fast short at channel
this is amazing review…very nice…
Thanks fxsrikanth! Always a pleasure to help out fellow traders!
It looks like EUR/USD just traded between support at 1.2900 and resistance at 1.2950 for the most part of the day.
Support: 1.28174; Resistance: 1.29395.
Bullish targets: 1.29700, 1.30310
Bearish targets: 1.27869, 1.27563.
Great stuff! Keep it up and many many thanks!!
Aims of bulls: 1.2939, 1.3000
Aims of bears: 1.2817, 1.2756
Resistance line: 1.2908
Support line: 1.2847
The euphoria on ECB bond buying and FED QE3 has faded after peaking at 1.3170. EURUSD is currently in a retracement mode.
On the daily chart, the momentum is to the upside.
•Price broken above the long term bearish channel
•A bullish reversal pattern is seen. There is an inverted head and shoulders pattern.
On the 4hr chart, a flag formation has formed. With the price doing a retracement since the high of 1.3170.
Based on the available information, i am looking to go long at either the 38.2% or 50.0% fibonacci retracement level.
Long near 1.2740 (38.2%)
If 38.2% fails to hold, re-enter at the 50.0% retracement level.
Long near 1.2600 (50.0% retracement.)
The combination of weaker-than-expected U.S. data and disappointing Spanish bank stress test results (7 out of 14 failed) took the pair lower. Did anyone catch the breakout to the downside?
Resistance line: 1.2893 Bullish aims: 1.2908, 1.2939
Support line: 1.2847 Bearish aims: 1.2832, 1.2817
There were no major economic releases yesterday yet the euro was able to find a reason to climb. From my research, it appears that the currency received a boost from Moody’s as the firm indicated that it was won’t downgrade Spain’s sovereign debt rating just yet.
The best trade of the day seems to be the buy signal at the Asian low/DO. Price had found support there twice, resistance there twice before it rallied to the 1.2950 MiP.
Resistance line:1.2939
Bullish targets:1.2954 1.2970
Support line: 1.2878
Bearish targets: 1.2863 1.2847
Not much action from the pair yesterday. But I have a feeling today will be different especially with the ECB rate decision on tap! Be careful, homies!
