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EUR/USD Technical Analysis 11 August 2009 By iForex.bg

Aug 11, 2009 Make Money Online

EUR/USD Open 1.4135 High 1.4216 Low 1.4107 Close 1.4137

Euro/Dollar continued its decreasing movement on Monday. The currency couple broke yesterday’s 1.4040 support level, assuming further potential bearish perspectives. The nearest current support is 1.4100, the break of which may give a further descending pressure with possible test of 1.3980. Immediate resistance is yesterday’s top at 1.4215, the penetration of which may lead to renewal of the upward trend, with next objective 1.4340. The CCI indicator is about to cross the 100 line on the 1 hour chart, suggesting potential bearish pressure.
Technical resistance levels: 1.4215 1.4340 1.4465
Technical support levels: 1.4100 1.3980 1.3855

Trading range: 1.4155 – 1.4095
Trend: Downward
Sell at 1.4145 SL 1.4175 TP 1.4105

Yesterday we made 23 pips profit on EUR/USD from the following signal:
5:38 GMT 1 Sell EUR/USD at 1.4204 SL 1.4230 TP 1.4154 exited at 7:11 GMT
Total yesterday 113, as shown in details at our web site.

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