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Currency Technical Report
Tue, Jul 7 2009, 11:10 GMT
by George Antonakos
FXGreece | View company's profile
EUR/USD
Resistance: 1,3980-00 / 1,4015-30 / 1,4080-00 / 1,4130-50
Support : 1,3940-50 / 1,3880-00 / 1,3830-40 / 1,3780-00 / 1,3730-50 
Comment: Yesterday was a neutral day for euro as it remained close to 1.4000, after reaching the support area of 1.3890-00 within the day.
The price remains between 1,3900 and1,4000 area and we will wait for the exit of this sideways formation for further signs. An upward break of 1,4000-30, could lead to 1,4080-00 or even 1,4130-50 area.
However, if resistance at 1,4000 is confirmed again, a retracement towards 1,3930-50 or even at yesterday’s lows at 1,3870-90.
*STRATEGY:
Sell orders could be tried at 1,3990-00, after a reversal sign and target at 1,3940-50 or even 1,3900-20. Stops should be set above 1,4040. Alternatively, we will follow an upward break of 1,4050 with buy orders and target at 1,4090-00.
*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, Jul 7 2009, 11:12 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.
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