Technical Analysis - 18 July 2008 EUR/USD 1.5853 - 21 July
EUR/USD Open 1.5932 High 1.5887 Low 1.5787 Close 1.5852
The Euro retrieved significantly yesterday against the US Dollar from Thursday's top 1.5887 to a the bottom 1.5787, which are the first
resistance and support levels respectively for the currency couple today. Today the Euro is recovering again. If the positive trend
continues, next resistance is expected at 1.6040, followed by 1.6120. In downward direction next support for today is expected at 1.5720,
the break of which would lead to next target 1.5650.
Technical resistance levels: 1.5885 1.6040 1.6120
Technical support levels: 1.5785 1.5720 1.5650
Trading range: 1.5840 - 1.5905
Trend: Upward
Buy at 1.5853 SL 1.5823 TP 1.5893
Yesterday we made +21 pips profit on EUR/USD from the following signal:
6:00 GMT+1 Buy EUR/USD at 1.5855 SL 1.5829 TP 1.5905 exited 8:31 GMT+1
Total yesterday +138, as shown in details
GBP/USD 1.9908 - 18 July
GBP/USD Open 1.9884 High 2.0069 Low 1.9908 Close 2.0041The British Pound continued its correction yesterday against the US Dollar from Thursday's top 2.0069 to today's bottom 1.9908, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.9840, followed by 1.9770. In upward direction next resistance for today is expected at 2.0150, the break of which would lead to next target 2.0240.Technical resistance levels: 2.0070 2.0150 2.0240Technical support levels: 1.9910 1.9840 1.9770
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