Forex: EUR/USD: Euro bounces at 1.3975 to test 1.4050
Thu, Jun 11 2009, 09:32 GMT
http://www.fxstreet.com
Related News
FXstreet.com (Barcelona) - The Euro has gathered strength after ECB's Monthly Economic Buklletin, and the pair has bounced at levels around 1.3975 to attempt another test to 1.4050 resistance level.
In case of breaking above 1.4050, next resistance level might come at 1.4090 and then 1.4145 (Jun 9 high). On the dwnside, support levels lie at 1.3965/75 intra-day low and below there, 1.3915 (Jun 910 low) and 1.3900.
According to Rajoo C, technical analyst at Precise Trader, Euro rally woiuld not reach much higher than 1.4100: "We believe the price might have some pullback after previous day drop. The patterns are not clear but suggesting that bears must ensure that the price should not go above 14110-14140 level and 13955 must give way for lower lows. We prefer to Short Cautiously if 14110 is seen or strictly trade only at our levels."

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Related News
ForexLive US wrap-up: Fine fix for month-end
Forex Live | Fri, Jul 30 2010, 20:12 GMT
Forex: EUR/USD posts first monthly gain since November of 2009
FXstreet.com | Fri, Jul 30 2010, 19:43 GMT
Forex: Dollar down on the day, but against Euro
FXstreet.com | Fri, Jul 30 2010, 17:06 GMT
Forex: USD/JPY back down on Yen strength
FXstreet.com | Fri, Jul 30 2010, 16:38 GMT
Forex: EUR/USD extends recovery above 1.3050
FXstreet.com | Fri, Jul 30 2010, 16:14 GMT
Related Content
Technical Research - Comprehensive FX and Futures Daily Commentary by FastBrokersFX
Fri, Jul 30 2010, 20:31 GMT
Weekly Economic Letter - Economic Indicators Review by National Bank of Canada
Fri, Jul 30 2010, 19:48 GMT
Weekly Economic and Financial Commentary - The Second Quarter Ended on a Soft Note by Wells Fargo Investments, LLC
Fri, Jul 30 2010, 18:36 GMT
Fundamental Weekly Report - Mixed data slows market enthusiasm by TrifFX
Fri, Jul 30 2010, 18:26 GMT
Daily Technical Update - EUR/USD Nears Last Resistance Zone for Bearish Outlook by CMS Forex
Fri, Jul 30 2010, 17:48 GMT













