Sep 18
Monday
Analysis and forecasts
Monday 09.18.2006
by Liviu
closeAuthor: Liviu
Name: Liviu Flesar
Site: http://www.innerfx.com
About: I am an independant currency trader providing currency market analysis mainly for two reasons:
1. to improve my discipline, keeping a clear track record of my own thoughts, analyzing both my good and bad expectations on market moves;
2. sharing my thoughts with other traders, hoping they may benefit from my opinions and experience.
I don't call myself a veteran or trading guru of some sort as there's a lot more I have to learn, a lot more I have to see and my 8 years experience into currency trading is not enough proof that I will be successful during the next 8 years.
I dare to believe that my articles are useful to many traders from around the world and I strive to improve in my attempt to become a better and more accurate writer.
innerfx.com is my own project, a blog about currency trading where I share my commentaries and market thoughts. The site has been launched to address the needs of other currency traders and also to keep a track record of my articles. I am not fully dedicated to currency trading because I want to diversify my knowledge, therefore I am involved in different areas.See Authors Posts (1400) on September 18, 2006 – 9:13 am GMT |
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EURUSD daily report, by Liviu Flesar
The dollar rose Vs the Euro on Friday, as the pair tested bids at 1.2630 where it established support then recovered slightly and reached the 1.2660 area where it is seen now. Resistance is formed by 1.2665 and that is being tested at the time of this writing, followed by 1.2680 and 1.2700, higher. The Euro recovery may continue, in case of a breach of 1.2665 we will look forward for tests around the 1.27 mark, later. Momentum is bullish on the hourly charts and slightly positive on the dailies. Current exchange rate is 1.2665.
Trading strategies:
Long in the 1.2660 area, stop/reverse below 1.2630, objectives at and above 1.2700.
Warning: Forex Trading involves significant risk of loss and is not suitable for everyone (full Disclaimer)
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