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Daily Recommended Trades

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Daily Technical Outlook − Thursday 10.02.2008

Thu, Oct 2 2008, 06:38 GMT
by E-Forex Team

E-Forex

EURUSD

The Euro continues is under renewed pressure since the psychological bottom at 1.4 has been broken and the recent low at 1.3880 is on focus. A sustained break of the said support may open 1.3690. Both daily and hourly studies are bearish. On the upside, resistance starts at 1.4 followed by 1.4080 and 1.4160. Below 1.3880 support is formed at 1.3840, 1.3750 and 1.3690. Current quote is 1.3944 @06:35 GMT

Support levels: 1.3880/85, 1.3840, 1.3750 and 1.3690. 
Resistance levels: 1.4, 1.4080 and 1.4160. 
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish

AUDUSD

Important support at .7800 is on focus while trading below the .7900 mark. Both daily and intraday studies are bearish and resistance levels at .7900/15 followed by .7980 and .8100 are seen as selling opportunities on potential pullbacks. Minor support is seen at .7850. Current quote is .7891 @06:35 GMT

Support levels: .7850 and .7800.
Resistance levels: .7900/15, .7980, .8050 and .8100.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish

EURCHF

The downside action resumed as the retracement to 1.5810 is over and the decline may extend towards recent lows at 1.5660. Resistance starts at 1.5750 followed by 1.5810 and 1.5860. Support is noticed at 1.5700 backed by 1.5660 and 1.5600. Both daily and intraday studies are bearish. Current quote is 1.5733 @06:35 GMT

Support levels: 1.5700, 1.5660 and 1.5600.
Resistance levels: 1.5750, 1.5810, 1.5850 and 1.5900.
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish

Published on  Thu, Oct 2 2008, 06:39 GMT