Currency Technical Analysis

Published 06/19/2008, 08:00 PM
Updated 01/01/2017, 02:20 AM
EUR/USD

Resistance

: 1,5560/ 1,5685/ 1,5615-20/ 1,5650/ 1,5670-80/ 1,5700-10
Support : 1,5530/ 1,5490/ 1,5440-50/ 1,5430

Comment : Euro's retracement yesterday, was limited within the levels we had set for the trend reversal, and it rose from 1.5470 area. The area of 1.5550-60 will be the first intraday resistance and target, followed by yesterday's highs. A move above 1.5590-00 will lead to 1.5690-00 area, with our basic targets at 1.5800, in the ranges of the formation...
The upward scenario and higher targets will be canceled after a break of 1.5440...


TRADING EUR/USD
: Our yesterday’s strategy proved accurate, and we will follow again the short-term uptrend with targets at 1.5550-60 and then 1.5585-00 area. An upward break of 1.5600 will be followed with buy positions and target at 1.5685-00 area...Stops will be set below 1.5540 area...




GBP/USD

Resistance : 1,9740-60/ 1,9785/ 1,9830-50/ 1,9900
Support : 1,9680-85/ 1,9650/ 1,9620-30/ 1,9585

Comment : Our scenario was confirmed and today resistance at 1.9740-60 will be tested. A move above those levels will have as target the areas of 1,9800-10 and 1,9850.
Important support for today is found at 1.9680 area. A downward break could lead to 1.9620-30 area.

TRADING GBP/USD : Small sell positions could be tried at 1.9740-60, with stops above 1.9785. A downward break of 1.9680 may be followed with sell positions and target at 1.9630...



USD/JPY



USD/CHF



Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.

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