Quote of the day: The best way to keep loyalty in a man’s heart is to keep money in his purse. – Irish proverb
EURUSD
Trading strategy: looking to buy at 1.3700, stop at 1.3630, 1st objective at 1.3750, 2nd objective at 1.3850
The euro rose across the board after Ireland, IMF and the EU have agreed a financial rescue package; therefore Ireland becoming the 2nd European nation in 6 months to require a multi-billion-dollar financial rescue. Former support at 1.3750 is under pressure as the euro rallied from 1.3690 where it closed on Friday – and a potential break out should open the door for more gains towards 1.3870/00 which is the next technical objective, followed by 1.3960-1.400. Although the 4-hrs charts are looking bullish – the dailies are still in a bearish stance as long as the currency pair trades below 1.400. On near-term basis – more upside action is likely, as the market seems to welcome the Ireland rescue news. Current exchange rate is 1.3750 @06:50 GMT
Support: 1.3700, 1.3600, 1.3550/70 and 1.3500
Resistance: 1.3750/70, 1.3800, 1.3900 and 1.3960
Market sentiment: long term – mixed, medium term – bullish, short term – mixed, intraday – bullish
- EURUSD 4hrs forex chart 11-22-2010
More trading setups
GBPUSD
- GBPUSD 4hrs forex chart 11-22-2010
AUDJPY
- AUDJPY 4hrs forex chart 11-22-2010
EURJPY
- EURJPY daily forex chart11-22-2010
EURCHF
- EURCHF 4hrs forex chart 11-22-2010
Have a nice week
