IIFT Daily Note with Peter Brown

Quiet trading

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We were range bound yesterday but interestingly we held on to Friday’s gains. Some good technical levels ahead. 1.3828 on the Euro is major resistance and a possible strategic short area. Euro strength is amazing but last time we were up here it proved to be the top. Also on the S&P the year high is just in sight at 1812.38 a break above here and 1815 would signal a move towards 1840. Nothing on the horizon news wise to suspect we will not try that break.

Maybe another quiet day but expect a run to the topside if no news emerges.

Levels today are   Euro 1.3770 1.3725  S&P (DEC) 1812.5  1802  Wall St (DFB) 16060  1600

Note. No blog tomorrow.

One Comment

Terry Pierce

December 11, 2013

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Think your EURUSD short call at 1.3828 could be a good one if we can get that high towards week end.