Quote of the day: He that can have patience can have what he will. — Benjamin Franklin
EURUSD
Trading strategy: stand aside
Still trading in a narrow range but holding up above the 1.3600 mark, below yesterday’s top at 1.3655 – 61.8% of last down leg from 1.3790 to 1.3445. Break above the intra-day resistance at 1.3655 would favor further gains, opening the 1.3750/90 region which servers as a main objective if current recovery doesn’t run out of steam within the coming sessions. On the lower side, a pullback should face intra-day support into the 1.3550/75 zone, backed by 1.35. Hourly sentiment remains bullish for now while the short-term studies are bearish as long as 1.3850/60 does not come under pressure. Current exchange rate is 1.3627 @07:00 GMT
Support: 1.3600, 1.3550/75, 1.3500 and 1.3445
Resistance: 1.3650/60, 1.3700, 1.3760/70 and 1.3840/60
Market sentiment: long term – bullish, medium term – bearish, short term – bearish, intra-day – bullish
- EURUSD 4hrs chart 2-23-2010
NZDUSD
Trading strategy: stand aside
The NZ dollar is unchanged Vs. the US dollar since yesterday and is consolidating recent gains into the lower half of the .7000 region. Minor resistance comes around .7045/50 – formed by the downward trendline from .7150 of February 3, through last week’s top around .7080. Above the said barrier, next notable bullish objective is set by the .7150 – monthly high. Short-term sentiment is slightly bullish but a confirmation, such as breaking above .7150, would add more fuel to the ongoing recovery. Current exchange rate is .7016 @07:00 GMT
Support: .6980/00, .6950 and .6900
Resistance: .7050/75, .7100 and .7150
Market sentiment: long term – bullish, medium term – slightly bearish, short term – slightly bullish, intra-day – slightly bullish
- NZDUSD 4hrs chart 2-23-2010
Have a great day!
