Tuesday, March 9, 2010

EUR/USD Daily Market Report 10032010

Last sessions market continue to sell around EMA21 and red trend daily chart.

Below 1.3720 and must important below 1.3838 (1.ª resistance daily chart) Trend bearish all time frames, still waiting risk of calling 1.3250 possible extension 1.2850. .

Indicators short-term oversold? This pair are not oversold conditions. Rsi near 50 and stochastic around 60.

Resistance 1.3653, 1.3683, 1.3720,1.3838 and 1.4016

Sideways can be possible next sessions, but watch the 1.3520 level (daily chart) and if the pair close below that expect more losses risk of calling 1.3250 fast.

Short-term only with a close daily above 1.3720 can expect test 1.3838.

Click to zoom in.Good luck...