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Currency Technical Report
Thu, Jul 2 2009, 10:33 GMT
by George Antonakos
EUR/USD
Resistance: 1.4130-50 / 1.4180-00 / 1.4230-50/ 1.4350-80
Support :1.4080-00 / 1.4030-50 / 1.4000-15 / 1.3950-80
Comment: Euro rose yesterday, breaching resistance at 1,4130-50 and formed a top at 1,4200. The sideways formation is still valid and we need a daily close and a clear break of 1,4150-00 in order to confirm an uptrend.
Until that happens, we will be skeptical regarding the rise resumption as resistance at the upper part of the sideways formation is being tested.
Important intraday support should be found at 1,4045-60 and 1,4000. A downward break will cancel all upward expectations and lead to 1,3900 or even 1,3750-00 area, which is the base of the formation.
On the upside, next important resistance emerges at 1,4230-50, followed by 1,4340…
*STRATEGY: We remain bearish, trying sell orders at the reactions towards previous tops and stops above 1,4200. We keep our positions small due to important announcements that are due to release today…
*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 Thu, Jul 2 2009, 10:37 GMT
Archive
- Currency Technical Report
Published On Thu, Nov 5 2009, 12:52 GMT - Currency Technical Report
Published On Mon, Nov 2 2009, 12:37 GMT - Currency Technical Report
Published On Fri, Oct 30 2009, 11:20 GMT - Currency Technical Report
Published On Mon, Oct 26 2009, 11:32 GMT - Currency Technical Report
Published On Fri, Oct 23 2009, 11:35 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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