Posted this last night

December 16, 2011 by Gerry Davies · 12 Comments (Edit)

I read FX Concepts Market Insight earlier this evening (out today) In it one of their guys says they see possible bottom today above 1.2880, followed by trading higher into final days of the year. They’re not expecting the rally to surpass resistance in the 1.3200 area. If seen they think it’s a good area to sell. Expect downside to resume in second half of January with 1.2500 target. Longer term objective is the 1.1200 area.

Probably worth making a note of the 1.2880 and 1.3200 levels.

UPDATE: We’re presently all the way down at 1.3085.

Talk of buy orders clustered 1.3050/65.

It’s a funny old World

Periphery/German bond yield spreads have widened out post LTRO allotment news.