|
EURUSD Pullback Hitting Resistence |
|
Written by Administrator
|
|
Tuesday, 31 August 2010 08:27 |
|
I am now watching these four lines. A higher pullback should be contained by line A. Line C is definate short term resistence. If price breaks C, then I will look for a test of the A line. 1.2677 and Line B are support lines that should turn into resistence. I may fade this region on weakness with a target of 1.2600/585.
|
|
Last Updated on Tuesday, 31 August 2010 08:34 |
|
|
EURUSD Support Coming Into Play |
|
Written by Administrator
|
|
Monday, 30 August 2010 14:24 |
|
The rising trend line should lend support for the day. Without Europe in the office last night, traders may be a little skeptical of a larger move, and this recent tumble may be completely reversed as US traders take profits, in anticipation of this happening, if price can not get significantly further below this support line.
I am looking for a pullback to at least 1.2710 and maybe higher to 1.2750 before Europe gets back in tonight. If the support line breaks I'll look for it to be tested as resistence before shorting from there.
|
|
Last Updated on Monday, 30 August 2010 14:30 |
|
|
|
