Choppy day for EURUSD 13 July 2009

Posted by Siwei at 11:50 AM Monday, July 13, 2009

Dear all,

expecting a choppy day for EURUSD as the price action does not indicate that sellers' strength and momentum is increasing. Sellers might have more difficulty trading below the multiple support levels below 1.3900 such as the 1.3880, 1.3865 and 1.3850 support levels.

If selling strength is weak, we might see an inside day with an upclose where buying strength can push EURUSD to a potential high of 1.4015 today. Take caution when entering a trade and when there is strong entry criteria.

Regards,
Siwei.

General Disclaimer: These pages contain information about the services of MMTTA. The material is provided for informational purposes only without regard to any particular user's investment objectives, financial situation, or means. Hence, no information contained herein is to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. MMTTA does not guarantee the accuracy or completeness of any information or analysis supplied. MMTTA shall not be liable to any customer or third person for the accuracy of the information or any market quotations supplied through this service to a customer, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service. MMTTA accepts no responsibility or liability for the contents of any other site, whether linked to this site or not, or any consequences from your acting upon the contents of another site. Opening this website shall not render the user a customer of MMTTA nor shall MMTTA owe such users any duties or responsibilities as a result thereof.

Tags