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iFOREX.bg EUR/USD Technical Analysis 2 October 2008
By: iForex.bg - 02-10-2008
0votesEUR/USD 1.3970 - 2 October
EUR/USD Open 1.4608 High 1.4170 Low 1.3932 Close 1.4015
The Euro continued descending significantly yesterday against the US Dollar from Wednesday's top 1.4170 to the bottom 1.3932, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, as we expect for the moment, next support further down is expected at 1.3870, followed by 1.3800. In upward direction next resistance for today is expected at 1.4250, the break of which would lead to next target 1.4335.
Technical resistance levels: 1.4170 1.4250 1.4335
Technical support levels: 1.3930 1.3870 1.3800
Trading range: 1.3980 - 1.3920
Trend: Downward
Sell at 1.3970 SL 1.4000 TP 1.3930
Yesterday we made +47 pips profit on EUR/USD from the following signal:
5:57 GMT+1 Sell EUR/USD at 1.4122 SL 1.4148 TP 1.4072 exited 4:47 GMT+1
Total yesterday +163, as shown in details at our web site.
Next Analysis: iFOREX.bg GBP/USD Technical Analysis 2 October 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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