EURUSD
Trading strategy: standing aside
Downside is under pressure again as the euro failed to hold gains and penetrate higher, above 1.38. Important intra-day support comes at 1.3650, not far from current trading level. If it holds, next objective at 1.3550 might have a chance to stay intact for now. Short-term sentiment remains mixed while the pair continues to look for direction into a 250 points range. On the North side, resistance starts at 1.3730, followed by 1.3800/20 and 1.3850/60. Intra-day break above 1.3735 resumes uptrend. Current exchange rate is 1.3679 @06:50 GMT
Support: 1.3640/50, 1.3600/15 and 1.3550
Resistance: 1.3735, 1.3800/20, 1.3850/60 and 1.3900
Market sentiment: long term – bullish, medium term – bearish, short term – mixed, intra-day – bearish
- EURUSD 4hrs chart 3-18-2010
GBPUSD
Trading strategy: looking to buy dips on potential pullback to 1.5170, stop at 1.5110(0.5% risk), objective at 1.5290. Alternatively, will sell at 1.5430, stop at 1.5490(0.5% risk), objective at 1.5310
Cable rose to fresh highs yesterday, reaching a session top at 1.5380, breaking the resistance trend line connecting recent tops – now around 1.5270, providing support. Upside remains favored and the minor decline from 1.5380 seems corrective. Below 1.5270, sell-off may intensify as the channel structure would be again valid, but support may limit losses into the 1.5150 region. Current exchange rate is 1.5290 @06:50 GMT
Support: 1.5270, 1.5200 and 1.5150
Resistance: 1.5320, 1.5380 and 1.5420
Market sentiment: long term – bearish, medium term – bearish, short term – bullish, intra-day – bearish
- GBPUSD 4hrs chart 3-18-2010
Have a good day!
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What I still do not understand is why its keeping strong the Euro. It should have by now dropped below 1.34 range. The bad news in the Euro-Zone keeps on mounting up, the financial news in the US is good, but still the Euro is holding.
Even the fiasco with Greece reached a new high today, with germany opting to kick Greece out of the union. Which ofcourse never will happen but still it shows that the Euro-Zone is unstable. And Portugal and Spain are the next in line to sink the Euro-zone…. But it doesn't show—> Euro still standing strong.
doesn't look strong anymore… the happy two days near 1.38 are over. Interesting is how 1.3500 is intact. Goldman Sachs recommended to go long with stop below 1.3500 (daily close). They still have a change of being right, though… if the 1.34xx was dodged y few pips and next week will resume recovery.