Thread: Intra-day eur/usd outlook

INTRA-DAY EUR/USD OUTLOOK

Despite euro's early brief breach of y'day's low
at 1.2770 to a 15-mth 1.2763 low on market rumours
(see MMN), current recovery suggests consolidation
with mild upside bias wud be seen n abv 1.2799 wud
confirm a temp. low is made n bring gain to 1.2815.
For st trade, remain as cautious buyer n only
below 1.2755 may risk one more fall twd 1.2736.

Range Forecast
1.2770 / 1.2799

Resistance/Support
R: 1.2799/1.2815/1.2858
S: 1.2763/1.2736/1.2710

Rate
1.2777

Position
Long at 1.2775

Strategy/Entry Level
Hold long for st trade

Objective
1.2810

Stop-Loss
1.2755

Last Update At
06 Jan 2012 06:22 GMT

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