Quote of the day: The inability to anticipate changes in supply and demand for a currency is at the root of the statistically robust finding that forecasting exchange rates has a success rate no better than that of forecasting the outcome of a coin toss. – Alan Greenspan
EURUSD
Trading strategy: long at 1.3950 on potential pullback, stop at 1.3880(0.5% risk), 1st objective at 1.400, 2nd objective at 1.4100
The euro continues Friday’s recovery, extending gains above $1.3950 to as high as $1.4010 at time of writing. The dollar is weaker across the board on speculation the Fed will take more credit-easing measures amid signs of a stagnant economic recovery. Next resistance region is set around 1.4050 followed by 1.4150/60. More upside action is favored ahead of Wednesday’s FOMC meeting and a sustained break above last 4-week range should open $1.43 and even last year’s top side around 1.5. In case of intra-day pullbacks, support at 1.3900 should hold so that the euro will maintain current bullish state. Today’s most important event in the economic calendar is the ISM manufacturer Index at 15 GMT. Current exchange rate is 1.3995 @06:33 GMT
Support: 1.3950, 1.3900 and 1.3800
Resistance: 1.400, 1.4050 and 1.4150/60
Market sentiment: long term – mixed, medium term – bullish, short term – bullish, intra-day – bullish
- EURUSD 4hrs chart 11-1-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 11-1-2010
USDJPY
- USDJPY hourly chart 11-1-2010
AUDUSD
- AUDUSD 4hrs chart 11-1-2010
Have a nice day
on USDJPY
http://www.forexlive.com/143252/all/algo-blamed-f…
whatever the reason that was not funny :(
were you caught short when it happened?
yes, but fortunately i got tight stop loss
eurusd if 1.3866 possible move to 1.3796?
get set for another crash?
it follows gold, which will probably re-test 1345 soon
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Liviu, which city do you live in?
Bucharest.
You?