Sabtu, 21 Mei 2011

EURUSD: Recovery Still Weak

Quote of the day:“If the facts don’t fit the theory, change the facts” – Albert Einstein
EURUSD – 1.4250 @06:40 GMT
Good morning. 1.4230/50 is currently providing minor intraday support after yesterday’s recovery initiated at 1.4130. Current upside pullback is still weak compared to last down leg from 1.4935 to 1.4050, so there’s still more room EUR to advance higher, in order to challenge notable barriers at 1.4400/50 and 1.4500. Short-term sentiment is bearish while the hourly charts are bullish at time of writing and as long as the pair holds above 1.4200/30. I closed my short trade at breakeven on yesterday’s Read More

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