD positions. However, I will be looking to scale out this week.

1.3430 to hold, 1.3360/70 news induced.


What do you think? Looking forward to your comment (tho I may not answer everything you ask!)

Follow me on Twitter @tangjas and have a great week!


2 comments:

  1. Not forgetting Wednesday's LTRO result!!

    ReplyDelete
  2. Conflicting technical signals: Took profit on all positions. E$ @ 1.3408 EURCAD @ 1.3457

    Square for now. Await new buy signals.

    ReplyDelete