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iFOREX.bg EUR/USD Technical Analysis 14 July 2008

14-07-2008 - iForex.bg  |   Forex Technical Analysis
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EUR/USD 1.5900 - 14 July
EUR/USD Open 1.5932 High 1.5936 Low 1.5763 Close 1.5895

The Euro climbed significantly on Friday against the US Dollar from Friday's bottom 1.5763 to the top 1.5936, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance is expected at 1.6000, followed by 1.6080. In downward direction next support for today is expected at 1.5700, the break of which would lead to next target 1.5630.
Technical resistance levels: 1.5935 1.6000 1.6080
Technical support levels: 1.5765 1.5700 1.5630

Trading range: 1.5910 - 1.5850
Trend: Downward
Sell at 1.5900 SL 1.5930 TP 1.5860

On Friday we made +25 pips profit on EUR/USD from the following signal:
6:00 GMT+1 Buy EUR/USD at 1.5768 SL 1.5742 TP 1.5818 exited 9:39 GMT+1
Total on Friday +86, as shown in details at our web site.




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iFOREX.bg - Forex Daily and Evening forecasts, direct real time signal recommendations for entry and exit trading positions for EUR/USD, USD/JPY, GBP/USD and USD/CHF, and forex news.

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DISCLAIMER:

iFOREX Ltd. is in the business of teaching analysis of forex trends, and proposing potential trading signals - not recommendations. All statements and expressions are the opinion of the forex experts at iFOREX Ltd. and are not meant to be either investment advice or a solicitation or recommendation to establish market positions. Our opinions are subject to change without notice. We strongly advise clients to conduct thorough research relevant to decisions and verify facts from various independent sources. The staff at iFOREX Ltd. is not to be held responsible for individual market positions, all trades that clients may take are based on their own final decisions. We do not accept any liability for any loss or damage whatsoever, that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in the trading signals or in any accompanying chart analyses, whether communicated by word or message, typed or spoken by any of iFOREX Ltd. employees.
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