EURUSD significant levels for 3-7 august 2009
EURUSD Weekly chart for 3-7 august 2009
EURUSD Daily chart for 3-7 august 2009
EURUSD H4 chart for 3-7 august 2009
EURUSD H1 chart for 3-7 august 2009
From the Weekly chart, we see a nice bearish Gartley pattern. As long as 1.4362 holds, I’m keeping a bearish bias and the bearish Gartley pattern stands.
From a daily perspective, I will be waiting for the price to trade below the 50 day moving average, which it has been respecting as a support level since 29th april 2009. A break below this EMA (below 1.4000) would confirm my bearish view.
From an H4 perspective, price looks overbought and a break below 1.4185 ( 50% Monthly Fib) would have me taking shorts with tight stops.
The H1 chart looks good for shorts, all the way down to 1.4085, which looks like a good level for a 45 pip long scalp.
Overall, the market sentiment, from a technical point of view, looks bearish next week.
Tags: EURUSD, forex, resistance, support, trading
March 9th, 2010 at 2:10 am
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March 9th, 2010 at 4:57 am
I’ve just sent you an email, just commenting in case you haven’t received it.
Thank you for your comment!
March 10th, 2010 at 12:41 pm
Hi Victor,
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