EUR/USD Technical Analysis 3 July 2009

03 July 2009 @ 01:11 am EDT

EUR/USD 1.4003 - 3 July

EUR/USD Open 1.3957 High 1.4148 Low 1.3933 Close 1.4002

Euro/Dollar made a significant downward movement on Thursday. The currency couple made a top at 1.4148, than descended down to the 1.3933 bottom, closing the day at 1.4002. Technically the fact, that the 1.4000 support was penetrated downwards should create conditions for decreasing scenario with targets towards 1.3930, followed by 1.3810. The nearest resistance is Wednesday's top 1.4190. The CCI indicator is in the overbought zone and downwards on the 1 hour chart, assuming potential consolidation.

Technical resistance levels: 1.4200 1.4325 1.4450

Technical support levels: 1.3930 1.3810 1.3700

Trading range: 1.4015 - 1.3950

Trend: Downward

Sell at 1.4003 SL 1.4033 TP 1.3963

Yesterday we made +19 pips profit on EUR/USD from the following signal:

5:42 GMT+1 Buy EUR/USD at 1.4109 SL 1.4083 TP 1.4159 exited at 6:33 GMT

Total yesterday +151, as shown at www.zifx.com/performance.php

For more forex information, go to www.iForex.bg

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