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Technicals

EUR/USD Technical Analysis 7 July 2008

07 Jul, 2008 @ 01:40 am EST
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EUR/USD 1.5652 - 7 July

EUR/USD Open 1.5701 High 1.5725 Low 1.5631 Close 1.5697

The Euro continued dropping insignificantly against the US Dollar from Friday's top 1.5725 to today's bottom 1.5631, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5560, followed by 1.5885. In upward direction next resistance for today is expected at 1.5800, the break of which would lead to next target 1.5885.

Technical resistance levels: 1.5725 1.5800 1.5885

Technical support levels: 1.5630 1.5560 1.5500

Trading range: 1.5665 - 1.5600

Trend: Downward

Sell at 1.5652 SL 1.5682 TP 1.5612

On Friday we made +8 pips profit on EUR/USD from the following signal:

6:02 GMT+1 Buy EUR/USD at 1.5716 SL 1.5690 TP 1.5766 exited 7:19 GMT+1

Total on Friday +55, as shown at www.zifx.com/performance.php

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