Quote of the day: “Everything happens to everybody sooner or later if there is time enough.” – George Bernard Shaw
EURUSD
Trading strategy: looking to sell on pullback to 1.3370, stop at 1.3420, 1st objective at 1.3320, 2nd objective at 1.3180
The dollar is up today against its counterparts after the Fed left interest rates unchanged, as widely expected, and maintained a $600 billion program of debt purchasing. The US retail sales rose more than expected last month, thus favoring dollar’s appreciation across the board. Although the 1.3440 resistance was broken on hourly charts (but not on the daily), the euro failed to hold gains and is back near $1.33 at time of writing. On the daily charts, yesterday’s candle suggests downtrend resumption – first support coming around 1.3240, formed by the rising trend line connecting the previous 2 higher lows. Second support is seen around 1.3180 which was a stable bottom last week. Core CPI is the most important event in today’s economic calendar. Current exchange rate is 1.3305 @06:40 GMT
Support: 1.3300, 1.3180/00, 1.3100/25 and 1.2980/00
Resistance: 1.3400, 1.3440, 1.3500 and 1.3600
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intraday – bearish
- EURUSD 4hrs chart 12-15-2010
- EURUSD 1d chart 12-15-2010
More trading setups
USDJPY
- USDJPY 1d chart 12-15-2010
AUDUSD
- AUDUSD 4hrs chart 12-15-2010
Gold
- Gold 4hrs chart 12-15-2010
Have a nice day and good luck trading
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