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$1.4200 strong offers on the way/option expiry
$1.4180 intermediate offers
$1.4150/60 strong offers/$1.4150 option expiry
$1.4148 intraday highs Europe, Asia $1.4100
$1.4100 expiry
$1.4090 retracement lows from $1.4148
$1.4080 option expiry
$1.4055 interim demand from $1.4090 to $1.4055
$1.40481 intra-Asia low/demand in $1.4050/40 area
$1.4030/20 demand and stops
$1.4000 strong demand approaching/barrier $1.40/1.45
$1.3980 intermediate demand
$1.3950/40 large stops
$1.3930-00 option expiry
at 1.4150 (Fibo 38) broken by the offer + comments from the Spanish and Portuguese minis
2011.05.16 15:13:57 *Spanish Finance Minister: No Greek debt restructuring expected
EUR/USD = 1.72.
NYROBA, missing, good to see you!
Is your key jammed or something?
Two reports from the US - two disappointments.
However, currencies showed little or no sharp reaction to the releases. Rather, as traders comment, the reason for the single currency strengthening was the fact that markets, after some confusion, came to the conclusion thatthe absence of Strauss-Kahn would not be a long-term obstacle to IMF bailout funds for European countries .
2011.05.16 16:07:36 *Bini Smaghi expects economic growth to slow but recovery to continue
2011.05.1616:08:46 *Binis Smaghi: Conditions regarding economic growth support ECB policy strategy
2011.05.16:11:07 *Binis Smaghi: ECB will act decisively if inflation risks persist
2011.05.16:10:34 *Binis Smaghi expects inflation rate to exceed 2% "for many months
So where are we at?
The idea of 1.4157 -- a test of the head and shoulders neck -- and up...
Or chew through the Fibo level -- and up...