EUR/USD Intraday Trading Report February 09, 2012


Update 1 (02:28 GMT): The price has not moved much; but then the Asian session has started just a couple of hours back. 1.3180 may prove to be a support and 1.3300 the resistance.

Update 2 (06:16 GMT): The price has touched and crossed 1.3300. Now, either of the two things can happen (a) it can fall back to 1.3180 or (b) start moving towards 1.3420 with greater vigor. Take positions accordingly. As it has been happening since the past few months,  the direction is basically decided based on the rumor news flow.

Update 3 (12:00 GMT): The price has reversed off the 1.3300 level. Immediate support level is the 10-day MA located at 1.3182. Let us see how the rest of the session is going to play out.

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