Sep 18
Friday
Analysis and forecasts
US session update on EURUSD 09-18-09
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 (1403) on September 18, 2009 – 12:30 pm GMT |
1 Comment |
EURUSD
Trading strategy: stand aside
The euro retraced to 1.4650 earlier today, closing below the trend line support mentioned on the morning’s report and seen on the chart attached below. Intra-day sentiment is slightly bullish due to current recovery back above 1.4700 but bias still points to the downside as long as 1.4730 will provide resistance. Closing above 1.4730 will resume uptrend but today’s action is not expected to be spectacular, therefore 1.4800 is expected to limit the upside if reached. Current exchange rate is 1.4705 @12:35 GMT
Support: 1.4650, 1.4600, 1.4550 and 1.4500
Resistance: 1.4730, 1.4750/65 and 1.4800

- EURUSD 4hrs 09-18-09
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