Quote of the day: Recession is when a neighbor loses his job. Depression is when you lose yours. – Ronald Reagan
EURUSD
Trading strategy: short at 1.3910, stop at 1.3960(0.5% risk), 1st objective at 1.3860, 2nd objective at 1.3780
The euro recovered some ground in Asian session as the support zone formed by the last weeks’ bottoms provided a stable support so far. The pair is back where it was 24 hours ago and, unlike yesterday, the intra-day sentiment is slightly bullish now. In recent weeks we seen that the euro is able to recover quite fast, but I doubt we’ll see the recent top side around 1.400 under pressure until next week. Meanwhile, current range will probably remain intact and there will be trading opportunities in both sides – downside being slightly favored as long as price doesn’t overcome 1.39. Above 1.39, bulls will be back in business. Today’s economic calendar events to affect EUR/USD are Trichet’s speech and U.S. Initial Jobless Claims data release. Current exchange rate is 1.3824 @05:52 GMT
Support: 1.3800, 1.3700, 1.3650 and 1.3600
Resistance: 1.3900, 1.3970, 1.400, 1.4050 and 1.4150/60
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intra-day – bullish
- EURUSD 4hrs chart 10-28-2010
More trading setups
GBPUSD
- GBPUSD 4hrs chart 10-28-2010
EURCHF
- EURCHF 4hrs chart 10-28-2010
USDCHF
- USDCHF 4hrs chart 10-28-2010
AUDUSD
- AUDUSD 4hrs chart 10-28-2010
Gold
- Gold 4hrs chart 10-28-2010
Have a nice day
