Euribor – March 2010

Nicole Elliott from Mizuho Corporate Bank at 10/22/09

Comment: Having met the minimum downside objective of this year’s fourth and smallest corrective move lower, life gets more difficult. Despite moving averages being bearish we feel that the combination of trendline support and the bottom of the Ichimoku cloud will stem this latest small decline.

Strategy: Attempt small longs at 98.940; stop well below 98.875. Add to longs on a sustained break above 99.000 for 99.150 medium term and maybe more.