Re: EURGBP

UBS stratégia a dátum adott.

25 Feb 2010 09:52 GMT

EURGBP Remains A Buy

Continue to look for a break higher in EURGBP. The key levels to watch this morning are 0.8838, which is trendline resistance drawn off the 0.9411 high from Oct. 13, and 0.8852, the Dec. 17 low. Daily and intraday momentum conditions are positive, which makes the cross on a buy dips, with initial support at 0.8751. Key support remains 0.8658.

A break up through 0.8838-0.8852 would mark an important reversal, paving the way for gains to 0.8958 initially. Above 0.8958 lies another important resistance at 0.9154. On the downside, a break below 0.8658 is required to offset any bullish potential, and would instead expose 0.8604 - but look for 0.8751 to hold for now.

Strategy: long from 0.8793, targeting 0.9050, with a stop at 0.8735.

Please see the attachment for a technical chart, plus discussions, with charts, of the risks of a reversal in the bearish EURUSD trend and a break in Bund yields down through 3.08/10.