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Currency Technical Report

Tue, Mar 10 2009, 11:24 GMT
by George Antonakos

FXGreece  |  View company's profile


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EUR/USD

Resistance: 1,2715-20/1,2760/ 1,2810-20/ 1,2860/ 1,2920/ 1,2980
Support : 1,2650/ 1,2590-00/ 1,2550-60/ 1,2480/ 1,2450/ 1,2400

EUR/USD

Comment:
Euro remains “trapped” within a tight price range, as uncertainty dominates in the market…Important intraday resistance is found at 1,2780-00 and 1,2880-00 area, while support emerges at 1,2580-2610 and 1,2520-30.
Next target on the upside is 1,3000-50 area, which is the reversal range of the basic downtrend, while downwards our target will be at 1,2350-00.

EUR/USD

*STRATEGY:
Our strategy remains the same. We try small positions at the ranges with tight stops…

*The above mentioned strategy refers to orders that we may follow for personal accounts, depending on the market analysis and the potential reach of resistance and support levels. We do not encourage buy or sell orders, as its effective use is based on correct risk management and the ability of position readjustment depending on current conditions.


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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.
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