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[B]Bias:[/B] I look for a low in the 1.0665-89 area and for the uptrend to resume

Friday's deep pullback was encouraging and does seem in line with the structure I was considering. This we should see a dip into the 1.0665-89 area and here look for bullish trade set ups. From this support I shall look for a pullback to 1.0738-53 and then to 1.0800-07 on the way back to Friday's 1.0849 high. Note further resistance at the 1.0897 high before the stronger 1.0953 resistance.

Please view the complete analysis in the attached PDF file.

For a full description of how to use the analysis please see the Analysis page of my website. The prior day's set ups for potential trading levels highlighted in the ...

Attached Files

• The Brief Daily Forecaster.pdf (76.6 KB, 78 次查看)

AUDUSD consolidates in a range between 0.9157 and 0.9381. Lengthier sideways movement in the range is still possible in a couple of days. As long as 0.9157 support holds, we’d expect uptrend to resume, and another rise towards 0.9500 is possible after consolidation. However, a breakdown below 0.9157 support could indicate that the uptrend from 0.8577 (Feb 5 low) has completed at 0.9381 already, then the fallow downtrend could take price back to 0.8500 area.



Daily Forex Analysis

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.3380

Late Update At 26 Apr 2010 02:13 GMT

Despite staging a strg bounce to 1.3398 in Asian morning after initial brief but sharp dip to 1.3317(NZ), failure to penetrate Friday's 1.3400 high suggests minor consolidation is seen b4 nr term rally fm 1.3201 heads to 1.3422 but res 1.3447 shud hold.


Trade fm long side, stop as indicated, break may risk marginal fall but 1.3317 wud remain intact.



Range Forecast
1.3375 / 1.3495


Resistance/Support
R: 1.3400/1.3422/1.3447
S: 1.3360/1.3317/1.3301

http://www.acetraderfx.com

Market Review - 23/04/2010 22:24GMT

Euro rallies on short-covering after Greece announced aid request

The single currency rebounded strongly from one-year low against the buck after Greece announced it will activate a financial aid package while Germany said it is prepared to commit to a plan that will bail out the debt-strapped country whilst the greenback strengthened to a two-week high against the Japanese yen on Friday as U.S. March new-home sales rose the most in almost five decades.

Mounting anxiety that Greece would default on its debt weighed on the single currency in Australia. Short term speculators sold the Euro on concerns that the Group of 20 industrialized and developed nations ...