FXstreet.com

1

0

Currency Technical Report

Mon, Jun 29 2009, 11:55 GMT
by George Antonakos

FXGreece


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

EUR/USD

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…

EUR/USD

*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

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.

Related reports

FX View - Headline unemployment rate creates dollar shocker by Interactive Brokers LLC
Fri, Nov 6 2009, 18:41 GMT

Forex Daily Overview - USD mixed, unemployment rises to 10.2% by Easy Forex
Fri, Nov 6 2009, 18:31 GMT

Forex Daily Analysis - USDJPY is moving towards support level at 89.55 by Investija.com
Fri, Nov 6 2009, 14:35 GMT

Forex Technical Report - U.S. Markets Brace for Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:29 GMT

Forex Technical Report - Dollar Trading Lower Ahead of U.S. Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:19 GMT

eurusd

View All

Related content


Interested in forex trading? forex brokerage firms!


Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
FXDD
Contact the broker/FDM
Open a demo account		Forex Club Financial Company
Contact the broker/FDM
Open a demo account		IG Markets
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

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.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.