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Currency Technical Report
Tue, Apr 14 2009, 11:06 GMT
by George Antonakos
FXGreece | View company's profile
EUR/USD
Resistance: 1,3350-60/ 1,3390/ 1,3420/ 1,3470/ 1,3520
Support : 1,3300/ 1,3250/ 1,3215-30/ 1,3165-70/ 1,3115-20/ 1,3070-80/ 1,3020/ 1,2980/ 1,2900
Comment: Euro traded yesterday within low liquidity conditions, and formed an sharp move towards 1,3400 area.
The area of 1,3100 was confirmed as a strong support level, while a break could have led to 1,2500-2600 area.
The consolidation scenario between 1,3100 and 1,3550-00(within Bollinger Bands in the daily chart) is back into focus after the upward reaction.
Intraday resistance emerges at 1,3380-00 and 1,3470-90, where the trend line that links previous tops is found (clear in all charts). An upward break could have the area of 1,3600 as next possible target..
Yesterday’s upward move within low liquidity conditions, allows a retracement to 1,3240 area, which is the most important support level today. The area of 1,3290-3300 should be tested in case of a retracement, while the upward scenario will be still valid until 1,3200 area. 
*STRATEGY :
The short term trend is bullish and we will follow it with buy orders at 1,3240-60, and stops below 1,3200 and target at 1,3400.
Sell orders could be tried at 1,3400-20 with stops above 1,3460 and target at 1,3300…
*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 Tue, Apr 14 2009, 11:10 GMT
FXGreece
| 98 Vouliagmenis Ave. Glyfada Athens
http://www.fxgreece.gr/ | trading@fxgreece.gr
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.
- We reserve the right to change the terms and the characteristics of the analysis.
- 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.
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