Currency Technical Report

Daily Forex Technicals | Written by FX Greece | Jun 15 09 12:34 GMT |

EUR/USD Resistance: 1,3930-40/ 1,3980-85/ 1,4020-30/ 1,4070/ 1,4120-30/ 1,4170 Support : 1,3850-55/ 1,3800-10/ 1,3750-60/ 1,3700/ 1,3650/ 1,3600 Comment: The week starts negative for euro, and support at 1,3900 is being breached at the time of the writing. We do not have much to add to our previous analysis. Our higher targets according to our basic scenario (1,4340) for the midterm were achieved and the reversal candle formation in the weekly chart, leave us negative regarding euro, while the top formation (Head and Shoulders) that is clear in the 4 hour and daily chart confirm our bearish sentiment. The base of 1,3800-10 should be breached downwards, in order to confirm this scenario. Possible targets will be at 1,3430-60 and 1,3270-00 area. If the area of 1,3800 is not breached or a false break and pullback above 1,3900, would cancel our downward scenario. *STRATEGY : We remain bearish trying sell orders at current levels 1,3880-90, adding more at 1,3940-50 and set our stops above 1,4000. Our target will be at 1,3800-20 area. We will follow the first reach of 1,3800 with buy orders and close stops, while a downward break will be used for sell orders.... 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.