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Currency Technical Report
Fri, Apr 3 2009, 12:00 GMT
by George Antonakos
FXGreece | View company's profile
EUR/USD
Resistance: 1,3450/ 1,3480/ 1,3510-20/ 1,3550/ 1,3580/ 1,3610-20/ 1,3680
Support : 1,3400/ 1,3370/ 1,3330-40/ 1,3290/ 1,3240-50/ 1,3200/ 1,3170/ 1,3120
Comment: Euro’s move yesterday above 1,3340 area, before the interest rate announcement, had given the first signs for the move resumption towards our target at του 1,3480-00 area. Important technical support emerges at 1,3500 as it is clear in the short term charts below. An upward move, would bring the area of 1,3600 or even the tops of 1,3750-00 back into focus.
A decline resumption from 1,3500 area, would have as next target the area of 1,3330-40, which is now turned into a support. A downward break indicates that yesterday’s rise was just a reaction and a retracement towards 1,3200 area would be our next target.
We should keep in mind that Non Farm Payrolls are announced today and high volatility is expected… 
*STRATEGY:
The market is moving in tight ranges until the NFP announcement. Sell orders could be tried at 1,3500-20 with stops above 1,3550 and buy orders at 1,3330-40 with stops below 1,3300. Next ranges at 1,3580-00 and 1,3250.
*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
Published on Fri, Apr 3 2009, 12:07 GMT
Archive
- Currency Technical Report
Published On Mon, Mar 15 2010, 11:20 GMT - Currency Technical Report
Published On Mon, Mar 8 2010, 11:58 GMT - Currency Technical Report
Published On Thu, Feb 25 2010, 10:55 GMT - Currency Technical Report
Published On Thu, Feb 18 2010, 10:21 GMT - Currency Technical Report
Published On Mon, Feb 8 2010, 11:29 GMT
Legal disclaimer and risk disclosure
- 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.
- 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.
- 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.
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