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Usd looks weak early…we have some minor resistance at 6010 area but it looks like we can run up to 6080 before any shorts get some serious thought…also strong support at 5965…I will try to update as I see more, but I think there will be a nice buy trade from around 5980 area for a run up to that 6080 level…Happy trading all…
Last edited by ForexFocusTime; 02-03-2010 at 01:04 AM..
Our main resistance on GU today is the 5920 level…I look for more down today with a possible break of this strong support around 5850 and we can see 5750 by the end of the week….so a short from the resistance with a 20 pips stop and a 100+ limit should be a good risk ….Happy trading all…
Today i see G/U retracing upward before NF news…very hard for me to beleive we break 5706, this low on D1 without momentum…so a resistance at around 5760 and key levels at 5800 and 5850 … if we break D1 low early euro session we will fall to 5640 as my h4 t/p level…To add to my thinking for today…a long from 5706 which is d1 low with a 10 pip stop to the first resistance i pointed out and a short off the upper levels would be a good trade….i will post what the RSI is telling me when we get to those upper levels…
Looks like we will have a slow euro session that will chisel out a bottom for us to take us into US session going long…I think early trading will be ranging as there is no news. A good note is that GU had a bounce at 123% hitting 1.5535 so we could see a bottom for today's trading day…So going long from the low range with a minimal stop loss and a t/p at our resistances which are at 1.5608 and 1.5640 levels would be a good trade….Happy trading all…
My outlook for GU today is long…we have resistance at 5655 and a good level at 5735… support is at 5605 and 5570 area…personally im long at 5610 with tp’s at first and second resistance…so entering long at the support areas with small stops would be a good plan imho…Happy trading all…
I think gu can move up to double top at around 5730 and move down from there….but if it breaks this double top, price will move to 5800 area (hard to beleive)…there is supports at 5645/50 and 5605…so longs off supports with trailing stops and shorts off double top area with at least a 50-70 pip target….
There is support at 5615/05 area with stronger support at 5570…I think we can have a G/U run up to 5720-30 area today with minor resistance at 5660…but if bottom support is broken we can see the downtrend continuing…
Our main resistance on GU today is the 5920 level…I look for more down today with a possible break of this strong support around 5850 and we can see 5750 by the end of the week….so a short from the resistance with a 20 pips stop and a 100+ limit should be a good risk ….Happy trading all…
Forex,
I am not a technical trader but always enjoy reading about how you approach things.
What is the GU? Presumably it is some kind of weighted average of the USD, right? What is the ticker in say yahoo finance?
Thanks,
S.
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No negative month performance
