Wednesday, January 25, 2012

currency update

EUR/USD:

Long EUR/USD entered at 1.2960 is stopped at 1.3010. Now, resistance at 1.3050 looks strong for reversal into 1.2950-1.2850. Look to sell at 1.3050-1.3075 with tight stop for 1.2950. Also, look to buy 1.2950-1.2925 with stop below 1.2900 for 1.3050-1.3100.

USD/JPY:

Buy 77.50-77.25 with stop below 77.00 for 78.25 and sell 78.25-78.50 with stop above 78.75

Moses Harding

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