FXstreet.com

0

0

Currency Technical Report

Tue, Jul 29 2008, 10:01 GMT
by George Antonakos

FXGreece


EUR/USD
 
Resistance : 1,5740/ 1,1,5765-70/ 1,5800-10/ 1,5850-60
Support : 1,5670-80/ 1,5630-40/ 1,5600/ 1,5570/ 1,5520

Comment : The outlook remains the same and so does our scenario.
According to current signs, the resumption of the rise until 1,5800-20 or even 1,5900 is more possible than a decline.



TRADING EUR/USD
SWING TRADING : The scenario remains the same "The move towards 1,5620-30 gave us buy opportunities leading us to our basic target at 1,5790-5810. Depending on the strength of the move, we may keep our positions for higher levels. A possible pullback above 1,5850 until 1,5920 area, will be used for sell positions with target at a retracement to the base of 1,5620-5650..."
INTRADAY TRADING : We will try buy positions at the retracements in 1,5700-10 and 1,5680 area, with stops below 1,5650. Buy positions could be tried at a possible break of 1,5770, with target at 1,5810-20 area. At the area of 1,5810-20 sell positions could emerge, adding more at 1,5850. Our target will be the area of 1,5760, while stops could be set above 1,5880...




GBP/USD


Resistance : 1,9930/ 1,9970/ 2,0020/ 2,0050
Support : 1,9900/ 1,98501,9830-40/ 1,9790-00/ 1,9750/ 1,9700

Comment : The pound formed a reaction until 1,9960-70, levels where bears gained momentum, as expected. Even though the move could not breach the area of 1,9900, the pound is will possibly follow the same scenario and reactions should be limited at 2,0030-50 area.

TRADING GBP/USD : We will try sell positions in the reactions towards 1,9960-70 and 2,0020-30 with stops above 2,0050 and targets at 1,9900 area...






USD/JPY



USD/CHF



Published on  Tue, Jul 29 2008, 10:04 GMT


Archive

FXGreece  | 98 Vouliagmenis Ave. Glyfada Athens
http://www.fxgreece.gr/ | trading@fxgreece.gr

Legal disclaimer and risk disclosure

  1. The details and information included in the provided analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
  2. We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
  3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
  4. We reserve the right to change the terms and the characteristics of the analysis.
  5. The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.


Interested in forex trading? forex brokerage firms!


MF Global UK Limited
Contact the broker/FDM
Open a demo account		Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
Ikon GM - Royal Division
Contact the broker/FDM
Open a demo account		Alpari (UK) Limited
Contact the broker/FDM
Open a demo account		FXDD
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

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.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, 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.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.