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Daily Recommended Trades
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Daily technical outlook
Fri, Oct 30 2009, 06:51 GMT
by Liviu Flesar
EURUSD
Yesterday’s bounce off support on the 1.4700 handle was an early warning signal that uptrend could resume and the decline to 1.4700 was corrective in nature. Resistance formed into the 1.4850 region by September’s peak has limited yesterday’s gains but the euro may resume yesterday’s rally, a close above 1.4850 would increase the odds of uptrend resumption. On the lower side, support starts at 1.4800, backed by 1.4750 and 1.4700. Important support is also seen below 1.4700, at 1.4650 and 1.4600. Current quote is 1.4825 @06:50 GMT
Support: 1.4800, 1.4750, 1.4700 and 1.4650
Resistance: 1.4850, 1.4900/30 and 1.5000
GBPUSD
Upside is under renewed pressure as cable managed to break above 1.6500, bringing the 1.6700-1.6740 reistance zone in focus. Minor support has been formed at 1.6450/70 and while it holds on potential pullbacks, the upside should remain favored. Short-term sentiment is positive while the intra-day is neutral at the time of writing this. Current quote is 1.6530 @06:50 GMT
Support: 1.6500, 1.6450/70, 1.6400 and 1.6300
Resistance: 1.6600, 1.6700 and 1.6740/50
Published on Fri, Oct 30 2009, 06:55 GMT
Archive
- 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 - Daily technical outlook
Published On Wed, Nov 18 2009, 06:35 GMT
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