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Majors at a glance 24/04/2009

Posted on April 24, 2009 at 2:19 in Starting the day by David Aranzabal

This is a quick review about EUR/USD and GBP/USD:

EUR/USD

Euros have traded higher to 1.3163. Now you do have a little double top on the hourly charts and sellers will be aware of it. 1.3165 should be the top, and sellers are expected t be aware of this level and defend it religiously.

1.3090 will be the break point, and losses through here sees the sellers grab the reins and push this market down to a minimum target of 1.3025. Buyers will come in and support at these lower levels and stave off the competition for a while, but do feel sellers will keep pressing and an eventual break of these lower levels should occur.

However, if the buyers decide enough is enough on the downside they will buy these lower levels and push through to 1.3230 possible 1.3270. Buyers will take profits at these lower levels and only re-think above buying this market if above 1.3195.

3 Responses to “Majors at a glance 24/04/2009”

on 24 Apr 2009 at 2:58 am1j.j

David hi , v. good work thanks
Regards
on 24 Apr 2009 at 11:54 am2David Aranzabal

Hi j,j

Welcome again !! Let’s enjoy trading !!
Regards,
on 25 Apr 2009 at 4:47 pm3cumali

Hi Mr David. Ihave been watching you for 1 month.you’re my man ı think :=) good luck with next trades..

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