EURUSD
Trading strategy: stand aside
The euro fell to a fresh ytd low following the Standard & Poor’s slashing both Portugal and Greece’s debt rating, spurring concerns about their sovereign debt. A minor correction is underway at the time of writing, trying to overcome 1.3200 – former support. In case of extended gains, 1.3280/00 should provide intra-day resistance, followed by 1.3340/50 and 1.3400. More corrective action is likely but downside pressure remains very high ahead of today’s FOMC Interest Rate Decision. Current exchange rate is 1.3187 @06:00 GMT
Support: 1.3150, 1.3100 and 1.3000
Resistance: 1.3200, 1.3280/00 and 1.3440
Market sentiment: long term – bullish, medium term – bearish, short term – bearish, intra-day – bearish
- EURUSD 4hrs chart 4-28-2010
GBPUSD
Trading strategy: standing aside
Support formed into the 1.5300 and 1.5340 zones have been breached yesterday as cable fell 240 points. Potential pullback would face resistance around former support 1.5300, followed by the 1.5360 – rising trend line started from last week’s 1.5190. Short-term sentiment turned slightly negative and next notable support levels are seen at 1.5140/50 and 1.5070/80. Current exchange rate is 1.5244 @06:00 GMT
Support: 1.5225, 1.5140/50 and 1.5070/80
Resistance: 1.5280/00, 1.5360, 1.5400 and 1.5500/20
Market sentiment: long term – bearish, medium term – bearish, short term – slightly bearish, intra-day – bearish
- GBPUSD 4hrs chart 4-28-2010
Have a good day!
Pingback: Tweets that mention EURUSD and GBPUSD daily outlook Wednesday 4-28-10 | Currency analysis and forex charts - innerfx.com -- Topsy.com
Pingback: Tweets that mention EURUSD and GBPUSD daily outlook Wednesday 4-28-10 | Currency analysis and forex charts - innerfx.com -- Topsy.com