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EUR/USD Technical Analysis 10 August 2009 By iForex.bg

Aug 10, 2009 Make Money Online

EUR/USD Open 1.4191 High 1.4136 Low 1.4005 Close 1.4178

Euro/Dollar made a significant decreasing movement on Friday. On the 1 hour chart the extended triangle formation was broken downwards and quotes tested the 1.4160 level, assuming potential bearish perspectives. The nearest support is represented by Friday’s bottom 1.4160, the break of which may give a further descending pressure with possible test of 1.4040, followed by 1.3925. Immediate resistance is 1.4380, the penetration of which may lead to renewal of the upward trend, with next objective 1.4500. The CCI indicator is in the oversold zone and upwards on the 1 and 4 hour charts, suggesting potential upward impulse.
Technical resistance levels: 1.4380 1.4500 1.4635
Technical support levels: 1.4160 1.4040 1.3925

Trading range: 1.4185 – 1.4250
Trend: Upward
Buy at 1.4197 SL 1.4167 TP 1.4237

On Friday we made 26 pips profit on EUR/USD from the following signal:
5:37 GMT 1 Sell EUR/USD at 1.4365 SL 1.4391 TP 1.4315 exited at 6:56 GMT
Total on Friday 133, as shown in details at our web site.

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