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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Rich1 who wrote (1201)	10/22/2001 11:49:23 PM
From: John Pitera	Respond to of 99280

the Dec Dollar index broke above it's 200 dma today while the euro broke below it's 200 dma Today's sell-off has taken the single currency through its 200-day moving average at $0.8947, which comes in just below the 38.2% retracement level of the euro's rally from early July until mid-September. More significant support comes in between the 100-day moving average at $0.8875 and the 50% retracement level at $0.8840. On a year-to-date basis, the 50% retracement level at $0.8840 represents the 38.2% retracement of the January to July sell-off. While the recent weakness in oil should seemingly provide support for the euro, it is important to remember that the ECB now appears to be focused on wage moderation as a more influential policy directive.