Over all market sentiment is bearish.
DJ and S&P are at crucial levels.
I will take a slow start this week and see how things turn out by middle of the week. We have very busy calender for the week.
EUR/USD:
Broke a very important psychological level of 1.2
I am still bearish on the pair but with caution.
1.16 - 1.14 is the fair value price for the EUR under the current circumstances.
1.2143/47 is the resistance level I am watching.
WEEK OPEN 1.1927 above that short term bulls will take profits and below that bears might push the pair further.
GBP/USD
1.4768 level has been tested on the weekly chart.
Pair over all is looking to make lower lows.
Note: Pound is always a good buy on the big dips.
Dollar Index
The index broke a key resistance level on the weekly chart 87.45.
Now targeting 89.63.
Have a great week of trading.
No comments:
Post a Comment