Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (73330)	5/3/2010 11:44:33 AM
From: Haim R. Branisteanu	Read Replies (1) of 74559

How mature people managing other people's money make investment decisions EURO-DOLLAR: Despite overextended euro short positioning (Friday's CFTC data show spec euro shorts at record -89013 contracts), market players remain bearish and look to sell euro rallies. Offering a very big picture view, Jerry Ficchi of Brown Brothers Harriman takes a look at the monthly chart, where "last month's bounce from trendline support (derived from 2002 and 2009 lows) suggests that "the trend of high troughs remains intact. " The euro is nearing the downside parameter ($1.3100 support/resistance at $1.4875) of a "longer-term consolidation pattern. Ficchi is keeping a close eye on the 20-month moving average at $1.3720, a level the euro needs to vault to maintain upward momentum. "The failure to reclaim this level by the euro foretells of an eventual break of trendline support at $1.3100 enroute to $1.2700 (100-month moving average and trendline from 2005 and 2008 lows)," he says.

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