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Technicals

EUR/USD Technical Analysis 25 July 2008

25 Jul, 2008 @ 01:38 am EST
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EUR/USD 1.5693 - 25 July

EUR/USD Open 1.5842 High 1.5712 Low 1.5634 Close 1.5687

The Euro continued descending yesterday against the US Dollar Tuesday Thursday's top 1.5712 to the bottom 1.5634, which are the first resistance and support levels respectively for the currency couple today. Today however the EUR/USD has a positive sentiment and we may see some recovery efforts. If the positive trend continues, next resistance is expected at 1.5800, followed by 1.5865. In downward direction next support for today is expected at 1.5580, the break of which would lead to next target 1.5530.

Technical resistance levels: 1.5715 1.5800 1.5865

Technical support levels: 1.5635 1.5580 1.5530

Trading range: 1.5680 - 1.5655

Trend: Upward

Buy at 1.5693 SL 1.5663 TP 1.5733

Yesterday we made +50 pips profit on EUR/USD from the following signal:

6:01 GMT+1 Sell EUR/USD at 1.5700 SL 1.5726 TP 1.5650 TP reached 9:18 GMT+1

Total yesterday +147, as shown at www.zifx.com/performance.php

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