Quote of the day: An optimist is a person who starts a new diet on Thanksgiving Day. – Irv Kupcinet
- A Happy Thanksgiving to all American readers!
EURUSD
Trading strategy: standing aside
The market is quiet and will probably remain this way until next week, after the Thanksgiving holiday. Support at 1.3300 still holds but seems fragile and it is probably a matter of days until the round 1.300 will be tested. The rising trend line coming from 1.1875 through September’s bottom is very near, so keep an eye on it as a potential break below 1.3300 would violate the uptrend on medium term basis. The economic calendar is lighter today and tomorrow so if the market will be anemic and you look for some good trades – long turkeys / short fiat currencies is the way to go :-)
Support: 1.3300, 1.3250 and 1.3200
Resistance: 1.3400, 1.3450/60, 1.3500 and 1.3600
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intraday – bearish
- EURUSD daily forex chart 11-25-2010
EURGBP
- EURGBP daily forex chart 11-25-2010
Gold
- XAUUSD 4hrs chart 11-25-2010
Have a nice day
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