EUR/USD Analysis 09|12|06 NEW YORK

NEW YORK

Pair Analyzed: EUR/USD
Time Frame Used: 1D
Prevailing Sentiment: Neutral (sideline)
Platform: GFT DealBook 360 (new)
Date of Analysis: 09/12/2006

Trade Execution Ideas:
Execute as a Real position with an entry @ below 1.2699 and absolute exit @ 1.2633. Targets for this trade can be configured @ T1 1.2669, T2 1.2633, T3 1.2608. Stop loss can be configured @ 1.2733. Please keep in mind that stop loss configurations should be executed as money management rules suggest.

Prevailing Signals:
Tenkan-Sen/Kijun-Sen Cross Bear,Senkou Span A/B Cross Bull,Price/Kijun-Sen Cross Bear,Chikou Span/Price Cross Bear

Supporting Technicals:

Chikou Span Support Considerations:
Support Level 1: 1.2699
Support Level 2: 1.2669

Chikou Span Resistance Considerations:
Resistance Level 1: 1.2732
Resistance Level 2: 1.2762

Kumo and Price Relationship:
Price is currently Under prevailing Kumo

Kumo Strength:
Weak

Noteable Support and Resistance Considerations:
Price is at the “twist” of a Kumo on the 1D that may act as an area of resistance for the single pair…

News Provided By:
GFT Forex

[EUR/USD] stands little changed from levels seen at Europe’s exit on Monday and a range bias is certainly preferred near term. 1.2680-1.2740 are the rough boundaries for trade with a slightly bullish feel likely given the normal risks associated to the US trade data, due 12.30GMT. However, some Dollar demand may be in evidence ahead of today’s US 10 year auction with longer dated US issuance fairly well received by foreign parties recently. US 10 year bond yields have edged up to 4.81% from Monday’s levels around 4.77% and market players seem a little less certain about the longevity of the Fed’s pause. Note Fed’s Yellen speaks later in the NA session with Poole Monday seeing inflation too high but under control.

Analyst Notes:
I am yet still a little un-decided on this pair as it has been a little un-eventful before the US Trade data… I have given an execution odea based on the overall 1D sentiment, truh is this pair could go either way.. If your stance is still Bullish start looking for a close above 1.2732….

Chart Study

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