Thursday, December 10, 2009

EURUSD -CAUTION



Hello everyone,

Its been a very terrible market - talking about EURUSD since my last post and i am going to explain some other facts, which MAY be a reason for the terrible indicisions in the market.

The EURUSD is around a very strong support zone as you can see on my 1hr CCI100 (filtered 100sma) and that is my major trend in the 1hr timeframe and also i can see BIG resistant on the DAILY timeframe as you can also see on the Daily timeframe. I know the daily timeframe shows a major resistant zone which obviouly the market find very difficult to break today as at 5:05 GMT+1. Its good to keep the LONG with the stoploss in place or avoid the market completely until a better and friendly price action come in place. Because my CCI is still BULLISH i will buy more confirmed DIPS for few pips.

Will welcome more comments.

Have a good day!

James

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