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Daily Recommended Trades
6
1
Daily Technical Outlook
Thu, Jul 2 2009, 06:01 GMT
by E-Forex Team
EURUSD
Yesterday's boost to as high as 1.4200 - above last month's top at 1.4140 is seen as a bullish confirmation of current trend and the overnight pullback to 1.4100 is corrective, so far, support being formed at.14100 by the 50% retracement of yesterday's move from 1.4000 to 1.4200. The euro attempts to stabilize above the 1.4100 mark at the time of this writing. In case 1.4100 holds, upside targets could be challenged first at 1.4200 - yesterday's top, then higher - at 1.4250 - interim resistance on the way towards the yearly top at 1.4340. Upside is favored for now, while above 1.4100. Below that, extended losses may extend to 1.4000. Current quote is 1.4117 @06:00 GMT
Support levels: 1.4100, 1.4000, 1.3950 and 1.3900/10
Resistance levels: 1.4150, 1.4200 and 1.4250
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
AUDUSD
The Aussie dollar has given back yesterday's gains as the US dollar is slightly stronger across the board. Minor resistance is now seen at .8100 followed by .8140/50 and the recent top into the .8230-.8260 zone. Intra-day sentiment is bearish due to the overnight 70 points pullback. Extended losses may reach lows around .7930/50 where first notable support is seen, backed lower by .7850. Daily momentum is positive. Current quote is .8042 @06:00 GMT
Support levels: .8000, .7930 and .7840/50
Resistance levels: .8100, .8155/85, .8235 and .8260
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
EURCHF
Initial support at 1.5235 has been cleared out and the euro continues to lose ground versus the swiss franc, testing bids around the 1.5200 handle at the time of this report. 1.5150 is the next bearish objective and it may limit the downside for now. Current quote is 1.5200 @06:00 GMT
Support levels: 1.5190/00, 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 Thu, Jul 2 2009, 06:02 GMT
Archive
- Daily technical outlook
Published On Tue, Nov 24 2009, 07:04 GMT - Short term outlook
Published On Mon, Nov 23 2009, 20:05 GMT - Daily technical outlook
Published On Mon, Nov 23 2009, 06:59 GMT - Daily technical outlook
Published On Fri, Nov 20 2009, 07:00 GMT - Daily technical outlook
Published On Thu, Nov 19 2009, 07:03 GMT
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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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