Technical Analysis Daily: EUR/USD

Daily Forex Technicals | Written by iFOREX.bg | Aug 29 08 05:47 GMT |

EUR/USD 1.4758 EUR/USD Open 1.4786 High 1.4804 Low 1.4677 Close 1.4708 The Euro continued descending significantly yesterday against the US Dollar from Thursday's top 1.4804 to the bottom 1.4677, which are the first resistance and support levels respectively for the currency couple today. The currency couple still remains within this week's range 1.4580 - 1.4803. If the negative trend is renewed as we expect for today, next support is expected at 1.4600, followed by 1.4510. In upward direction next resistance for today is expected at 1.4875, the break of which would lead to next target 1.4940. Technical resistance levels: 1.4805 1.4875 1.4940 Technical support levels: 1.4675 1.4600 1.4510 Trading range: 1.4770 - 1.4705 Trend: Downward Sell at 1.4758 SL 1.4788 TP 1.4718 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com