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Technicals

EUR/USD Technical Analysis 18 July 2008

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18 July 2008 @ 01:36 am EST
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EUR/USD 1.5853 - 18 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 at www.zifx.com/performance.php

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