FXstreet.com

Daily Recommended Trades

0

0

Daily Technical Outlook − Thursday 10.02.2008

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

InnerFX


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


Archive

InnerFX  | 10 Victoriei Blvd., Sibiu, 550024
http://www.innerfx.com | info@innerfx.com

Legal disclaimer and risk disclosure

InnerFX and/or its author(s) shall not be responsible for any loss arising from any investment or trading decision based on any recommendation, forecast, strategy or other information herein contained. The contents of this article should not be construed as an express or implied promise, guarantee or implication by InnerFX and/or its author(s) that readers and subscribers will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations / strategy in an analysis, especially leveraged investments such as Foreign Exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated. Trading in the Currency Exchange market is a challenging opportunity where above average returns are available to educated and experienced investors who are willing to take above average risk. Past performance does not guarantee similar performance in the future. Check http://www.innerfx.com/disclaimer for full disclaimer. You may not post this (or part of this) article to forums, newsgroups, mailing lists, electronic bulletin boards, websites, or other services, without the prior written consent of InnerFX.

Related reports

FX View - Headline unemployment rate creates dollar shocker by Interactive Brokers LLC
Fri, Nov 6 2009, 18:41 GMT

Forex Daily Overview - USD mixed, unemployment rises to 10.2% by Easy Forex
Fri, Nov 6 2009, 18:31 GMT

Forex Daily Analysis - USDJPY is moving towards support level at 89.55 by Investija.com
Fri, Nov 6 2009, 14:35 GMT

Forex Technical Report - U.S. Markets Brace for Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:29 GMT

Forex Technical Report - Dollar Trading Lower Ahead of U.S. Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:19 GMT

audusd, eurusd, eurchf

View All

Related content


Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Alpari (US), LLC
Contact the broker/FDM
Open a demo account		Forex Club Financial Company
Contact the broker/FDM
Open a demo account		IG Markets
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.