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EURUSD Found a Good Demand
Mon, Jul 6 2009, 23:45 GMT
by Mohamed I El Shall
4XTechnicales.com
Yesterday,
the pair of currency had found a good demand forces, at 1.3883 had bounced the
pair back up again. We expect the pair to keep on moving higher as long as it
stays above this level.
We
recommend a buy from 1.3927 with a stop loss at 1.3820 and a target at 1.4050.
For the following reasons
-
Hammer bullish reversal formation with a low at 1.3883.
-
Bullish divergence formed on the price bottoms and OsMA.
-
Overbought on Stochastic indicator on four hours time
frame.
Supports
1.3927 –
1.3883 – 1.3824
Resistances
1.4011 –
1.4065 – 1.4124

Published on
Mon, Jul 6 2009, 23:50 GMT
Archive
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- EURUSD Found a Good Demand
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