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iFOREX.bg EUR/USD Technical Analysis 25 August 2008
By: iForex.bg - 25-08-2008
0votesEUR/USD 1.4728 - 25 August
EUR/USD Open 1.4786 High 1.4906 Low 1.4696 Close 1.4780
The Euro continued descending significantly on Friday against the US Dollar from Friday's top 1.4906 to today's bottom 1.4696, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues as we expect for today, next support is expected at 1.4630, followed by 1.4550. In upward direction next resistance for today is expected at 1.4975, the break of which would lead to next target 1.5050.
Technical resistance levels: 1.4905 1.4975 1.5050
Technical support levels: 1.4695 1.4630 1.4550
Trading range: 1.4865 - 1.4925
Trend: Downward
Sell at 1.4728 SL 1.4845 TP 1.4915
On Friday we made +21 pips profit on EUR/USD from the following signal:
5:59 GMT+1 Buy EUR/USD at 1.4874 SL 1.4848 TP 1.4924 exited 7:01 GMT+1
Total on Friday +83, as shown in details at our web site.
Next Analysis: iFOREX.bg GBP/USD Technical Analysis 25 August 2008Content Provided by:
iForex.bg
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.
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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