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Currency Technical Report
Mon, Jun 29 2009, 11:55 GMT
by George Antonakos
EUR/USD
Resistance: 1,4000-15/ 1,4050-60/ 1,4100/ 1,4135-40/ 1,4180/ 1,4200/ 1,4235-45
Support : 1,3940/ 1,3890-00/ 1,3850/ 1,3820-25/ 1,3800/ 1,3750
Comment: The move within the sideways formation continues and Friday euro reached the area of 1,4100-30 and then moved downwards again.
There is nothing new to add technically to last week’s analysis. The area of 1,4130-50 upwards and the area of 1,3800-30 downwards, set the ranges for the sideways formation. A move out of the ranges would indicate that a new trend is being formed and 1.4340 tops are likely to be tested again. Accordingly, a move below 1,3800 would have as minimum target the area of 1,3600-30 and lower.
High volatility is expected this week due to the busy economic calendar, with more important the ECB rate decision and NFP on Thursday… 
*STRATEGY :
We will try sell orders again at 1,4120-40 with stops above 1,4200 and target at 1,3900.
Buy orders could be tried again at 1,3870-80 and 1,3830-40 with stops below 1,3800…
*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 Mon, Jun 29 2009, 12:05 GMT
Archive
- Currency Technical Report
Published On Thu, Nov 19 2009, 12:23 GMT - Currency Technical Report
Published On Wed, Nov 18 2009, 13:36 GMT - Currency Technical Report
Published On Mon, Nov 9 2009, 11:37 GMT - Currency Technical Report
Published On Thu, Nov 5 2009, 12:52 GMT - Currency Technical Report
Published On Mon, Nov 2 2009, 12:37 GMT
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- 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.
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