Quote of the day: The trees that are slow to grow bear the best fruit. – Moliere
EURUSD
Trading strategy: long at 1.3680, stop at 1.3620 (0.5% risk), 1st objective at 1.3730, 2nd objective at 1.3800. Other plan would be to look for buying opportunities on pullback to 1.3550, stop at 1.3480 (0.5% risk), 1st objective at 1.3600, 2nd objective at 1.3660.
Upside is still under pressure although yesterday’s trading was mixed. Downside attempts are short-lived since two weeks ago as the dollar is heavily sold against its major counterparts. As mentioned in my yesterday’s article – I am still expecting a correction but, so far, there are no signs to point downwards. In case of minor pullbacks – such as yesterday’s two tests of 1.3550/70 – look for support around the same levels. A lower barrier comes at 1.3500 – unless we see a daily close below the said level, current sentiment will remain unchanged and the best strategies will be to buy on dips and/or violent breakouts. Current exchange rate is 1.3648 @06:52 GMT
Support: 1.3550/70, 1.3500/10, 1.3400/20 and 1.3285/00
Resistance: 1.3680/00, 1.3800 and 1.3900
Market sentiment: long term – bearish, medium term – bullish, short term – bullish, intra-day – neutral
- EURUSD hourly chart 01-10-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 10-1-2010
EURCHF
- EURCHF 4hrs chart 10-1-2010
AUDJPY
- AUDJPY 4hrs chart 10-1-2010
Have a great day and good luck trading!
i wonder why Brazil's Central was purchasing dollars during last days, weeks?
look at this. http://oeis.org/classic/table?a=45&fmt=4“>.http://oeis.org/classic/table?a=45&fmt=4
put these numbers on EURUSD chart (use combinations…and your imagination..)
interesting…