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Feb 13, 2012 12:12AM GMT
     
 
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EUR/USD Technical Analysis 5 January 2009

By   |  Forex Technical Analysis  |  Jan 05, 2009 12:00AM GMT
 
 
EUR/USD Open 1.3954 High 1.3973 Low 1.3839 Close 1.3916

On Friday Euro/Dollar tested the 1.3973 top and from there descended down to 1.3839, and closed at 1.3916 after little correction. The Euro broke the 10 day SMA, heading towards the next support at 1.3980, which is 38.3% Fibonacci to of the climb from October to December. The CCI indicator is in neutral zone on 3 time frames - one hour, four hour and daily chart. The Stochastic however indicates readiness for the market to support the Euro, and it is quite possible today to see again sharp rise towards the top 1.4050. First resistance is seen at 1.3980, which is 23.5% Fibonacci of the above level.
Technical resistance levels: 1.3980 1.4100 1.4210
Technical support levels: 1.3825 1.3745 1.3570

Trading range: 1.3915 - 1.3500
Trend: Downward
Sell at 1.3901 SL 1.3931 TP 1.3861


Yesterday we made +50 pips profit on EUR/USD from the following signal:
6:18 GMT Sell EUR/USD at 1.4059 SL 1.4085 TP 1.4009 TP reached at 6:32 GMT
Total on 30th +147, as shown in details at our web site.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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