EURUSD - 1.3603 @06:33 GMT
Trading strategy: looking to buy on pullback to 1.3530, stop at 1.3470(0.5% risk), 1st objective at 1.3590, 2nd objective at 1.3650
Good morning. Euro's recovery continues and former resistance level at 1.3430 looks 'cheaper' now, while the single currency flirts with $1.36. My Friday plan to buy on rally - at 1.3530 - was a good bet, but looking for a pullback now is probably safer than buying into the top side. First intraday support stands at 1.3530, backed by 1.3500 and 1.3430/50. On the upside we have resistance at 1.3650 followed by 1.3700/30 and 1.3800. Both short-term and intraday studies are bullish at time of writing and so far the euro doesn't seem tired.
- EURUSD 4hrs chart 1-24-2011
- EURUSD daily chart 1-24-2011