Euro Technical Major Currencies (2010-02-02)

 @ibtimes
on February 02 2010 1:44 AM

Morning Report

The pair is facing a cluster resistance level around at 1.3925 as we discussed yesterday, in an attempt togather bearish momentum to support previous expectations for a bearish trend. We could witness some mixed fluctuation today; where we expect the overall direction to be bearish today and target 1.3800 initially, which requires trading to remain below 1.4055.

The trading range for today is among the key support at 1.3740 and the key resistance at 1.4050.

The general trend is to the upside as far as 1.3480 remains intact with targets at 1.6000.

Previous Report Weekly ReportSupport1.38701.38001.37401.36701.3645Resistance1.39251.40001.40551.40801.4145RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.3925 targeting 1.3800 and stop loss above 1.4055, might be appropriate.

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