Quote of the day: “Everything that irritates us about others can lead us to an understanding of ourselves.” – Carl Jung
EURUSD – 1.4404 @07:05 GMT
Good morning. Last week’s top side is in focus now that the EUR managed to recover most of its recent losses, so keep an eye on 1.4450/75 if it gets there. Daily charts are still bearish as long as 1.4500 is intact but hourly and 4-hrs charts are bullish, so if you look for intraday trade opportunities, I guess buying is the way to go but I can’t say the same about short-term swings yet. The FOMC Statement and Bernanke’s Speech are the most important events in the Forex Calendar today.
Trading strategy: looking to sell at 1.4500, initial stop at 1.4560 (0.5% risk), target open
Support: 1.4400, 1.4360, 1.4200, 1.4100, 1.4070, 1.4000/20 and 1.3900
Resistance: 1.4450/75, 1.4500 and 1.4600
Market sentiment: long term – mixed, medium term – bullish, short term – bearish, intraday – bullish
- EURUSD 4hrs chart 6-22-2011
Some interesting setups worth watching:
EURCHF
- EURCHF 4hrs chart 6-22-2011
USDCAD
- USDCAD daily chart 6-22-2011
AUDJPY
- AUDJPY daily chart 6-22-2011
What other setups are you currently watching?
Cheers, have a nice day!
Thanks. Excellent adding more pairs. It would be good if you add more technical anaysis on daily report. Good job.
feedback is appreciated. I plan to include more pairs on a regular basis, not only the EURUSD.
If readers are interested in this, of course.
Thanks Liviu! your daily analyses help me to develop my own, so really thanks. Last week wasn‘t good for me, so I decided to sell eurusd somewhere around 1.452 near bearish trend line resistance on w1 chart. I think that small investors will pull it now higher, maybe because of ecb int. rate decision next month. what do you think of this?
glad it helps, selling at 1.452 sounds awesome. Are you still holding it?
I guess that the upcoming rate hike is one of the few things to support the EUR against USD right now. We're still comparing bad apples but all the problems in Greece, fears and media hype are making the rate hike quite meaningless (from a bull's perspective).
I wish you good luck with the short if you're still in
At the moment I am holder of pending order :-) Taking in consideration current situation in technical analyse and Elliot wave analyse, there are two possible scenarios – long or short :D
Ok, so if I consider wave from 1.4 to 1.4735 to be the AB wave, the wave 1-2 inside the C wave would lie on 61.8 Fibo (around 1.45) and then I would make nice short nearby the mentioned bearish trend line resistance and wait until it reaches the hell at the bottom :-).
So far, eurodollar is too vulnerable for me, so I stand it aside. Maybe I will take on some trade based on your analyse :-)
well, if you find EW counting good for your trading decisions then stick to it.
Personally I think EW is useless and too subjective on the long run, and now in this whole Euro-zone mess we really don't need any fancy stuff to see that it's best to sell EURUSD on fading rallies or breakdowns..
but again, that's me… same things always work different for different people :)
Cheers!