Quote of the day: “Soon, nostalgia will be another name for Europe.” – Angela Carter
EURUSD
Trading strategy: looking to sell a small size on pullback to 1.3260, stop at 1.3310, 1st objective at 1.3210, 2nd objective at 1.3100
Good morning. Euro’s inability to sustain rebounds continues to favor selling on minor pullbacks to the upside and former support, currently providing resistance at 1.3180, capped the upside in the last two days. But if we look at the daily chart, we can draw the conclusion that current decline is not that big, comparing to November – as the pair still trades above the monthly open (November’s low) and is down “only” 50 points Since Monday. See the bright side – it could have been worse! Immediate resistance is seen at 1.3180, followed by 1.3250 and 1.3300/30.On the down side, support starts at 1.3070/00, backed by 1.3000/30 and 1.2970. Most important event in the economic calendar today is the US GDP, at 13:30 GMT. Current exchange rate is 1.3144 @06:40 GMT
Support: 1.3070/00, 1.3000/30, 1.2970 and 1.2900
Resistance: 1.3180/00, 1.3300/30 and 1.3360
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intraday – slightly bullish
- EURUSD 4hrs chart 12-22-2010
More trading setups
EURGBP
- EURGBP 1d chart 12-22-2010
AUDUSD
- AUDUSD 1d chart 12-22-2010
USDCAD
- USDCAD 1d chart 12-22-2010
Have a nice day and good luck trading
