Quote of the day: When a man tells you that he got rich through hard work, ask him: ‘Whose?’ — Don Marquis
EURUSD
Trading strategy: long at 1.3400, stop at 1.3330(0.5% risk), 1st objective at 1.3450, 2nd objective at 1.3550
It’s Monday again and the euro starts the week by conserving recent gains against the dollar, not far below $1.35. Recent pullbacks were very modest – of about 120 points, and no signs of weakness are being seen yet. In case of retracing lower, intra-day support can be found at 1.3400/10 and lower, around 1.3300. Short-term support stands at 1.3150 and 1.2900 but I doubt we’ll see those levels in the coming days. Today’s economic calendar is lighter – main event being Trichet’s speech this morning. Looking to buy dips or on break higher, like Friday, are probably the best strategies for now. Current exchange rate is 1.3470 @05:45 GMT
Support: 1.3400/10, 1.3285/00, 1.3230 and 1.3185/00
Resistance: 1.3500/10, 1.3600 and 1.3700
Market sentiment: long term – bearish, medium term – bullish, short term – bullish, intra-day – bullish
- EURUSD hourly chart 9-27-2010
More trading setups
AUDUSD
- AUDUSD hourly chart 9-27-2010
EURCHF
- EURCHF 4hrs chart 9-27-2010
Have a great day!
