IIFT Daily Note with Peter Brown

Trend Change?

Posted by:  |  Time: 8:03 am  |  Topic:  |  Comments: 2
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The Egypt situation has certainly prompted a rethink in direction across the board.

Dow well off the 12,000 tarket , and Euro looking vunerable. Gold to the upside.

We will see over the next few days how this all pans out.

In the meantime, Euro holding below pivot and 100 ma on 15 min chart. at 1.3638

Failure to get above there could mean a down day.

A lot of work behind the scenes on the Euro debt situation. Be carefull of news comming from that area.

Still in jobbing mode for a while yet. Don’t forget the straddle trade.

2 Comments

Peter Brown

January 31, 2011

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On the euro, broke the first pivot now fighting with the 200ma.
Above there we will test the 1.3740 area.
You should have 50 points in the bag from then straddle trade .

Peter Brown

February 1, 2011

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We are now at the top end of ranges again. Euro ,Oil etc,
Pivot to the top side on Eur/usd is at 1.3767.
Euro wants to go higher think it will make it in the end.
Hourly chart a little over bought migh need to come back a bit first.
Gold rangs bound.