Quote of the day: Failure is the condiment that gives success its flavor — Truman Capote
EURUSD
Trading strategy: small long at 1.3675, stop at 1.3615 (0.5% risk), objective at 1.3785
A break above 1.3680/90 – the trend line resistance extended from 1.3840 – shows up. Some resistance layers are seen above current trading zone – around 1.3730, then higher at 1.3790/00 and perhaps a stronger barrier around 1.3850. For the time being, short-term sentiment turned bullish and if the euro will maintain current bid tone, holding above 1.3650-1.3680, it should build upward momentum – resulting in a weekly bullish candle – the first of its kind in the last 2 months. On the lower side, if price will pull back from current session highs – important support to watch is located around 1.3585 and 1.3550. Current exchange rate is 1.3704 @07:00 GMT
Support: 1.3680/90, 1.3650, 1.3585/00, 1.3550, 1.3490/00 and 1.3440/50
Resistance: 1.3735/50, 1.3790/00 and 1.3840/60
Market sentiment: long term – bullish, medium term – bearish, short term – slightly bullish, intra-day – bullish
- EURUSD 4hrs chart 3-12-2010
NZDUSD
Trading strategy: standing aside
The median retracement of the .6850-.7095 move at .6970 provided support on last pullback and the kiwi dollar is currently recovering some ground. However, solid resistance comes around .7060 followed by .7095 and the pinbar formed on Wednesday(daily charts) could suggest some intense selling around .7060. Intra-day sentiment is bullish, the short-term structure being bullish, too. Upside remains favored but one should be cautious into the .7060-.7095 top side, if we get there. Current exchange rate is .7006 @07:00 GMT
Support: .6970, .6940/50, .6900/15, .6850 and .6800
Resistance: .7060, .6990/00, .7130/50 and .7200
Market sentiment: long term – bullish, medium term – slightly bearish, short term – slightly bullish, intra-day – bullish
- NZDUSD daily chart 3-12-2010
AUDJPY
Trading strategy: long at 83.40 on hourly break of 83.30(on hourly candle closed above 83.30), stop at 82.80(1% risk), objective at 84.20
Yesterday’s retreat after prolonged hesitation against 83.00 has been short lived and the Aussie dollar is again testing recent highs while writing these lines. Bullish momentum is formed on both intra-day and short-term charts, upside being favored while 82.30 limits losses on pullbacks. 84.00/25 is in the cards, if 83.30 breaks. Current exchange rate is 83.09 @07:00 GMT
- AUDJPY daily chart 3-12-2010
Have a great day and a nice weekend!
I like AUDYPJ analisys. Maybe that will be my only trade today since everything else is sloe and with a lot of mixed signals. EURUSD is totally mixed. I like it to go long.
i am long AUDJPY currently, entered at 83.00, will add to it higher if it goes up
I was on the wrong side, Short….. And I payed for it… Ahh you win some and you lose some… good call Liviu