EURUSD
Trading strategy: small long at 1.2410, stop at 1.2340 (0.5% risk), 1st objective at 1.2460, 2nd objective at 1.2510
Euro’s attempt to break past 1.2600 on Friday was short-lived but upside pressure remains high as the euro is conserving momentum above the 1.2500 handle – formerly providing resistance. Short-term sentiment is bullish and will remain intact as long as dips won’t extend below 1.2200 – level which is quite safe for now. Interim support levels are seen at 1.2500, backed by 1.2465 and 1.2400. Intra-day studies are in a slightly bullish configuration but pullback below 1.2500/20 would favor further losses, aiming towards the 1.2400 support. Current exchange rate is 1.2540 @06:00 GMT
Support: 1.2500/20, 1.2465, 1.2400, 1.2350 and 1.2200
Resistance:1.2600, 1.2660 and 1.2700
Market sentiment: long term – bearish, medium term – bearish, short term – bullish, intra-day – slightly bullish
- EURUSD 4hrs chart 7-5-2010
Other setups
GBPUSD
- GBPUSD 4hrs chart 7-5-2010
EURGBP
- EURGBP 4hrs chart 7-5-2010
EURJPY
- EURJPY 4hrs chart 7-5-2010
Have a great day!
Hi. Do u think we already changed trend in EURUSD to bullish?
Hi. Yes but only on a short-term basis – cycles in days-weeks interval. Medium term is still bearish and can change if the EUR goes above 1.3.