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INTRADAY TRADING SIGNAL BY ACETRADER.COM

EUR/USD : 1.2491

Last Update At 04 Mar 2009 04:20 GMT

Although euro has edged higher after early
anticipated selloff to 1.2457, as the breach of
1.2513 (now res) confirms decline fm 1.4720 has
resumed, further weakness to 1.2454 n then 1.2423
is seen after minor consolidation.

Sell again on pullback, stop as indicated, break
signals temp. low is made but 1.2597 res wud hold..

Range Forecast
1.2480 / 1.2513

Resistance/Support
R: 1.2513/1.2548/1.2597
S: 1.2454/1.2423/1.2400

http://www.acetraderfx.com

[B]Bias: [/B]Just a bit mixed but by the end of the day I feel we should see losses

I do feel with the hourly & 4-hour bearish divergences that we shall see a correction lower before long. However, this may well mean we shall see one more new high before that occurs. If a break above 1.2974 should provide a selling opportunity around 1.3015-32 so watch for a reversal pattern there. Only an earlier break below 1.2870 would undermine the bullishness and risk direct losses back to 1.2805-24 at least. Again breach here is needed to trigger stronger follow-through for 1.2752-81 at least...

For full analysis please open today's full report in PDF format.

For a full description of how to use the analysis ...

Attached Files

• The Brief Daily Forecaster.pdf (67.4 KB, 101 次查看)

Intra-day trading signal by AceTrader

USD/JPY OUTLOOK +98.28+

Last Update At 04 Mar 2009 00:28 GMT

Y'day's cross-inspired rally to 98.60 suggests
correction fm 98.72 has ended earlier at 96.85 n
as long as 97.90 holds, intra-day upside bias
remains, however, a breach of said res is needed to
confirm recent rise has resumed n extend to 90.00.

Buy on dips with stop as indicated, break wud
prolong choppy trading n risk 97.55...

Range Forecast
+98.05 / 98.45+

Resistance/Support
R: 98.72 / 99.00 / 99.48
S: 97.90 / 97.55 / 96.85

Our 2008 trading performance summary:
http://www.acetraderfx.com/eng/perfo...erform2008.asp

EURUSD breaks below 1.2512 previous low support, suggesting that the short term downtrend from 1.2898 is underway. Deeper decline is expected to 1.2400 zone in a couple of day. Near term resistance is at the upper border of the falling price channel and key resistance is located at 1.2677, as long as this level holds, we’d expect downtrend from 1.2898 to continue, only rise above 1.2677 level will indicate that a short term cycle bottom has been formed and the fall from 1.2898 has completed.



Daily Forex Analysis