Technical Analysis Daily: EUR/USD

Daily Forex Technicals | Written by iFOREX.bg | Jun 22 09 05:55 GMT |

EUR/USD 1.3916 EUR/USD Open 1.3936 High 1.3998 Low 1.3882 Close 1.3938 Euro/Dollar had a moderate increasing momentum on Friday. The currency couple tried to drop, reaching a bottom at 1.3882, than ascended, reached a peak at 1.3998 and closed the week highrt at 1.3938. On the 1 hour chart there a still valid secondary ascending channel, but the rising scenario will be confirmed only when the trend line resistance is broken. Last week there wasn't clear and convincing directional movement, and perhaps it is better to await further developments on the market. Immediate support is 1.3880, followed by 1.3750. Break at that level may trigger further bearish impetus towards 1.3590. The nearest resistance is 1.4000, the break of which might lead to further upward movement towards 1.4100. The CCI indicator is in the negative zone on the 1 and 4 hour charts, suggesting potential downward pressure. Technical resistance levels: 1.4000 1.4100 1.4230 Technical support levels: 1.3880 1.3750 1.3590 Trading range: 1.3930 - 1.3865 Trend: Downward Sell at 1.3916 SL 1.3946 TP 1.3876 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com