January 9th Analysis - EURUSD - Sardar Uddin
USD Majors have moved sideways yesterday. Expect same kind of trends for today with some inclination towards weaker USD.
Outlook Long to Neutral
Fundamental Watch
Trade Balance GBP 4:30 am EST
German Industrial Production EUR 6:00 am EST
Crude Oil Inventories USD 10:30 am EST
10-y Bond Auction USD 1:00 pm EST
Awaiting Feedback !!!
Best
-Sardar
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts
-
Comment by Unni on January 9, 2013 at 4:05am -
I see more downside from the current level. if it breaks 3091 level, then I agree with your chart
-
Comment by Elric on January 9, 2013 at 4:09am -
have the same chart counts as yours. reckon to long EU at 1.3062 if it's able to reach there. take note that if it breaks 1.3055 then most probably, bearish will win. anyway, nice count and im in for bullish side at the time being
-
Comment by Sardar Uddin on January 9, 2013 at 5:02am -
Overall it will be a sideway day for EURUSD but I expect first leg to be long
Best
- Sardar
-
Comment by Peter jcp on January 9, 2013 at 11:23am -
Hi Sardar - there seems to be a lot of bears in the forum today - and if we go under 3030 and 3000 they may well be correct ;-)) However at the moment we have not even gone under the 3050/55 support and so the jury is still out as far as I am concerned.
From my scalping perspective - i really need over 3077 and 82 to start looking at holding any scalp buys again . Under 60 and 50 would be more scalp sells to the next supports at 3030/5.
I did not hold a scalp sell from top at 3096 - simply because i had though we would stay above 70 /75. I think we need to see what the US session brings next in the form of clues of whether you may be correct.
Have a good day
Regards
Peter
-
Comment by Sardar Uddin on January 9, 2013 at 12:00pm
-
Yes it seem most of pundits are looking for short but as you mentioned there is some support for EURUSD which make me think more of a sideways move but NY session will certainly decide that.
Right now I am holding tomy guns let see how it goes.
Thanks for your feedback
Best
- Sardar
Comment
© 2013 Created by FXstreet.
You need to be a member of FXstreet.com Forex Social Network to add comments!
Join FXstreet.com Forex Social Network