Quote of the day: The best way to appreciate your job is to imagine yourself without one. – Oscar Wilde
EURUSD
Trading strategy: long at 1.4160 on potential pullback, stop at 1.4090 (0.5% risk), 1st objective at 1.4210, 2nd objective at 1.4260
Another resistance point has been breached yesterday as the euro rallied past 1.4150/60 to as high as $1.4280 before pulling back 1 big figure, to 1.4185 at time of writing. Intra-day sentiment is bearish and current pullback will probably continue, bringing former resistance lines in focus. However, change in short-term’s sentiment is unlikely as I doubt the dollar will strengthen near $1.400 or below. Since today is the first Friday this month, the key data release in the economic calendar is the NFP, followed by Bernanke’s speech. Current exchange rate is 1.4205 @06:43 GMT
Support: 1.4150/60, 1.4100, 1.4050, 1.3990/00 and 1.3900
Resistance: 1.4250, 1.4280/00 and 1.4400
Market sentiment: long term – mixed, medium term – bullish, short term – bullish, intra-day – bearish
- EURUSD 4hrs chart 11-5-2010
More trading setups
Gold
- XAUUSD 4hrs chart 11-5-2010
GBPUSD
- GBPUSD 4hrs chart 11-5-2010
AUDJPY
- AUDJPY 4hrs chart 11-5-2010
CADJPY
- CADJPY 4hrs chart 11-5-2010
Have a nice weekend!
hi. will you participate? http://www.alpari.co.uk/en/traders_contest/index….
hi
hmm most likely not. But, maybe for fun, to open two insanely leveraged positions and leave them open and never check back until the contest ends (casino style / all in) :)
leverage is limited