$EURUSD levels for Asia

kevinmhughes
January 5th, 2010

kevinmhughes

Today was a nice trading day for the USD during the NY trading session. The USD strengthened very nicely and it seems like the momentum may continue into the January 5th Asian trading session.

Currently, the EURUSD pair (chart below) is forming a bear flag on the 30 min chart as well as sitting right in the middle of two Fibonacci levels (50% & 38.2%)… I believe the EURUSD will continue it’s down trend well into and through the Asian trading session. It may try to correct itself during the London session, but we’ll take a look at that after Asia is well under way.

Have a good evening!

Kevin M. Hughes is the President of K.M. Hughes & Associates, Inc. which is a currency trading firm based in Charlotte, NC; if you would like to find out more about K.M. Hughes & Associates, Inc, please visit www.hughesincorporated.com

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tickers: $EUR, $EURUSD, $USD

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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more)

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$EURUSD levels for Asia

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