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Daily Recommended Trades
Daily technical outlook
Tue, Oct 20 2009, 05:32 GMT
by Liviu Flesar
InnerFX | View company's profile
EURUSD
Trading strategy: short at 1.5060, initial stop at 1.5120, objective at 1.4960. Adjust stop to breakeven on +30 pips (at 1.5030) if reached
The euro rose to a fresh high at 1.4993 – a few points below the 1.5 barrier. Current pullback is modest and a re-test of the 1.5000 within the coming sessions is likely. If dollar’s weakness will extend past 1.5000, next upside barriers will come into play at 1.5050/70 and 1.5100. On the downside, the euro is supported by 1.4950 on first place, backed by 1.4890/00 and 1.4820 lower. Upside is favored for now and both intra-day and short-term studies are positive. Current quote is 1.4975 @05:33 GMT
Support: 1.4950, 1.4890/00 and 1.4820
Resistance: 1.5000, 1.5050/70 and 1.5100
GBPUSD
The downtrend channel’s resistance around 1.6400 has been reached and provides resistance for now but odds seem to favor a break out. In case of one, next objective comes at 1.6500/30 – 1.6530 being formed by the 61.8% retracement of the whole 1.7040-1.5705 move. Below current trading region, support is seen at 1.6300 backed by 1.6230/50 and 1.6120/50. Current quote is 1.6399 @05:33 GMT
Support: 1.6300, 1.6230/50 and 1.6120/50
Resistance: 1.6400/30, 1.6500/30 and 1.6600
Published on Tue, Oct 20 2009, 05:34 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
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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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