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iFOREX.bg EUR/USD Technical Analysis 29 August 2008
By: iForex.bg - 29-08-2008
0votesEUR/USD 1.4758 - 29 August
EUR/USD Open 1.4786 High 1.4804 Low 1.4677 Close 1.4708
The Euro continued descending significantly yesterday against the US Dollar from Thursday's top 1.4804 to the bottom 1.4677, which are the first resistance and support levels respectively for the currency couple today. The currency couple still remains within this week's range 1.4580 - 1.4803. If the negative trend is renewed as we expect for today, next support is expected at 1.4600, followed by 1.4510. In upward direction next resistance for today is expected at 1.4875, the break of which would lead to next target 1.4940.
Technical resistance levels: 1.4805 1.4875 1.4940
Technical support levels: 1.4675 1.4600 1.4510
Trading range: 1.4770 - 1.4705
Trend: Downward
Sell at 1.4758 SL 1.4788 TP 1.4718
Yesterday we made +33 pips profit on EUR/USD from the following signal:
5:59 GMT+1 Sell EUR/USD at 1.4783 SL 1.4809 TP 1.4733 exited 8:36 GMT+1
Total yesterday +124, as shown in details at our web site.
Next Analysis: iFOREX.bg GBP/USD Technical Analysis 29 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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