9 Feb 2015

MAJORS UPDATE 09.02.2015


The rate is currently stuck in a range as traders are waiting any headlines regarding Greece.

A break below 1.1260 should take the rate lower to test the yearly low at 1.1097 and possibly the major psychological support at 1.1000

An upside break above 1.1500 would open up away higher up to 1.1750.


The rate rebounded from the important resistance at 1.5320 on friday indicating it's ready to continue trading lower and most likely is heading down to test the current range support at 1.5000.

Only a daily close above the last week's high at 1.5350 would invalidate my immediate bearish bias.


After breaking it's tight range on friday the rate shot up to test the larger triangle resistance around 119.00.

It is currently rebounding lower and may head down to test the short term rising trendline around 117.60 and further down for the larger triangle support around 116.00.

A break above the friday's high at 119.20 would invalidate my immediate bearish bias as the rate would probably climb higher to test the yearly highs at 120.80.


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