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Currency Strategy - 11/05/2010
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TOPIC: Currency Strategy - 11/05/2010
#241
Currency Strategy - 11/05/2010 3 Months, 3 Weeks ago Karma: 0
* USDCHF
USDCHF is currently in a downtrend correction phase, but the main trend is still bullish. Check levels 1.1075, 1.1005 and 1.0924, if broken next level is 1.0873. On the upside check 1.1126 and 1.1188, if broken price would reach 1.124566 and 1.1340.

Resistances: 1.1126 / 1.1188 / 1.1245-66 /1.1340
Supports: 1.1075 / 1.1005 / 1.0924 /1.0873-90
Strategy: Buy on break @ 1.1126, SL 1.1075, TP 1.1200

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* EURCHF
EURCHF is currently still in trouble. Check1.4053 and 1.4005 for a further bearish move to 1.3879 and then 1.3772. On the Upside check 1.4267 and mostly 1.4334. If reach the bearish momentum will loosen significantly

Resistances: 1.4267 / 1.4334-45 / 1.4367 /1.4466
Supports: 1.4053 / 1.4005 / 1.3879
Strategy: Sell on break @ 1.4053, SL 1.4186, TP 1.3970

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* EURUSD
We may have a shooting star pattern in formation. Check 1.2707 and 1.2609, a break would lead the price to 1.2510, maybe even 1.2329.

Resistances: 1.2803 / 1.2880 / 1.3095-1.3114
Supports: 1.2707 / 1.2609 / 1.2510 / 1.2329
Strategy: Wait for a break of the range 1.2707 & 1.2803 before acting further.
Forex_Master
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Last Edit: 2010/05/11 04:08 By Forex_Master.
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