Dislikedhttp://cdn.forexfactory.com/images/attach/png.gif 2010-10-12_00h53_ EURUSD _ 005min _ (all ind).PNG (45.7 KB)
Outlook:
Elliott :
Projection : Correction ZigZag 1.3834 or irregular flat down 1.3793 from 1.4013/ or 1.4029 ...
Valid as long as 1.3899 - 1.3919 may act as a resistance zone ... 1.3940 would dampen this view ...
Pivotal Strategy :
As long as above 1.3862 - 1.3852/ 49 zone...Ignored
ASIA DAILY FOREX OUTLOOK - Majors
12 Oct 2010, 01:42
SINGAPORE (Dow Jones)
http://cdn.forexfactory.com/images/attach/pdf.gif 2010-10-12_01h42_ASIA DAILY FOREX OUTLOOK - Majors.pdf (14.8 KB)
EUR/USD - to trade with risks skewed lower. Weighed by profit-taking on EUR-longs, recent jawboning on euro strength from Euro-group President Juncker, lingering concerns over economic & fiscal health of peripheral euro-zone nations. But EUR/USD losses tempered by EUR demand from sovereign central banks, IMF saying it would be open to extending Greek loan repayments; expectations of more QE measures from U.S. Fed. Data focus: 0600 GMT German September CPI, WPI; 1620 GMT ECB's Trichet speech. EUR/USD daily chart negative-biased as stochastics turned bearish at overbought; positive MACD histogram bars contracting, pointing to increasing downside risks. Support at 1.3864 (yesterday's low), then at 1.3833 (Friday's low); breach would expose downside to 1.3797 (Wednesday's low), then 1.3635 (Oct. 5 low), 1.3617 (Oct. 1 low) and 1.3558 (Sept. 30 low). Resistance at 1.3955 (hourly chart), then at 1.4011 (yesterday's high) and 1.4030 (Thursday's high); breach would reinstate near-term positive bias, exposing upside to 1.4197 (Jan. 25 high), then 1.4216 (previous base set Dec. 22, 2009) and psychological 1.4500.
;-)
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2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts