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Daily Recommended Trades

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Daily Technical Outlook

Tue, Jun 30 2009, 06:06 GMT
by E-Forex Team

InnerFX

EURUSD

Upside is under renewed pressure due to yesterday's 120 points rebound to as high as 1.4130 on today's Asian session. The euro holds steady around the 1.4100 handle at the time of this writing and first resistance is emerging at 1.4140/50. A sustained breach should open the 1.4330/50 top side region for a test within the coming days. Key resistance is formed into the 1.4330/50 zone, followed by 1.4620 higher - the 61.8% of last year's decline from 1.6035 to 1.2330. Intra-day sentiment is also positive and potential pullbacks should be limited into the 1.4050/60 support zone in order to maintain the bullish structure intact. Current quote is 1.4110 @06:05 GMT

Support levels: 1.4050/60, 1.4000, 1.3950 and 1.3900
Resistance levels: 1.4140/50, 1.4175/80 and 1.4250
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish

AUDUSD

The Aussie dollar managed to breach above last week's top and is currently challenging offers into the .8120 region. Important resistance is formed around .8185 by a downward trend-line extended through previous highs at .8260 and .8235 respectively. Both daily and intra-day studies are bullish, current positive conditions being valid as long as support into the .8050/85 region will remain intact. Upside is likely to remain favored. Current quote is .8113 @06:05 GMT

Support levels: .8050/85, .8000 and .7930
Resistance levels: .8185/00, .8235 and .8260
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish

EURCHF

The pair seem to re-join a corrective phase as the market was calm on yesterday - moving into a narrow range of 60 points. Support starts at 1.5235 backed by 1.5190. Resistance is seen at 1.5285 then higher at 1.5325 and 1.5380. Momentum is positive on both intra-day and daily charts. Current quote is 1.5262 @06:05 GMT

Support levels: 1.5235, 1.5190, 1.5140/50 and 1.5100
Resistance levels: 1.5285, 1.5325 and 1.5380/00
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish

Published on  Tue, Jun 30 2009, 06:09 GMT