Tuesday 02.10.2009

EURUSD

The Euro pulled back into support zone of 1.2800/10 after testing resistance at 1.3070/90 on yesterday. Daily sentiment remains neutral although the Euro got a chance to start developing a bullish structure on yesterday but a close above the 1.3070/90 resistance is needed. Interim resistance is emerging at 1.2920 followed by 1.3070/90 and the key upside barrier at 1.3320/30. On the lower side, support starts at 1.2800/10 backed by 1.2705 and 1.2550. Intra-day studies are slightly bearish but a recovery seem to be underway. Above 1.2920/50 will confirm the recovery. Current quote is 1.2885 @07:20 GMT

Support levels: 1.2800/10, 1.2705, 1.2650 and 1.2550.
Resistance levels: 1.2920/50, 1.3000, 1.3070/90, 1.3150 and 1.3320/30.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral

Yesterday recommended trade: stand aside

AUDUSD

Resistance on the .6800 handle could not be cleared out on yesterday although the Aussie Dollar has climbed to .6848. Support into the .6650/60 region seem stable for now and a resume of the uptrend is possible. Resistance starts into the .6770 zone followed by .6850. Daily sentiment is bullish while hourly studies are neutral at the time of this writing. Intra-day momentum is expected to turn bullish on a potential break of .6770. Current quote is .6714 @07:20 GMT

Support levels: .6650/60, .6560, .6475, .6415 and .6350/60.
Resistance levels: .6770, 6800 and .6840/50.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish

Yesterday recommended trade: small long at .6700, initial stop at .6660, objective at .6800. Adjust stop to breakeven on +30 pips (at .6730) if reached : +100 pips

EURCHF

Support is formed on the 1.5050 mark and while it holds, the upside is expected to remain under focus. Key resistance is seen at 1.5190 and a potential break may open 1.5270 for test within the upcoming sessions. Key resistance is formed at 1.5270 by the 50% retracement of the 1.5880-1.4655 move. Both daily and hourly studies are bullish. Current quote is 1.5120 @07:20 GMT

Support levels: 1.5050, 1.4950, 1.4880 and 1.4800/15.
Resistance levels: 1.5170/90, 1.5270 and 1.5410.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish

Yesterday recommended trade: stand aside

This entry was posted on Wednesday, February 11th, 2009 at 9:14 am and is filed under Forex Daily Quotes. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.