Tom Fitzpatrick, senior technical analyst at Citibank in New York.
Monday, July 15, 2002
"Parity is a psychological, not a technical level...and whether we pause around parity or not, we are likely to see significant further dollar losses...Our initial target is $1.03 to $1.0450. If that level is taken out, it actually casts a question mark against the whole of the dollar's rally of the last seven years, and could open up a full-blown bear market for the dollar."
Thursday, February 5, 2009
current trades
S 100,000 usd/jpy from 116.15 , stop 116.32
S 70,000 usd/chf from 1.4563 , stop 1.4607, tp 1.45
S 70,000 usd/chf from 1.4563 , stop 1.4607, tp 1.45
new trade
Short 150,000 usd/jpy from 116.15 , stop 116.32
* this trade is comprised of two positions- one for 100,000 and a second for 50,000 .
The usd/jpy trade is in response to a fall below 116.20 towards 116. We'll have to see what happens at 116 , but I'm assuming it will penetrate towards 115.7 again.
eur/usd is up to 1.0080 again. There's a good chance it will hit 1.01 tonight , but to this point hasn't displayed sufficient momentum to break significantly higher. I'm frankly not sure which way it will move in the near term , so I'm sitting still. If there's a retracement to .99 or .98 , these levels might provide good buying opportunities. I have a suspicion that we'll be looking at 1.025 within the next month. This may not last long , but until dollar pressure has abated somewhat the dollar down draft will pull the euro higher.
* this trade is comprised of two positions- one for 100,000 and a second for 50,000 .
The usd/jpy trade is in response to a fall below 116.20 towards 116. We'll have to see what happens at 116 , but I'm assuming it will penetrate towards 115.7 again.
eur/usd is up to 1.0080 again. There's a good chance it will hit 1.01 tonight , but to this point hasn't displayed sufficient momentum to break significantly higher. I'm frankly not sure which way it will move in the near term , so I'm sitting still. If there's a retracement to .99 or .98 , these levels might provide good buying opportunities. I have a suspicion that we'll be looking at 1.025 within the next month. This may not last long , but until dollar pressure has abated somewhat the dollar down draft will pull the euro higher.
New York Stock Exchange
View of the trading floor at the New York Stock Exchange.
New York Stock Exchange is not open to the public for visits or tours.
New York Stock Exchange is not open to the public for visits or tours.
Stock Exchange, London, England, 1999
Stock Exchange, London, England.
The London International Financial Futures and Options Exchange is all hustle and bustle on a busy day. Founded in 1982, LIFFE contributes to London's status as one of the world's leading financial centers.
(Photograph shot on assignment for, but not published in, "London on a Roll," June 2000, National Geographic magazine)
Russia's New IXSP Stock Exchange
The new IXSP stock exchange is coming to St. Petersburg - but when will it start trading?
(“NASDAQ Entering Russian Stock Market?”) I wrote about the OMX Group's (STO:OMX) plans to establish IXSP – a new Russian stock exchange that is targeted towards small to medium sized enterprises (SMEs). It seems that this process is accelerating. Now the IXSP has its own web-site – a very nice but simple one, listing major ideas that the promoters are planning to execute.
(“NASDAQ Entering Russian Stock Market?”) I wrote about the OMX Group's (STO:OMX) plans to establish IXSP – a new Russian stock exchange that is targeted towards small to medium sized enterprises (SMEs). It seems that this process is accelerating. Now the IXSP has its own web-site – a very nice but simple one, listing major ideas that the promoters are planning to execute.
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