DAILY EUR/USD TECHNICAL OUTLOOKLast Update At 28 Jul 2015 00:34GMT
Trend Daily Chart
Sideways
Daily Indicators
Turnin up
21 HR EMA
1.1073
55 HR EMA
1.1028
Trend Hourly Chart
Up
Hourly Indicators
Turning down
13 HR RSI
66
14 HR DMI
+ve
Daily Analysis
Consolidation b4 marginal rise
Resistance
1.1216 - Jul 10 high
1.1186 - 1.236 ext. of 1.0808-1.1019 fm 1.0925
1.1129 - Y'day's high
Support
1.1050 - Y'day's hourly sup
1.1019 - Last Thur's high, now sup
1.0925 - Last Fri's low
. EUR/USD - 1.1093... Euro found renewed buying at 1.0969 in Aust. on Mon n intra-day gain gathered momentum at European open after tripping stops abv 1.1019, price rallied to 1.1114 b4 retreating to 1.1050 in NY n then rose to 1.1129.
. On the daily chart, despite last Mon's brief breach of 1.0819 sup (May's low) to 1.0808, subsequent rebound n then y'day's rally to 1.1129 suggests the erratic fall fm 1.1467 (May high) made a low there n choppy consolidation inside recent established broad range of 1.1467-1.0808 wud continue with upside bias, abv 1.1138 (50% r of 1.1467-1.0808) wud extend gain twd res at 1.1216, a daily close abv there is needed to retain bullishness n yield stronger gain to 1.1279. On the downside, below 1.0925 (last Fri's low) wud signal recovery fm 1.0808 is over n weakness twd said Jul's low would be seen, below would extend decline fm 1.1467 to next minor daily chart sup/obj. at 1.0785, then daily chart obj. at 1.0660 later next month.
. Today, as euro remains in near term uptrending mode, buying on dips to indicated upside target is favoured, however, reckon 1.1216 would remain intact. Below 1.1019 anytime signals a temp. top is made n risks weakness twd 1.0969.
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