Quote of the day: People rarely succeed unless they have fun in what they are doing. – Andrew Carnegie
EURUSD
Trading strategy: standing aside
EUR/USD is little changes since yesterday morning as the shy attempt to recover was capped by 1.3385/00. Pressure is again high on the 1.3300 support as the pair feels heavy and the said support looks very fragile. As I noted yesterday, the rising trend line coming from 1.1875 through September’s bottom at 1.2650 is on the radar and a potential break down will fuel the bearish cycle – favoring further selling towards 1.300. Potential rallies from here to 1.3400 and 1.3450 are to be sold. Today’s economic calendar is lighter and the U.S. markets will close earlier. Current exchange rate is 1.3297 @06:38 GMT
Support: 1.3300, 1.3250 and 1.3200
Resistance: 1.3385/00, 1.3450/60, 1.3500 and 1.3600
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intraday – bearish
- EURUSD hourly forex chart 11-26-2010
More trading setups
EURCAD
- EURCAD daily forex chart 11-26-2010
GBPUSD
- GBPUSD 4hrs forex chart 11-26-2010
EURCHF
- EURCHF 4hrs forex chart 11-26-2010
AUDJPY
- AUDJPY 4hrs forex chart 11-26-2010
Have a great weekend
