Quote of the day: If you want to have a better performance than the crowd, you must do things differently from the crowd. — Sir John Templeton
EURUSD
Trading strategy: standing aside
The euro pulled back once again after testing 1.3 but the upside remains favored, although current slide may extend lower towards 1.2770 where the euro will probably find a decent support and probably provide a good buying opportunity. Intra-day sentiment is bearish as yesterday’s recovery from 1.2850 went out of steam around 1.2920. Hourly studies will remain in a bearish configuration as long as the pair trades below 1.2920. Except for Bernanke’s testimony at 15:00 GMT, today’s economic calendar is pretty light. Current exchange rate is 1.2892 @06:03 GMT
Support: 1.2830/50, 1.2770/00 and 1.2700
Resistance: 1.2920, 1.3000/25, 1.3100 and 1.3250
Market sentiment: long term – bearish, medium term – slightly bearish, short term – bullish, intra-day – bearish
- EURUSD 4hrs chart 7-21-2010
More trading setups
EURAUD
- EURAUD 4hrs chart 7-21-2010
CADJPY
- CADJPY daily chart 7-21-2010
AUDJPY
- AUDJPY 4hrs chart 7-21-2010
AUDUSD
- AUDUSD daily chart 7-21-2010
Have a great day!
