iFOREX.bg EUR/USD Technical Analysis 6 August 2008

Published 08/05/2008, 09:30 PM
Updated 01/01/2017, 02:20 AM
EUR/USD 1.5499 - 6 August
EUR/USD Open 1.5558 High 1.5576 Low 1.5450 Close 1.5462

The Euro continued descending yesterday against the US Dollar insignificantly from Tuesday's top 1.5576 to the bottom 1.5450, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues as we expect to, next support is expected at 1.5375, followed by 1.5310. In upward direction next resistance for today is expected at 1.5645, the break of which would lead to next target 1.5710.
Technical resistance levels: 1.5575 1.5645 1.5710
Technical support levels: 1.5450 1.5375 1.5310

Trading range: 1.5510 - 1.5445
Trend: Downward
Sell at 1.5499 SL 1.5529 TP 1.5459


Yesterday we made +48 pips profit on EUR/USD from the following signal:
5:59 GMT+1 Sell EUR/USD at 1.5535 SL 1.5561 TP 1.5485 exited 9:38 GMT+1
Total yesterday +153, as shown in details at our web site.

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