Quote of the day: Democracy is being allowed to vote for the candidate you dislike least. — Robert Byrne
EURUSD
Trading strategy: small short at 1.2850, stop at 1.2910(0.5% risk), 1st objective at 1.2800, 2nd objective at 1.2750
The euro changed direction, revisiting the downside near support at 1.2770 after an industry group said Germany’s 10 largest lenders may need fresh capital to meet new regulations. Breaking above 1.2900 was needed to confirm the short-term uptrend but that scenario is on hold for now. While the pair trades into this region, we should keep an eye on support into the 1.2750/70 region. Upside is still slightly favored while we don’t see a daily close below 1.2750/70. Current exchange rate is 1.2793 @05:37 GMT
Support: 1.2750/80, 1.2650 and 1.2600
Resistance: 1.2850, 1.2900/20, 1.3000 and 1.3100
Market sentiment: long term – bearish, medium term – slightly bullish, short term – slightly bearish, intra-day – bearish
- EURUSD 4hrs chart 9-7-2010
More trading setups
GBPUSD
- GBPUSD daily chart 9-7-2010
EURCHF
- EURCHF 4hrs chart 9-7-2010
EURJPY
- EURJPY 4hrs chart 9-7-2010
AUDCAD
- AUDCAD 4hrs chart 9-7-2010
Have a great day!
