???URO update – $EURUSD $6E_F

Weakness during the first few days of the week found support at 1.2890-1.2935  area, which was noted before in several posts, over the last few days. I´ve been watching this area for almost a week, now.

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This area is not random in my analysis, but relates to a precedent situation (as noted on the chart below) in mid-September where the upmove gained thrust on the move to swing highs. Therefore, it is an important area, the way I look at things. The next meaningful support area in my analysis is 1.2750 – 1.2810

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As for today/next few days, I´ll be looking at 1.2964 – 1.2985 area and -more importantly- 1.3045 -1.3080. 

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???URO – looking forward $EURUSD $6E_F

I was wrong on Fridays´s post. The big move never occoured.

After beign rejected at 1.3180-1.3120 level, dating back to late April/early May -as shown in the chart below- it found support in the 1.2890-1.2940 area, which was noted as a meaningful area where buyers acted before, on the Sep. 19 post.

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It has been fairly balanced during the last week and I rather prefer to wait and see what happens once the above referenced areas are tested. 

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As noted on the chart above, there´s been strong buyer´s interest in 1.2890-1.2940 area. My thinking is, if this area doesn´t hold, likely is that it will test 1.2755-1.2810 band, due to small interest in the 1.2805-1.2895 area. On the upside, 1.3050-1.3090 is the first threshold, followed by the -previously tested-  1.3120-1.3180, which has worked almost to the tick as seller´s got interested in acting -I´m attaching a close-up on the chart below.

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Provided sellers are not successful in defending this area on a third attempt, the area between 1.3210-1.3250 is the one I´ll be watching, followed by 1.3285-1.3358, dating back to the last week of March.

Yyyy

 

Dirty Business $XLF

Vlcsnap-2010-02-25-23h21m59s47

Just finished reading a great piece on the NYTimes about the inner workings between the organized crime and financial institutions.

The United Nations estimated that $1.6 trillion was laundered globally in 2009, of which about $580 billion was related to drug trafficking and other forms of organized crime.

“Where The Mob Keep Its Money” covers thoroughly what has been and incestous but mutually-benefical relationship dating back to many decades -if not centuries, which has gained the spotlight after the attacks of September 11. No wonder why Legal & Compliance is one of the few areas in the sector that is actively hiring.