Forex Guide for 09-Oct-2012

Below is your guide to forex trading for today using technical analysis with various useful indicators.

1. EURUSD: It is trading around its weekly pivot level of 1.2969. Take only long position above this level. 1.29951-1.29961 is the resistance level. Immediate target on upside is 1.30239.

On the downside, if it closes below 1.2969, avoid taking long positions then. Instead, take only short position. 1.2950 will be support level.

2. EURAUD: It should take support around 1.2659. If it closes below this level, take short position.

3. AUDUSD: From the last few trading sessions, it is trading below its weekly pivot points; currently at 1.0246. Take long position only when it closes above this point. Below this level, don’t miss any short call.

4. EURGBP: It is in bullish mode. 0.80728 is the immediate support level. Weekly pivot point is at 0.8033. Don’t miss any long position above this level.

5. USDJPY: It has broken support level of 78.43. Now, take only short position. However, if it closes above 78.43, take only long position.