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iFOREX.bg EUR/USD Technical Analysis 17 July 2008

17-07-2008 - iForex.bg  |   Forex Technical Analysis
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EUR/USD 1.5851 - 17 July
EUR/USD Open 1.5932 High 1.5938 Low 1.5804 Close 1.5819

The Euro retrieved significantly yesterday against the US Dollar from Wednesday's top 1.5938 to a the bottom 1.5804, which are the first resistance and support levels respectively for the currency couple today. Today the Euro started recovering. If the positive trend continues, next resistance is expected at 1.6015, followed by 1.6100. In downward direction next support for today is expected at 1.5720, the break of which would lead to next target 1.5650.
Technical resistance levels: 1.5940 1.6015 1.6100
Technical support levels: 1.5805 1.5720 1.5650

Trading range: 1.5840 - 1.5905
Trend: Upward
Buy at 1.5851 SL 1.5821 TP 1.5891

Yesterday we made +37 pips profit on EUR/USD from the following signal:
6:00 GMT+1 Buy EUR/USD at 1.5895 SL 1.5869 TP 1.5945 exited 8:15 GMT+1
Total yesterday +190, 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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