Currency Technical Report

Daily Forex Technicals | Written by FX Greece | Sep 16 09 12:40 GMT |

EUR/USD Resistance: 1,4680/ 1,4700/ 1,4725-30/ 1,4780/ 1,4810/ 1,4835/ 1,4860/ 1,4900 Support : 1,4635-40/ 1,4600/ 1,4560/ 1,4530/ 1,4500/ 1,4480/ 1,4450/ 1,4420/ 1,4380-00 Comment : Euro formed new tops at 1,4680, as the slow but steady rise continues and retracements remain shallow. The upper part of the upward channel is tested but the sentiment remains bullish. Next important resistance, in case of an upward break of the channel, emerges at 1,4720-30, but it is very likely to be breached. Next targets are set at 1,4850 and we will focus at that area looking for reversal signs.. Next important targets will be at 1,4950-00 and 1,5300 are, in case of an extensive rise. We will follow the trend and adjust our strategies according to that. The area of 1,4630-45 is now turned into a support levels and it should be breached in order to get some signs of weakness. Next support emerges at 1,4550 and 1,4500,which are also the reversal ranges. For now, we will focus on 1,4680-00 and we wait for the market's reaction at these levels... *STRATEGY: Sell positions at 1,4650 could not reach our lower targets. We will keep half positions open with stop above 1,4730. Retracements towards 1,4550-80 will be used for buy 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.