Quote of the day: The pure and simple truth is rarely pure and never simple. — Oscar Wilde
EURUSD
Trading strategy: long at 1.2930, stop at 1.2860 (0.5% risk), 1st objective at 1.2970, 2nd objective at 1.3080
The euro is consolidating into a tight range around 1.2990 – upside being capped by 1.3030. Upside is favored and the pair will probably stay above 1.2900 within the next trading sessions, maintaining the short-term studies in a bullish configuration. In case of pullback, look for support to emerge within the 1.2900-1.2930 region – but a break lower should negate the bullish scenario, reopening 1.2800 – perhaps even 1.2700. Current pullback is also caused by the NZDUSD which is losing ground due to NZ’s central bank saying that further interest-rate increases are likely to be “more moderate” than earlier projected. Today’s most important events in the economic calendar: SNB’s Interest Rate Decision and the Initial Jobless Claims in the U.S., later today. Current exchange rate is 1.2987 @05:45 GMT
Support: 1.2900/30, 1.2850, 1.2800, 1.2750 and 1.2660/70
Resistance: 1.3030/50, 1.3100 and 1.3200
Market sentiment: long term – bearish, medium term – slightly bullish, short term – bullish, intra-day – neutral
- EURUSD 4hrs chart 9-16-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 9-16-2010
NZDUSD
- NZDUSD daily chart 9-16-2010
AUDUSD
- AUDUSD 4hrs chart 9-16-2010
AUDJPY
- AUDJPY 4hrs chart 9-16-2010
Have a good day!
eurusd u mean 1st obj 12970 (its monthly pivot) .. im not sure if eurusd could pullback to 1.2930 (under monthly pivot).. if break up, possible targets previous month high (1.33)?
thanks for pointing it out. Yes, I meant 1.2970 but it was a typo – I inserted a "3" when my cat was trying to take over the keyboard :)
1.32 and 1.33 are achievable. I'm happy with the CHF – currently long EURCHF and EURUSD (since yesterday).
wow nice trade in eurchf ( tgt 1.3387 monthly pivot?)
missed it … :) could bank only 70p in USDCHF…
i closed both for 100 & some pips each.
Still having a long EURUSD since 2 days ago from 1.2975, won't close it unless it gets back below 1.30
highly predictable bounce off monthly pivot for eurchf…for easy hundred pips… now good opportunity to enter again long ? let s see…
I am tempted to go long but this pair is one which I HOPE it will switch course and recover. "hoping" not good in trading.