EURUSD
Trading strategy: short at 1.2330, stop at 1.2390 (1% risk), objective at 1.2230
The euro pulled back from $1.2300 but maintains a bid tone – so far being supported into the 1.2200 region – backed by 1.2150 and 1.2100, lower. Short-term sentiment remains slightly bullish while trading above 1.2150 but extended gains above yesterday’s top would bring 1.2365 – the 61.8% of last down leg from 1.2670 to 1.1875 in focus. Intra-day studies are currently bearish but above 1.2240 they should turn positive. Selling into rallies or break downs could be the best bet since current recovery is most likely corrective. Current exchange rate is 1.2192 @06:20 GMT
Support: 1.2150, 1.2070/00, 1.2000 and 1.1960/80
Resistance: 1.2250/60, 1.2300 and 1.2350/65
Market sentiment: long term – bearish, medium term – bearish, short term – slightly bullish, intra-day – bearish
- EURUSD 4hrs chart 6-15-2010
Other setups:
GBPUSD – 1.4710
- GBPUSD 4hrs chart 6-15-2010
AUDUSD – .8542
- AUDUSD 4hrs chart 6-15-2010
EURJPY – 111.34
- EURJPY 4hrs chart 6-15-2010
Gold – 1222
- Gold daily chart 6-15-2010
Have a great day!
