FXstreet.com

EUR/USD Daily Technical Forex

This report has been deactivated

0

0

EUR/USD Daily Technical Forex

Thu, Jun 12 2008, 08:50 GMT
by Timothy Straiton

Stoploss.ch


Current level at 10:49 CET is 1.5434, trading below the daily pivot point level of 1.5530, having bounced off second support and 1.5397 this morning. Although this currency pair has been stuck in a narrow range for the past six weeks, there are signs of weakness emerging gradually. We have finally managed to break below the daily Ichimoku cloud base at 1.5495 and now need to soon see a follow-through to the downside. Should this not materialize then we should expect a continuation of the range trading within the 1.5350 1.5850 bandspread. The Fibonacci 38.2 percent retracement level of the 1.4311 -1.6017 range comes in at 1.5360 and has stemmed the downside already on three occasions within the past 3 months. The daily MACD oscillator is falling and is below the zero line while daily standard error bands are now poised to the downside. Pivot point related resistance levels for today are to be found at 1.5610 and then 1.5667.

Published on  Thu, Jun 12 2008, 08:51 GMT


Archive

Straiton & Partner  | Bahnhofstrasse 5, Postfach 643, CH-8820 Wädenswil
http://www.stoploss.ch | info@stoploss.ch

Legal disclaimer and risk disclosure

Straiton & Partner, Switzerland, its associates and subsidiaries, its employees, directors, agents, the content Providers and any other parties involved in the creation, production or delivery of trading systems and information on the Stoploss.ch site disclaim any responsibility and shall not, in any event, be liable for any damages, claims, liabilities, costs or obligations including any direct, indirect, punitive, special, incidental or consequential damages, including without limitation, loss of use, loss of data, loss of business profits, loss of opportunity, business interruption, personal injury, or any other pecuniary loss (collectively the "Damages") whatsoever and howsoever caused to the user or suffered by the user, arising out of or in connection with the use or misuse of the site or the information or with any delay or inability by the user to use the site or the information, whether any such damages arise in contract, tort, strict liability, negligence, equity or statute law or by way of any other legal theory, even if Straiton & Partner, Switzerland has been advised of the possibility of damages. Straiton & Partner, Switzerland disclaims any liability for unauthorized use or reproduction of any portion of the stoploss.ch site. If you happen to have any questions or concerns, please contact us.


Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account		CitiFX Pro
Contact the broker/FDM
Open a demo account		Capital Market Services, L.L.C.
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.