The summit of finance ministers in Brussels yesterday has led to nothing, or rather the fact that the euro zone alone could only get out of the crisis. Also, rumored to appeal to IMF to provide the financial aid fund. Our advice in the morning, the parity is left down this morning on our area of media 3280/70. The MACD is bearish 30 mns while 4h is still bullish. But a passage in 3250 and especially a return to 3220 could weaken greatly 4h and send the parity of 3150 see below …..
If we can take 3280/70, then we could go back to 3320/50. Why will buyers of stoploss in 3260. But one should wait a bullish signal on 30 mins and so far it is not the case.
Because of this and as long as we remain in 3320/30, the trend is expected to remain bearish for 3150.
Difficult market this morning with a euro that despite a good number of German unemployment remains in a range between 3270 and 3330. The post- twelve o’clock is not likely to be more interesting, since we expect the beige book tonight at 20:00. Our board of the post- noon, the market should remain as in a range like this morning still in 3270, the risk of a bearish cross on the 4h macd.
On the downside, and in 3270, the parity will return to test 3250 and above 3220/10.
If we can keep- over 3280/70 with stoploss below 3260, then we should be back on this morning 3320/50 which is currently the area of resistance.
A passage above 3350 would be bullish for 3380 and why not 1.34.
In conclusion, it will remain slightly bullish before the Beige Book tonight. However, one should not expect much and the market should look like this morning. Let’s play points by making appropriate stoploss.