euro silne po pokonaniu oporu

Quote of the day: “Believe you can and you’re halfway there.” – Theodore Roosevelt

EURUSD – 1.3680 @07:53 GMT

Good morning. Upside is back in focus as the euro rallied on Friday, reversing at 1.3550. My plan to sell at 1.3560 on the potential breakdown turned bad but the secondary plan – to switch direction on rally, buying around 1.3625, was ok – recovering the previous loss. Now that the trendline coming from 1.3860 through 1.3740 was broken around 1.3620 on Friday – I am looking for fresh buying opportunities – and the daily charts are confirming the bullish bias. Near term resistance stands at 1.3750 and potential break above negates the lower highs formation on the daily charts. The market will probably be quiet today due to the US President’s Day holiday.

Trading strategy: looking to buy on pullback to 1.3620, stop at 1.3560 (0.5% risk), 1st objective at 1.3680, 2nd objective at 1.3800

Support: 1.3620, 1.3550/80, 1.3500, 1.3430/50, 1.3360 and 1.3300
Resistance:   1.3700, 1.3730/50, 1.3800 and 1.3860
Market sentiment: long term – mixed, medium term – bullish, short term – bullish, intraday – bullish

EURUSD 4hrs chart 2-21-2011
EURUSD 4hrs chart 2-21-2011
EURUSD daily chart 2-21-2011
EURUSD daily chart 2-21-2011

About abwehra group

The Art&Science of Trading Gold
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