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EUR/USD July 3
By: Cory Mitchell - 2009-03-07
2votesUS Bank Holiday today, so the market could swayed in either direction, and news affecting the EUR could have a more significant impact with less volume over the course of the day.
Minor support is at 1.3940 and 1.3925. Watch for stop hunts, but a break below would indicate a test 1.3890 and 1.3860 beyond. 1.3830 should hold off further declines.
A move back above 1.4000 would be bullish and indicate a profit target of 1.4070. Intermittent resistance is a at 1.4025. 1.4100-1.4120 is the resistance area beyond.
Cory Mitchell, CMT
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Cory is an independent trader, analyst and writer specializing in short-to medium-term technical strategies. He is the founder of vantagepointtrading, a website dedicated to offering free trade ideas, analysis, trader education and discussion. After graduating with a business degree Cory has spent ...
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