EURUSD
Trading strategy: stand aside
Yesterday’s recovery continued through today’s Asian session and 1.3600 is under pressure at the time of writing this article. My yesterday’s small short at 1.3560 was triggered and is still in play. Short-term sentiment remains unchanged as there’s enough room to the upside up to 1.3850/60, where a sustained break would confirm a trend change. On intra-day basis, the bias is to the upside for now but we’ll see if the EUR will manage to hold its gains. Support starts at 1.3570, backed by 1.3530, 1.3500 and 1.3450. On the North side, immediate resistance comes around 1.3620 (trend line starting from 1.4025 of February 3′rd). This week’s top at 1.3690/00 provides the next technical resistance, followed by 1.3780 higher. Current exchange rate is 1.3575 @07:00 GMT
Support: 1.3570, 1.3530, 1.3500 and 1.3445/50
Resistance: 1.3600/25, 1.3690/00, 1.3780 and 1.3850/60
Market sentiment: long term – bullish, medium term – bearish, short term – bearish, intra-day – bullish
- EURUSD 4hrs chart 2-26-2010
NZDUSD
Trading strategy: stand aside
Former bottom around .6950 is being challenged as the kiwi dollar recovered some of its recent losses. On a short-term basis, the downward channel started in October is valid and the pair is not far from the lower channel’s band, which is seen around .6760. Momentum remains bearish while below recent top at .7080 and the hourly charts are currently bullish, as long as .6900 holds. Current exchange rate is .6937 @07:00 GMT
Support: .6900, .6850, .6800/20 and .6770/00
Resistance: .6950, .6990/00, .7050/75, .7100 and .7150
Market sentiment: long term – bullish, medium term – slightly bearish, short term – bearish, intra-day – bullish
- NZDUSD daily chart 2-26-2010
- NZDUSD 4hrs chart 2-26-2010
Have a great weekend!
