Currency Technical Report

EUR/USD

Resistance: 1,3980-85/ 1,4020-30/ 1,4060-70/ 1,4120-30/ 1,4170
Support : 1,3900-15/ 1,3870/ 1,3820/ 1,3800-10/ 1,3750-60/ 1,3700/

Comment: Euro closed negative yesterday as resistance at 1,4000 could not be breached. These levels are likely to be reached again as the days starts with a rise, while next important resistance emerges at 1,4030-50, where the trend line is found in the daily chart.

A break of these levels will be a negative sign regarding our downward scenario and could lead to 1,4150-80, where it will be completely canceled.

Today starts with a slightly higher and our target in case of a rise resumption will be at 1,3980-00. A break of these levels would lead to 1,4030-50.

Downwards, first support emerges at 1,3900-15, where the lower part of the channel in the hourly chart is found, followed by 1,3860-80 area.

A move below the last base of 1,3780-00 (daily chart) will be a positive sign regarding our scenario.

*STRATEGY :

We will try sell orders at 1,3980-00, adding more at 1,4030-40 with stops above 1,4080. Target will be at 1,3940-50, while higher positions will have as target the area of 1,3990-00..

Sell orders could be tried again at a break of 1,3860-80 with target at 1,3800-20 and stops above 1,3920.

FX Greece

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