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Quote of the day: There is only one thing makes a dream impossible: the fear of failure. — Paulo Coelho
EURUSD
Trading strategy: standing aside
The euro is weaker today after pulling back from 1.3250 but still holds above 1.3100 which is the first important support level to watch. Current pullback doesn’t affect the short-term sentiment but doesn’t seem to be over yet, so keep an eye on 1.3100. Intra-day resistance starts at 1.3190, followed by 1.3250. If 1.3190 caps the upside, then 1.3100, perhaps 1.2970/00 later, will be in focus. Today’s economic calendar is quite busy – most notable events being the Rate Decision in Europe and UK, followed by the ECB press conference and the US initial jobless claims later today. Downside should remain favored unless a break above 1.3200 occurs. Current exchange rate is 1.3161 @06:12 GMT
Support: 1.3100/20, 1.2970/00 and 1.2900
Resistance: 1.3190/00, 1.3250/90, 1.3400 and 1.3500
Market sentiment: long term – bearish, medium term – slightly bullish, short term – bullish, intra-day – bearish
- EURUSD 4hrs chart 8-5-2010
More trading setups
EURGBP
- EURGBP 4hrs chart 8-5-2010
AUDJPY
- AUDJPY 4hrs chart 8-5-2010
EURAUD
- EURAUD daily chart 8-5-2010
AUDCAD
- AUDCAD 4hrs chart 8-5-2010
USDCAD
- USDCAD daily chart 8-5-2010
EURCHF
- EURCHF daily chart 8-5-2010
Have a good day and happy trading!
AudCad previous support/resistance (daily) near 9190 ..bounce up or defitnitely break down from here?
i think it will continue all the way to .9100
What do you think about USD/JPY?
I don't follow USDJPY too much as I'm more interested in other JPY pairs but what I can tell you is that I wouldn't buy it (short-term / medium-term perspective). Above 88 should look a bit bullish but that seems quite far, for now.