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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, August 22, 2010

EUROS/USD-------Heading below 1.2000 soon ??

EURO/USD  drifted below its critical trend line and resistance supports near 1.2730  last week. Structurally, this currency PAIR  shall now regain its Bearish momentum and to retest its recent lows near term.  Please refer to my last week's postings on both the Fundamental and Technical Analysis on EURO/USD.



E/U DAILY  CHART 


E/U WEEKLY CHART


Technical Analysis/ Trading Strategy

On the Daily Chart, the imminent weakness of Euros shall send down this currency pair below 1.2600 (38.2% Fibo ) and the Ichimoku's cloud top support /resistance.

1.2423 is the next support (23.6% Fibo) ,which is also  near the Ichimoku Strong support(Cloud Bottom) on Daily chart..

Technically , this currency pair is extremely bearish, and the possibility of retesting its recent low below 1.2000 cannot be discarded near term..
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