EURUSD: Daily Report 29th November 2010-12-29

Key Levels

R3: 1.3482
R2: 1.3416
R1: 1.3331
PP: 1.3266
S1: 1.3181
S2: 1.3116
S3: 1.3031
(The Key levels are based on the Pivot Points at GMT)

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Used indicators on the 1 hour chart:
- Pivot Points
- Moving Averages (200 linear weighted, 28 exp., 18 exp. 12 linear weighted, 5 linear weighted)
- ADX (14)
- RSI (21)
- MACD (12, 26, 9)

Daily Outlook

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The general trend is still bearish. In the last hour the Euro could reverse against the dollar. The moving averages crossed over, also the RSI Index crossed over the 50 mark. We see that the ADX line came down to 20 and the D+ crossed the D- line. In the moment we don't see any possible trade.

Trading Strategy

Stand aside.

Disclaimer

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