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iFOREX.bg EUR/USD Technical Analysis 16 July 2008

16-07-2008 - iForex.bg  |   Forex Technical Analysis
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EUR/USD 1.5882 - 16 July
EUR/USD Open 1.5932 High 1.6040 Low 1.5880 Close 1.5887

The Euro climbed significantly yesterday against the US Dollar from Tuesday's bottom 1.5880 to a new top record 1.6039, which are the first support and resistance levels respectively for the currency couple today. Than the Euro corrected back to this morning's 1.5874, but the upward sentiment remains intact. If the positive trend continues, next resistance is expected at 1.6100, followed by 1.6180. In downward direction next support for today is expected at 1.5800, the break of which would lead to next target 1.5700.
Technical resistance levels: 1.6040 1.6100 1.6180
Technical support levels: 1.5880 1.5800 1.5700

Trading range: 1.5870 - 1.5935
Trend: Upward
Buy at 1.5882 SL 1.5852 TP 1.5922

Yesterday we made +45 pips profit on EUR/USD from the following signal:
6:00 GMT+1 Buy EUR/USD at 1.5931 SL 1.5905 TP 1.5981 exited 8:51 GMT+1
Total yesterday +205, 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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