Currency Technical Report

Daily Forex Technicals | Written by FX Greece | Jul 29 08 10:10 GMT |

EUR/USD Resistance : 1,5740/ 1,1,5765-70/ 1,5800-10/ 1,5850-60 Support : 1,5670-80/ 1,5630-40/ 1,5600/ 1,5570/ 1,5520 Comment : The outlook remains the same and so does our scenario. According to current signs, the resumption of the rise until 1,5800-20 or even 1,5900 is more possible than a decline. TRADING EUR/USD SWING TRADING : The scenario remains the same 'The move towards 1,5620-30 gave us buy opportunities leading us to our basic target at 1,5790-5810. Depending on the strength of the move, we may keep our positions for higher levels. A possible pullback above 1,5850 until 1,5920 area, will be used for sell positions with target at a retracement to the base of 1,5620-5650...' INTRADAY TRADING : We will try buy positions at the retracements in 1,5700-10 and 1,5680 area, with stops below 1,5650. Buy positions could be tried at a possible break of 1,5770, with target at 1,5810-20 area. At the area of 1,5810-20 sell positions could emerge, adding more at 1,5850. Our target will be the area of 1,5760, while stops could be set above 1,5880… GBP/USD Resistance : 1,9930/ 1,9970/ 2,0020/ 2,0050 Support : 1,9900/ 1,98501,9830-40/ 1,9790-00/ 1,9750/ 1,9700 Comment : The pound formed a reaction until 1,9960-70, levels where bears gained momentum, as expected. Even though the move could not breach the area of 1,9900, the pound is will possibly follow the same scenario and reactions should be limited at 2,0030-50 area. TRADING GBP/USD : We will try sell positions in the reactions towards 1,9960-70 and 2,0020-30 with stops above 2,0050 and targets at 1,9900 area… USD/JPY USD/CHF FX Greece DISCLAIMER The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market. We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action. We reserve the right to change the terms and the characteristics of the analysis. The contents of the analysis are solely intended for personal use. They may not be retransmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights.