Sand Spring Advisors LLC
Updated FX Views
June 2, 2002
by, Barclay T. Leib
A number of subscribers have asked us to update our views on Euro-fx and USD/JPY. We have been quiet on the currencies after having mis-diagnosed the direction of the breakout from the long coiling "pennant" formation of the GBP-DEM (Euro-GBP) chart. A bit more adroitly, we previously advised to exit longs in USD/JPY at Fibonacci resistance between 134.5-134.80, and have been uninvolved ever since.
At this juncture, we think it likely that the USD/JPY decline has largely run its course. A few pokes lower into late June may still occur, so there is no rush to re-establish a position long dollars yet, but we are starting to get ready to do so. Stay tuned for exact timing.
The euro meanwhile, still looks relatively sporty to the upside. As long as support near .8918 holds, our Fibonacci bands suggest that the 200-day moving average near .9766 will be tested, and a push up to 100.16 possible, if not likely. Once a .9766-100.16 target range is reached, we will turn agnostic again, perhaps even bearish the euro. Somewhere down the road, over the longer-term, we still feel an ultimate low near .7750-.7825 may be reached.
But for now, if we were to have one overall view, the euro-yen weekly price action (shown on the chart below) will continue to move higher.
Non-subscribers are invited to sign up for our premium level of service below.
How Your Articles Are Delivered
Upon the processing of your credit card or the receipt of a personal check, Sand Spring will e-mail you the articles requested as a Word attachment, and also provide you with a WWW address and password to view the article on the web without using Word should you so desire. Confirmation of your order will be immediate, and the actual article will follow by e-mail typically within a few hours and in all cases before the opening of NYSE trading on the following day.
Ordering by Credit Card:
Our shopping cart is designed for both physical and subscription products, so do not be confused too much when it asks you for a shipping address. A correct address is important only for credit card authorization purposes. Your e-mail information is the most important piece of information to us for proper delivery of your article(s).
Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.
If you order by credit card, your credit card will be billed as "Sand Spring Advisors LLC"
Take me back to the Sand Spring Home Page
Comments or Problems
Thank you for visiting Sand Spring Advisors LLC, Inc. We hope to hear from you again soon. For more information on Sand Spring Advisors actual programs, services, or to request a copy of a Disclosure Document, please phone us at 973 829 1962, FAX your request to 973 829 1962, or e-mail us at information@Sandspring.com
10 Jenks Road,
Morristown, NJ 07960
Phone: 973 829 1962
Facsimile: 973 829 1962
Best Experienced with
The material located on this website is also the copyrighted work of Sand Spring Advisors LLC. No party may copy, distribute or prepare derivative works based on this material in any manner without the expressed permission of Sand Spring Advisors LLC
This page and all contents are Copyright © 2002 by Sand Spring Advisors, LLC, Morristown, NJ