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The Best Cross to Trade now
10
0
EURNZD
Tue, Sep 22 2009, 06:37 GMT
by Rajoo C
FREE 1 week Trial
Daily Reports (Trends, Precise Entry & Exit levels and Strategies) on 9 Crosses- USD Majors, USD Minors & JPY Crosses.
Market Insight
The Hourly Trend is Sideways Down while 20820 level holds. NZD is the Strongest Cross and EUR is one of the Weakest Cross now during Asian Session .The Hourly Oscillators are Bearish but in its Final leg Down but ADX is Rising with the price falling and the price is Below the MA. On the 5 min the Oscillators are mixed and it is in the range trading now. We believe any pull back near 20635-20740 area should be an opportunity for the bears. NZDUSD is trading above Res U turn Zone 5 and EUR is trading at the RES Zone 1. EURNZD has breached the prior low 20575.
Patterns
We believe that NZD is strong against at least 7 crosses and most crosses are trading at the critical levels. EURNZD is creeping lower and has not reached its price target at least 20430-20385 level.
Today’s Strategies
We prefer to SHORT on rallies near 20635-20740 with a STOP @ 20800 with a profit target of 20480-20430 levels. Please use trailing stop as it is in the final leg of the Down move and NZDUSD is expected to reverse direction soon and EURUSD is approaching its price target. If the price target of 20430-20385 is hit before any retracement then we only go for a 50-70 pips target instead of the price target levels, as the price is already 270 pips down.
Published on Tue, Sep 22 2009, 06:40 GMT
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