eur/$
[13:19 EUR/USD: Repeated selling attempts finding Buyers] New York, July 31: A
slide to support at 1.1280 continue to emerge as the market seems to have gotten
too short and is having difficulty maintaining the negative slant in prices
today. Support at 135.50 in EUR/JPY also seems to be a positive factor in
supporting EUR/USD from making fresh lows. The ECB has endorsed BDF"s Trichet as
the next ECB head, with no objections to his proposed ascendancy. He still needs
the endorsement of the European Parliament, which is expected to give it in Sep.
Those looking for big stops and further EUR/USD weakness will have to wait until
1.1250, so selling at these low levels seems overly risky. Look for a rally
toward option expirations at 1.1350 before another aggressive dip and expect
choppy price action given the recent volatility and month-end conditions. --
[13:19 EUR/USD: Repeated selling attempts finding Buyers] New York, July 31: A
slide to support at 1.1280 continue to emerge as the market seems to have gotten
too short and is having difficulty maintaining the negative slant in prices
today. Support at 135.50 in EUR/JPY also seems to be a positive factor in
supporting EUR/USD from making fresh lows. The ECB has endorsed BDF"s Trichet as
the next ECB head, with no objections to his proposed ascendancy. He still needs
the endorsement of the European Parliament, which is expected to give it in Sep.
Those looking for big stops and further EUR/USD weakness will have to wait until
1.1250, so selling at these low levels seems overly risky. Look for a rally
toward option expirations at 1.1350 before another aggressive dip and expect
choppy price action given the recent volatility and month-end conditions. --
((((((9
)))))) /momenta/
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