•  
  • New York 18:52
  • London 22:52
  • Barcelona 23:52
  • Tokyo 07:52
  • Sydney 09:52

  • SignUp | Login

Daily Recommended Trades

Daily Technical Outlook − Thursday 11.13.2008

Thu, Nov 13 2008, 07:51 GMT
by E-Forex Team

InnerFX  |  View company's profile


Vote:

16

0

EURUSD

Interim support on the 1.2400 mark is on focus at the time of this report. Key support formed by recent lows at 1.2330/35 is seen a bit lower and a potential break will be extremely bearish for the Euro, opening the 1.1650-1.2300 zone for further decline within the upcoming weeks. Another important support level is formed at 1.2190 by the 50% retracement of the entire .8345-1.6035 move and this may cause an important bounce if reached. Daily sentiment is bearish. Current quote is 1.2405 @07:45 GMT

Support levels: 1.2400, 1.2330/35 and 1.2190/00.
Resistance levels: 1.2525, 1.2625 and 1.2800.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish

AUDUSD

Support formed at .6390 by the 61.8% retracement of the last upward swing from .6035 to .7015 is under pressure and a full break will strengthen the bearish momentum favoring a decline to the interim support at .6245/50. Resistance emerges at .6480 followed by .6630 and .6780. Current quote is .6400 @07:45 GMT

Support levels: .6390, .6245/50 and .6010.
Resistance levels: .6480, .6630, .6780 and .6860.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish

EURCHF

Daily momentum is losing strength but while support at 1.4735 formed by the 50% retracement of the 1.4300-1.5170 move holds, a recovery past the 1.4900-1.4940 resistance zone is possible. Above 1.4940 will re-establish uptrend and confirm that the decline to 1.4735 was corrective. However, while holding below 1.4880, the downside remains under heavy pressure and a fall below 1.4735 may easily occur at any time. Current quote is 1.4803 @07:45 GMT

Support levels: 1.4735, 1.4630 and 1.4540.
Resistance levels: 1.4880, 1.4940 and 1.5050.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish

Published on  Thu, Nov 13 2008, 07:51 GMT


InnerFX http://www.innerfx.com | info@innerfx.com

Archive


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.
Vote:

16

0

Related reports

Continued Economic Recovery, Low Inflation by Wells Fargo Investments, LLC
Fri, Mar 19 2010, 19:58 GMT

USD higher, Greek debt worries, India hikes rates by Easy Forex
Fri, Mar 19 2010, 18:04 GMT

EUR/USD: No time for reversal yet by FXstreet.com Independent Analyst Team
Fri, Mar 19 2010, 15:27 GMT

Stock Traders focusing on Quadruple Witching by ForexHound.com
Fri, Mar 19 2010, 14:36 GMT

Discount rate discussions keeping floor under bonds by Interactive Brokers LLC
Fri, Mar 19 2010, 14:29 GMT

audusd, eurusd, eurchf

[ View All ]

Related content

Forex: EUR/USD ends week below 1.3550, first time in 10-months
FXstreet.com | Fri, Mar 19 2010, 20:31 GMT

Forex: AUD up from lows and sleepy ahead weekend
FXstreet.com | Fri, Mar 19 2010, 17:25 GMT

Forex: EUR/USD finds support at 1.3500
FXstreet.com | Fri, Mar 19 2010, 16:24 GMT

Forex: CAD suffers Greenback strength
FXstreet.com | Fri, Mar 19 2010, 16:03 GMT

Commodities: Gold shattered in seconds
FXstreet.com | Fri, Mar 19 2010, 14:42 GMT

audusd, eurusd, eurchf

[ View All ]

Interested in forex trading? forex brokerage firms!


Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
FX Solutions LLC
Contact the broker/FDM
Open a demo account
FXDD
Contact the broker/FDM
Open a demo account		Forex Club Financial Company
Contact the broker/FDM
Open a demo account		Easy-Forex® Trading Platform
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.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.