EUR/USD: The pair started to increase after a few downtrend oriented sessions. However, a vain breach of the resistance 1.4011 occurred and the pair started to decrease back. AUD/JPY:After several weeks without any specific orientation, the pair finally crossed the support of 80.30 downward.
EUR/USD
Daily graph: http://www.real-forex.com/charts-daily/261010/EUR_DAILY_261010.JPG
The pair started to increase after a few downtrend oriented sessions. However, a vain breach of the resistance 1.4011 occurred and the pair started to decrease back. By the end of the session of the 25-10-2010, the pair was at the lowest point of the reached for this session.
This fact may suggest that the pair will continue to decrease during today’s session, creating an opportunity to go “Short”. In order to confirm this opportunity, it should be better to wait until a decreasing configuration will be identified on a One-Hour graph.
Potential trade
One-Hour graph: http://www.real-forex.com/charts-daily/261010/EUR_1H_261010.JPG
The required configuration will be created once the resistance of 1.3950 crossed. After the cross, we suggest entering the following orders:
· “Limit” order on “Short” position 10 pips below the resistance mentioned previously, meaning: 1.3940.
· “Stop loss” 50 pips above the resistance: 1.3990
· “Take Profit” on the following support appearing on one-hour graph, which is: 1.3893
AUD/JPY
Daily graph: http://www.real-forex.com/charts-daily/261010/AUD_JPY_DAILY_261010.JPG
After several weeks without any specific orientation, the pair finally crossed the support of 80.30 downward. Following 4 bearish sessions, 3 bullish candles occurred but were totally eaten by the previous decreasing candles. This fact in addition to the four decreasing sessions emphasizes the strength of the bears against the bulls.
A vain breach of the new resistance of 80.30 occurred. Eventually, the pair will continue to decrease today and maybe more. In such a case, the next destination will be the following support on the daily graph: 78.67
Have a profitable day!
Real Forex team. 