July 30, 2008 02:49

Technical Analysis – EUR/USD At Strong Weekly Support

By:

7-30-08

1:44a GMT – EU has touched and bounced off of strong daily and weekly support after yesterdays retreat downward found no buyers willing to support the pair. Support can be found between yellow and purple lines on chart below, currently between 1.5585-1.5525. Pair also just crossed above 30 on the 60M RSI, a buy signal.

Trading Idea: Look for buying opportunities between these support levels as pair looks ready to rebound. I expect the pair to make a full recovery to 1.5900 with targets at 1.5660, 1.5725 and 1.5815 along the way.

(click to enlarge)
EUR/USD daily and weekly support

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2 Comments on "Technical Analysis – EUR/USD At Strong Weekly Support"
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    July 30, 2008 at 04:33
    Ernst says:

    Just received 90+ mails from you, is there something wrong with your mailserver?

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    July 30, 2008 at 04:50
    piphut says:

    Ernst, sent you an email. It seems like you are the only one having the problem so I am going to unsubscribe you and then re-subscribe you to see if that fixes the problem. You will get a “please confirm” email but you can disregard it. If that doesn’t fix it then please let me know and I will try something else.

    If anyone else is having email problems please email me at admin@piphut.com

    Thanks,

    Mark

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