2008-09-21

Trade Ideas 22nd September - II

USDPLN


BUY 2.2350 STOP 2.2000 TARGET 2.4600

In a deteriorating climate there is no way emerging market currencies can sustain their strength. USD has crossed 89 EMA to the upside and recent fall should give an opportunity to buy. Also up trend from these levels would signal start of wave 1-2 making the upside target way too high (to be calculated when markets show the up trend from 89 EMA bounce).

Other European Emerging Markets currencies have similar pattern it would be wise to keep an watch on them.

INDICES


Most indices are enjoying a bounce after the "Paulson Put". However how long that up trend continues depends upon if they can cross their 89 EMA. Otherwise they are setting up for a nice short again. One to watch!



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-VS