The best pair to trade now

16

1
EUR/USD: Still the best chance
Wed, Oct 28 2009, 12:00 GMT
by Valeria Bednarik
FXstreet.com Independent Analyst Team
Euro remains clearly the best chance across the board. With stocks falling and gold at 1031/oz, the European currency likely to extend the downside rally, thus market will define the intraday trend after U.S. Durable Goods data. Expected to the upside around 1.2%, previous month reading has been already revised to the downside, -2.6%. A number above 1.2% could trigger some optimism across the board, sending stocks and Euro higher, as the pair has just reached the 200 EMA in the 4 hours charts, yesterday’s target zone. Above 1.4790, pair could retest the 1.4835 zone. Next resistances come at 1.4880 and 1.4925, not seen at this point.
Trend remains bearish in the pair, so an acceleration under 1.4740 will likely drive the pair first to the 1.4705 area and then to 1.4680. If the last gives up, 1.4650 and 1.4620 are next supports in line.

Published on
Wed, Oct 28 2009, 12:07 GMT
Archive
- AUD/USD: acceleration expected
Published On Fri, Nov 20 2009, 13:27 GMT
- EUR/USD: Waiting the break
Published On Thu, Nov 19 2009, 12:47 GMT
- USD/CAD: Commodities are the key
Published On Wed, Nov 18 2009, 12:39 GMT
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Published On Tue, Nov 17 2009, 12:40 GMT
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Published On Mon, Nov 16 2009, 12:20 GMT
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Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
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