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Daily Recommended Trades

EUR/USD

Fri, Nov 10 2006, 06:46 GMT
by Liviu Flesar

InnerFX  |  View company's profile


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The Euro managed to achieve what it couldn't during the previous month by breaking 1.2830. Not only that the strong barrier was broken but support has also been found at 1.2820 as the Euro settled successfuly above the said support. Support backs 1.2820 at 1.2800 and 1.2750. Lower, it is also seen at 1.2700 and 1.2660. Looking North, resistance emerges at 1.2875, the high of September, and 1.2940 which is the high of August. Higher, strong barrier is seen at 1.2980, current year's high set on May and June. Both daily and hourly studies are bullish. While the lower supports of 1.28 remain intact, we are expecting tests of 1.2875 and maybe a climb past 1.29. Current quote is 1.2852 @06:41 GMT

Recommended trades:

Long in the 1.2830 area, stop below 1.2800, objectives at and above 1.2880. In case of a break of 1.2875, extended objectives may aim at 1.2920.

Published on  Fri, Nov 10 2006, 06:46 GMT


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