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EUR/USD 1.3000-1.3100
EUR/USD 19/04-09- The correlation between rising equity markets/rising investor risk appetite equating to a stronger EUR against the USD and JPY broke down last
week. The market is nervous that the EZ authorities and the ECB in particular
are not responding urgently enough to the economic crisis in Europe. There is a technical support at 1.3000 and resistance at 1.3100. The pair closed at 1.3040 and we are neutral about the direction at this point. There could be a bigger swing when one of these levels are breaking. 1.3300 is a possible target on the upside. Stoploss below 1.3000 is natural at this point.
EUR/USD 08/03-09 -The EUR/USD had some interesting moves on friday. A clear break of 1.2800 could break the sideway choppy moves.Importent support at 1.2450 and a break of this support would be suprising at this point. Target 1.3300 and 1.3500 if 1.2800 resistance breaks.Remember trading on the long side when the market is trading down is risky but could be well rewarded at this point.
AUD/USD 22/2-09 -We have monitored the AUD/USD as it landed at channel support and made a rebound. However, this rebound was cut short at the 61.8% retracement level before heading back to support. There are two clues to why this support has now been weakened significantly. First of all, the inability to return to resistance shows unsustainable bullish momentum. Second, the timing between this and the last test of support was relatively shorter than before. Therefore, for those playing the bounce from support, you may want to scale back position, and/or expect a target at the 0.6800 powerline area instead of resistance.
EUR/GBP 01/02-09 -So far EUR/GBP's price action has been consistent with the classic Gartley pattern, as AB was 61.8% of OA, and BC was about 61.8% of AB. The final criteria would be that CD reaches about 76.8% of OA, as well as 127% - 161.8% of BC. This means even if uptrending support is broken, the uptrend is not necessarily dead. In fact the pattern suggests very bullish potential at the 0.8500-0.8600 area. Rejection around the 0.8500-0.8600 area would suggest possible retest of 0.9500. There might be some time before this fully develops, so in the short term, we do see support first at 0.8800. A word of caution: if the market becomes a falling knife when reaching D, expectations of a rally and potential targets should be significantly reduced.
And as always, good hunting and always use stoploss
*Disclaimer
Investors can and do lose money trading in the financial markets.You and only you must decide the trades you make and the amount of risk to take. You can lose money and we will not take responsibility of that, every decision based on this site is at your own risk.
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