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Technical Archives |
Written by Innerfx |
Mar 15 10 02:17 GMT
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Daily Technical Outlook
EURUSD
Last week's recovery up to 20 days top side and above the downward trend line extended from 1.3850 covering recent weekly peaks suggests that downside pressure is lower and an extended recovery might be in the cards for the coming weeks. Short-term sentiment is slightly bullish and the euro should hold above former resistance around 1.3670 in order to maintain current positive bias. Next support to watch in case of a decline below 1.3670/00 comes around 1.3580/00. Intra-day studies are slightly bearish due to current retracement from Friday's top and some more losses are likely before re-testing the 1.3800 mark. Buying dips into the 1.3650/70 for rebound to 1.38 seems a good plan, for now. Current exchange rate is 1.3752 @07:05 GMT
Support: 1.3700, 1.3650/70, 1.3585/00 and 1.3550
Resistance: 1.3790/00, 1.3840/60 and 1.3900
Market sentiment: long term - bullish, medium term - bearish, short term - slightly bullish, intra-day - slightly bearish
Innerfx
Legal disclaimer and risk disclosure
InnerFX and/or its author(s) shall not be responsible for any loss arising from any investment or trading decision based on any recommendation, forecast, strategy or other information herein contained. The contents of this article should not be construed as an express or implied promise, guarantee or implication by InnerFX and/or its author(s) that readers and subscribers will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations / strategy in an analysis, especially leveraged investments such as Foreign Exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated. Trading in the Currency Exchange market is a challenging opportunity where above average returns are available to educated and experienced investors who are willing to take above average risk. Past performance does not guarantee similar performance in the future. Check http://www.innerfx.com/disclaimer for full disclaimer. You may not post this (or part of this) article to forums, newsgroups, mailing lists, electronic bulletin boards, websites, or other services, without the prior written consent of InnerFX. |
About the AuthorInnerfx
Legal disclaimer and risk disclosure
InnerFX and/or its author(s) shall not be responsible for any loss arising from any investment or trading decision based on any recommendation, forecast, strategy or other information herein contained. The contents of this article should not be construed as an express or implied promise, guarantee or implication by InnerFX and/or its author(s) that readers and subscribers will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations / strategy in an analysis, especially leveraged investments such as Foreign Exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated. Trading in the Currency Exchange market is a challenging opportunity where above average returns are available to educated and experienced investors who are willing to take above average risk. Past performance does not guarantee similar performance in the future. Check http://www.innerfx.com/disclaimer for full disclaimer. You may not post this (or part of this) article to forums, newsgroups, mailing lists, electronic bulletin boards, websites, or other services, without the prior written consent of InnerFX. |
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