EUR/USD Strategies on July 29, 2009

09:23 Am ( GMT +7)




Bullish try to came back, EMA 5 already crossing up EMA 20, and I think price action first will be try to break EMA 66 at 1.4203 -1.4211 area. RSI stay hold above 50, once it break 1.4211 I believe price will push more high to 1.4250 and there is more chance price will re test previous day's high at 1.4304. Strong resistant wich is hold bullish momentum is 1.4338

Meanwhile, support that will hold this pair to falling seen on 1.4138 - 1.4130. I already take one position, buy at 1.4186. I will keep following market movement


UPDATE - 01:40 PM (GMT+7)

It's really mess up! I try to play EUR/USD with my style I'm use in GBP/JPY but it's not work at all. I cut it just a fiew minutes ago with 160 pips minus!!!! I'm holding my long position and hoping it goes as my plan, but it's not and when it's turn to more red I'm getting felt so scare to cut it, and that's a big mistake. But now I have to cut it. Here is my fear comes from:

EUR/USD - daily