EURUSD
Trading strategy: small short at 1.4330, stop at 1.4380 (0.5% risk), 1st objective at 1.4280, 2nd objective at 1.4230
The euro dropped below $1.4260 yesterday, reaching a fresh 3 months low at 1.4220 – now far from the 200 days SMA coming around 1.4195. In case of extended weakness against the dollar, a potential bottom may form at 1.6200 – if the 200 days SMA will provide a stable support. On the higher region – intra-day resistance formed by the downward trend line coming from 1.5140 is now seen around 1.4310 – corresponding to current week’s open quote – therefore current bearish structure will remain intact as long as the said upside barrier will provide a decent region to renew selling interest. Current quote is 1.4265 @07:30 GMT
Support: 1.4220, 1.4195/00, 1.4150 and 1.4100
Resistance: 1.4300/10, 1.4350/70, 1.4400 and 1.4470/90
Market sentiment: long term – bullish, medium term – slightly bullish, short term – bearish, intra-day – neutral
INTRA-DAY USD/JPY:
Last Update At 23 Dec 2009 04:18 GMT
Range Forecast
91.50 / 91.75
Resistance/Support
R: 91.88/92.33/92.55
S: 91.30/90.91/90.60
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INTRA-DAY EUR/USD:
Last Update At 23 Dec 2009 04:20 GMT
Range Forecast
1.4237 / 1.4265
Resistance/Support
R: 1.4276/1.4316/1.4333
S: 1.4237/1.4218/1.4170
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INTRA-DAY USD/CHF:
Last Update At 23 Dec 2009 04:22 GMT
Range Forecast
1.0475 / 1.0509
Resistance/Support
R: 1.0509/1.0543/1.0600
S: 1.0443/1.0393/1.0377
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INTRA-DAY GBP/USD:
Last Update At 23 Dec 2009 04:22 GMT
Range Forecast
1.5940 / 1.5970
Resistance/Support
R: 1.5992/1.6053/1.6100
S: 1.5923/1.5857/1.5800
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