Wednesday 02.11.2009

EURUSD

Daily sentiment maintains a neutral stance after the Euro has switched direction, tripping the downside after the failed attempt to climb past resistance zone of 1.3070/90. Interim support was found on the 1.2800 handle and if it holds, a recovery may occur, focusing on the same near-term resistance area of 1.3070/90. On an intra-day basis, the charts are slightly bearish but above 1.2950, momentum will turn positive. Following 1.3070/90, key resistance is eyed at 1.3320/30. Current quote is 1.2913 @07:20 GMT

Support levels: 1.2850, 1.2800/10, 1.2705, 1.2650 and 1.2550.
Resistance levels: 1.2950, 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

The large pullback of yesterday brings pressure on the downside and support at .6500 plays a decisive role on keeping near-term’s momentum positive. Below the said support, losses will probably extend to .6350 or below. Upside barriers are seen at .6600 followed by .6650/60 and .6840. Daily studies are still bullish while the hourlies are slightly bearish at the time of this writing. Current quote is .6542 @07:20 GMT

Support levels: .6500, .6415 and .6350/60.
Resistance levels: .6600, .6650/60, 6800 and .6840/50.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish

Yesterday recommended trade: stand aside

EURCHF

The 1.4900 region is back on focus and the short-term momentum losses strength. Resistance is formed into the 1.5050 zone followed by 1.5150 and 1.5270. Below 1.4880, support emerges at 1.4815 and 1.4745. Intra-day studies are bearish and resistance into the 1.5025/50 zone is expected to be strong. Current quote is 1.4947 @07:20 GMT

Support levels: 1.4880, 1.4800/15 and 1.4745.
Resistance levels: 1.5025/50, 1.5150 and 1.5270.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish

Yesterday recommended trade: stand aside

This entry was posted on Wednesday, February 11th, 2009 at 9:15 am and is filed under Forex Daily Quotes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.