EUR/USD Strategies on July 10, 2009

08:08 AM (GMT + 7 )

EUR/USD - TF 30 mnt
Funny, I thought today is saturday last night, how I can I forget? never mind. This is friday, and always interesting to trade in friday. O.K, here is my quote in Asian session:
EUR/USD in 30 mnt chart shows that bullish failed to hold indicated by RSI fall bellow 50,EMA 5 already crossing down EMA 20 now price action seems like try to push EMA 66 (1.3972 area). And if break and steady, price action possibility will push lower to 1.3963 as nearest support for now, before continue to 1.3938 ( note: if momentum hold below and steady). Resistant already formed in area 1.4032 indicated by Parabolic SAR, if break big chance to re test last night Hi at 1.4072 as a main resistant for intradays. But, I'm still prefer today is bullish as long as price steady above EMA 66, and level to watch is 1.3963 - 1.3938




EUR/USD - TF 15 mnt
From this chart,price seems like try to bounce up, and price action moved around EMA 66, once it steady below it will goes down, but meanwhile now it's shows that price try to gain momentum up. In my opinion it will try to go to 1.4010 -1.4017. I decided to set Sell Limit at 1.4010, SL at 1.4040 and target at 1.3980. I will keep on eye till next several hours and I will decided next action latter


UPDATE : 07:53 PM ( GMT + 7)

My Pending order not executed, now I'm canceling my sell limit, and switch it in to buy at the market price a fiew minuetes ago, I've got price at : 1.3920, my decision based on this:

EUR/USD - TF 30 mnt:
Downward movement getting weak, RSI getting make un upward movement, Suport already made by Parabolic SAR, from candle patern indicated forming bullish but there is still possibility downward to re test it low, if it's happen big chance price will lower to 1.3857. But if the low not break, I believe it will turn to bullish now




EUR/USD - TF 15 mnt:
Same things with TF 30 mnt, nearest support is it low today, and strong one seems like hold it fall at 1.3857. I've already take one position, buy at 1.3920, SL at 1.3850 with open target ( I will place it latter, meanwhile I will keep watching it.