EURUSD
Trading strategy: small short at 1.3030, stop at 1.3090 (0.5% risk), objective at 1.2930
Euro’s decline accelerated after breaking below 1.3100 and 1.3000 yesterday, printing a session low at 1.2830 – which was 350 points down from the daily open. Dollar’s appreciation across the board comes after the Fed said that the U.S. economic growth slowed – hence the sell off in most risk sensitive pairs especially against the Yen. Short term sentiment has weaken but it is early to call a resume of downtrend, so we should keep an eye on the 1.3000 level which may provide resistance now. On the downside, next support region starts around 1.2730, backed by 1.2600. Current exchange rate is 1.2910 @06:03 GMT
Support: 1.2800/30, 1.2730, 1.2600 and 1.2500
Resistance: 1.3000, 1.3100 and 1.3250
Market sentiment: long term – bearish, medium term – slightly bullish, short term – slightly bearish, intra-day – bearish
- EURUSD 4hrs chart 8-12-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 8-12-2010
USDJPY
- USDJPY daily chart 8-12-2010
EURAUD
- EURAUD 4hrs chart 8-12-2010
AUDUSD
- AUDUSD 4hrs chart 8-12-2010
Have a good day and happy trading!
You are awesome.. i have been reading your analysis for 2 weeks now and i must accept that you have a wonderful insight…
Great job… :)
Thanks :)
Today is looking rough. :)
yeah, but no surprise. Equities sold off again.
Thanks Mr Ben!
What a turn around. Damn your research is great. I lost all this morning but let it sit and it bounce back like you won't believe.
i know how it feels! When the EU session started it seemed so tempting to buy something against the Yen so I did. Entered long EURJPY, it went to almost 100 pips profit fast, I've set my stop at breakeven and in the very next 30 minutes it collapsed and I was out. I bought it again when the S&P500 started to recover and gold rallied, also went long a small size on EURUSD and now I have both positions around the same levels where it been in the morning (around 70 pips). I won't close yet because I feel there's more room to the upside.
Gold looks very tempting to buy as there's a breakout above 1215 under way