Hello. This is a very quick post because I’m short of time – travelling today. However, in case you missed it – yesterday I posted a very interesting interview, so please check it and post your feedback.
EURUSD – 1.3560 @07:10 GMT
Trading strategy: looking to sell at 1.3600, stop at 1.3660 (0.5% risk), 1st objective at 1.3540, 2nd objective at 1.3500
The euro shows clear weakness signs on both hourly and 4hrs charts and this week’s bottom at 1.3510 is on the radar screen. The trend is losing strength on the daily charts too as last recovery attempt failed and resistance at 1.3750 was a good selling point. As long as 1.3700/50 doesn’t come under pressure, I prefer to look for selling opportunities either on pullbacks towards 1.3600-1.3650 or on break below 1.3510/30.
Support: 1.3530, 1.3500/10 and 1.3430/50
Resistance: 1.3600, 1.3650, 1.3700 and 1.3730/50
Market sentiment: long term – mixed, medium term – bullish, short term – mixed, intraday – bearish
- EURUSD 4hrs chart 2-11-2011
Have a great day and good luck trading!
