Currency Technical Report

EUR/USD

Resistance : 1,5480/ 1,5500-10/ 1,5550/ 1,5580/ 1,5600/ 1,5640-50
Support : 1,5430-40/ 1,5400/ 1,5380/ 1,5340-45/ 1,5320/ 1,5280

Comment : The move between the ranges of the sideways consolidation, continues regarding the pair, and a base which will indicate the next important move seems to be forming. Although the trend remains bearish, an upward break of the consolidation is likely, reaching the area of 1.5570-00 at first and then the area of 1.5750 or 1.5800.

First intraday resistance is found at the area of 1.5490-00, followed by the area of 1.5530 and 1.5570, where the previous tops were formed. An upward break of 1.5600 will indicate the trend reverse, and our stops will be put above this area. In case of an upward break, the pair will be led to 1.5700 area at first and then the area of 1.5800-50. First interim resistance is found at 1.5645-50.

Support emerges at 1.5400-20 and 1.5350-60 area. The second is more important as it will confirm the upward scenario. Below these levels, a pullback to previous lows or even lower is possible.

TRADING EUR/USD : We are bullish regarding euro and we will try additional positions in the area of 1.5400-20. Our first target will be the area of 1.5530, followed by the area of 1.5560-70. An upward break of 1.5600 will be used for new buy positions with stops below 1.5540…

GBP/USD

Resistance : 1,9480/ 1,9510/ 1,9550/ 1,9580/ 1,9600-05/ 1,9635-40/
Support : 1,9400/ 1,9370/ 1,9340/ 1,9300/ 1,9260-70

Comment : The important base of 1.9350-70 was tested once again and buyers did not allow the prices to move lower. The reverse candle in the daily chart and the oscillators indicate the resump-tion of the upward retracement from yesterday's lows, with possible target the area of 1.9700-30.

First intraday resistance is found at 1.9480-90 area. An upward break will lead to the area of 1.9600-30, which seems to be strong for today…Next target will be the area of 1.9710-30.

The area of 1.9420-30 is an important intraday support, which should not be breached in order for the move to continue to higher levels.

Below this area, a pullback to yesterday lows is possible, and the area of 1.9350 will be tested once again.

TRADING GBP/USD : We will be bullish, adding positions at a break of 1.9530, having as target the area of 1.9600-20. Our stops will be set below 1.9410 area…

USD/JPY

USD/CHF

FX Greece

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