EURUSD
The recovery from 1.4220 session low today has brought yesterday’s top side on focus as the elevated resistance levels of the 1.42 region at 1.4280/00 have been cleared away. My long position from @1.4210 has been finally closed as planned, at 1.4290, for 80 pips profit and the trade itself is a good example of how important patience is: once a thing goes your way, you need patience to achieve the best/expected result – while going the opposite way, you need the courage/strength to stop it from going even more against you. The 1.4400 resistance will probably limit current gains but tomorrow is a new day and we will look for some potential support on minor pullbacks – if uptrend will remain intact. 1.4300-1.4340 will probably provide support on pullbacks for now. Current exchange rate is 1.4375 @18:45 GMT
Support: 1.4340/50, 1.4300 and 1.4230/50
Resistance: 1.4400, 1.4440/50 and 1.4500
- EURUSD 4 hrs 8-27-2009
Have a great evening/night!
