Euro rallies to 1.330 and Gold approaches 1300

Quote of the day: Continuous effort, not strength or intelligence, is the key to unlocking our potential. — Winston Churchill

EURUSD

Trading strategy: long at 1.3200, stop at 1.3170(0.5% risk), 1st objective at 1.3250, 2nd objective at 1.3330

The greenback fell against its major counterparts after Fed said yesterday that it “will provide additional accommodation if needed” as the recovery and job growth have slowed – damping demand for U.S. assets, but increasing demand for Gold – which rallied to record highs above 1290, where it is conserving gains at time of writing. The euro gained over 200 pips, breaking above interim barrier at 1.3150, aiming last month’s top at 1.3330. As mentioned in my yesterday’s article – I remain bullish on euro unless weakness to 1.2900 arise. Therefore, buying on break higher – like yesterday – or on dips to former resistance regions, such as 1.3150, seem good plans for now. Current exchange rate is 1.3293 @05:45 GMT.

EURUSD 4hrs chart 9-22-2010
EURUSD 4hrs chart 9-22-2010

More trading setups

GBPUSD

GBPUSD 4hrs chart 9-22-2010
GBPUSD 4hrs chart 9-22-2010

AUDJPY

AUDJPY daily chart 9-22-2010
AUDJPY daily chart 9-22-2010

EURCHF

EURCHF daily chart 9-22-2010
EURCHF daily chart 9-22-2010

Gold

Gold 4hrs chart 9-22-2010
Gold 4hrs chart 9-22-2010

Have a great day and happy trading!

2 thoughts on “Euro rallies to 1.330 and Gold approaches 1300

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