EUR/USD: For the last few weeks, the pair had a clear and strong uptrend. A few sessions ago, a very important resistance at 1.4031 stopped it.
NZD/USD: A very sharp and clear uptrend started about 8 weeks ago. The potential stopping point can appear only on a weekly graph.
EUR/USD
Daily graph: http://www.real-forex.com/charts-daily/121010/EUR_DAILY_121010.JPG
One – hour graph: http://www.real-forex.com/charts-daily/121010/EUR_1H_121010.JPG
For the last few weeks, the pair had a clear and strong uptrend. A few sessions ago, a very important resistance at 1.4031 stopped it. The following session was quite anemic, but the last session showed a clear downtrend.
The uncorrected uptrend in addition to the important resistance opposed to the pair may suggest a reversing trend which will partially correct the intensive uptrend occurred during the last weeks, creating an opportunity to make a profitable “Short”.
Potential trade
We suggest looking for a decreasing configuration on one-hour graph. Such a configuration should appear once the support level 1.3866 will be crossed downward. If the configuration required is identified, we suggest to enter the following orders:
· “Limit” order on “Short” position 10 pips below the support level noticed earlier, meaning: 1.3856.
· “Stop loss” order on the last high occurred: 1.3901
NZD/USD
Weekly graph: http://www.real-forex.com/charts-daily/121010/NZD_WEEKLY_121010.JPG
A very sharp and clear uptrend started about 8 weeks ago. The potential stopping point can appear only on a weekly graph.
We are currently about 120 pips below an important resistance at 0.7642. We anticipate a reversing trend which may correct the uptrend occurred during the last period. This correction may create an opportunity for a nice “Short”.
A daily reversal candle on the resistance could be a clear sign for a reversal. If this candle appears, an opportunity for a nice “Short” will be created.
Have a profitable day!
Real forex team 