January 13, 2011

US DOLLAR Near Support EURUSD Near Resistance

EURUSD DAILY CHART
US DOLLAR DAILY CHART
  • US Dollar is trading near its important support level of 79.025 in daily chart.
  • EURUSD pair is approaching its resistance zone of 1.3421 to 1.3497 in daily chart.
  • US Dollar breaking below 79.025 can give good direction for EURUSD pair in the short term.
  • SILVER BEARISH ENGULFING

5 comments:

  1. Dear San,
    Frankly speaking,still I could not under stand the Dollar,whether it is good or bad if it will fall below that imp.support line i.e. 79 ? Please clarify at your leisure.Thanks in advance.

    ReplyDelete
  2. Hi Mynac
    I don't see much correlation these days with nifty and other markets. While nifty has been going down U.S markets are showing strength.

    My understanding or this is what i feel about the FII selling is that nifty is acting as a leading indicator to the world. We may see the U.S markets go down in the near future and then we will fall more with the rest of the world.

    ReplyDelete
  3. @San

    Dear San,
    One of my friends has the same view as said above.Even the highest CE writing at the end was concentrated at 5600 when Nifty is its near 200 DMA and at present well above 5600.So let us see.

    ReplyDelete
  4. @San

    And thanks for your views too.
    Have a happy festive season and weekend.
    Bye.

    ReplyDelete
  5. Thanks mynac
    Happy weekend to you

    ReplyDelete