EUR/USD - Daily analysis and trading strategies 7-27-10

By IBTimes Staff Reporter | July 27 2010 2:13 AM

EURUSD

Sponsorship Link

Trading strategy: small long at 1.2960, stop at 1.2880(0.5% risk), 1st objective at 1.3010, 2nd objective at 1.3100

Fresh upside targets are in focus as the euro climbed higher yesterday and managed to stabilize around the $1.3 handle in overnight trading session. The full break above 1.3000 is in the cards and in case it happens-then 1.3250 will be the next important objective. Intra-day sentiment is bullish at the time of writing and no change will occur as long as dips won't break below 1.2950. Buying on minor pullbacks or on a breakout higher seem the best strategies to use in current conditions. Current exchange rate is 1.3017 @05:50 GMT

Support: 1.2950, 1.2900, 1.2860 and 1.2750/70 Resistance: 1.3025/50, 1.3100 and 1.3250 Market sentiment: long term - bearish, medium term - slightly bearish, short term - bullish, intra-day - bullish

EURUSD