Quote of the day: “The more alternatives, the more difficult the choice.” - Abbe’ D’Allanival
EURUSD – 1.3711 @08:13 GMT
Good morning. 1.3750 is still intact on the daily charts as price pulled back earlier today as German GDP came at 0.40% as widely expected. However, uptrend is intact and resistance at 1.3750 followed by 1.3860 remain in focus as long as 1.3600-1.3650 support zone is not threatened. I opened a long position at 1.3760 – on the 4hrs close above 1.3750 and I still have the position open although it doesn’t look too good at time of writing. Today’s important events in the Forex Calendar: Durable Goods and Initial Jobless Claims at 13:30 GMT, followed by New Home Sales at 15:00 GMT.
Trading strategy: holding long at 1.3760 with initial stop at 1.3690 (0.5% risk), 1st objective at 1.3820, 2nd at 1.3900
Support: 1.3700, 1.3650, 1.3550/80 and 1.3500
Resistance: 1.3750/80, 1.3800/20, 1.3860 and 1.3900
Market sentiment: long term – mixed, medium term – bullish, short term – bullish, intraday – bearish
- EURUSD 4hrs chart 2-24-2011
have a great day!
looking better now ;)
I suppose they will do major move for today just after the jobless claims. Then they will attack 1.4820 or fall down. Typical scenario.
I mean 1.3820 sorry for mistake
I'm still looking for a daily close above 1.3750. A weekly close will be even more important, so tomorrow will be interesting
So just now first target met
yeah, not a bad trade. I still have some other trades open – one since monday (here: http://www.innerfx.com/analysis-and-forecasts/mon…
I closed a portion earlier today but will see what I can do with the rest of it. Reversing is not an option right now – so I either hold or close if I freak out. ^_^