Nov
23
Real money accounts, leve
ByReal money accounts, leveraged names are cited as consistent sellers
of [EUR/USD]. Despite booming EMU flash PMIs earlier, concerns over the
peripherals continue to win out and a new low for the day of 1.3516 has
just been registered. Moody's admits it is concerned about Portugal and
next stops through 1.3500 look vulnerable. The near-term trend looks to
be in place and clearly sentiment towards the Euro is relatively negative,
but in truth, we will refrain from turning too bearish at this stage,
while price holds above the 1.3446 (Nov 16 low) and the 1.3435/40 fibo
(50% of 1.2588/1.4283 move). Big stops below, we are told
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