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Forex Pub Report, December 13, 2005 |
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Trading stance: buy on a move above 1.1950 or sell below 1.1880 with tight price/time stops.
...and from the experts...
(www.saxobank.com) With the break higher yesterday in EUR/USD, the old resistance area
becomes the new support area - meaning first support is now 1.1900 and
second and final support is the 1.1850 area. The main target higher is
1.2150-1.2200, though we may be initiating a sequence that takes us
back to 1.2500+
(ac-markets.com) The 1.1885 key was broken during European lunch, the pair rallied to
1.1980 as massive stops were triggered, it looks like the Dollar rally
as definitely ended and we turn to rise towards 1.26. 1.2000 is key
resistance, a break there send the pair up further, 1.2225 next large
resistance. Think the 1.2000 level will hold at least a day or two and
we can correct the recent spike, initial support 1.1935, again at
1.1910 and 1.1885 will now be key support, but a break there should not
lead lower than 1.1800/20ish, buy dips. On top after 1.2000, 1.2035
next minor resistance, 1.2085 strong.
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Forex Report