EURUSD
Trading strategy: small long at 1.2750, stop at 1.2680 (0.5% risk), objective at 1.2850
Euro’s minor recovery continues after testing support around 1.2660 yesterday. However, upside was capped at 1.2760. Upside is slightly favored at the time of writing but short-term bias remains bearish as long as 1.2900 is still “far” from current trading levels. Today’s key events in the economic calendarare the U.S. GDP data release and Bernanke’s speech. Buying on the break higher could be a good idea. Current exchange rate is 1.2721 @04:40 GMT
Support: 1.2650, 1.2600, 1.2500 and 1.2430/50
Resistance: 1.2750/70, 1.2850 and 1.2900/20
Market sentiment: long term – bearish, medium term – slightly bullish, short term – bearish, intra-day – bullish
- EURUSD 4hrs chart 8-27-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 8-27-2010
USDCAD
- USDCAD daily chart 8-27-2010
EURJPY
- EURJPY 4hrs chart 8-27-2010
Have a great day!
