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Daily Recommended Trades
Daily Technical Outlook − Friday 02.20.2009
Fri, Feb 20 2009, 07:10 GMT
by E-Forex Team
InnerFX | View company's profile
EURUSD
The Euro recovered on yesterday but upside has been limited by the resistance region of 1.2720/50 and pulled back into the 1.2580 zone where bids are tested at the time of this writing. Daily sentiment remains bearish as a break above 1.2890 is needed to confirm a reversal. Support emerges at 1.2550 backed by 1.2500/10 then 1.2400/20 and 1.2330, lower. Intra-day studies are also bearish. Downside is expected to stay under pressure while trading below 1.2900. Current quote is 1.2578 @07:10 GMT
Support levels: 1.2540/50, 1.2500/10, 1.2400/20 and 1.2330.
Resistance levels: 1.2720/50, 1.2800 and 1.2890.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
AUDUSD
Resistance into the .6530 zone could not be cleared out on yesterday and the bearish objectives are back on focus, first support being seen at .6330. A break lower will probably extend losses towards .6250 which is a key barrier. Resistance emerges at .6450 followed by .6530 and .6590. Momentum is bearish on both hourly and daily charts. Current quote is .6363 @07:10 GMT
Support levels: .6330, .6300 and .6250.
Resistance levels: .6450, .6530 and .6650/60.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
EURCHF
Momentum regains strength as the upside is under pressure. First resistance is seen at 1.4950 and a potential break will confirm that the uptrend resumes. Support emerges at 1.4840 backed by 1.4750 and 1.4700. Intra-day studies are slightly bullish and rallies towards the 1.5 mark seem favored. Current quote is 1.4875 @07:10 GMT
Support levels: 1.4840, 1.4750, 1.4700, 1.4650 and 1.4500.
Resistance levels: 1.4900, 1.4950 and 1.5010/20.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Published on Fri, Feb 20 2009, 07:11 GMT
Archive
- Daily technical outlook
Published On Fri, Mar 19 2010, 06:58 GMT - Daily technical outlook
Published On Thu, Mar 18 2010, 06:52 GMT - Daily technical outlook
Published On Wed, Mar 17 2010, 07:19 GMT - Daily technical outlook
Published On Tue, Mar 16 2010, 08:32 GMT - Daily technical outlook
Published On Mon, Mar 15 2010, 07:06 GMT
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
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