July 1, 2008 05:25

Technical Analysis – EUR/USD Support Holding

Posted In: Technical Analysis
By:

7-1-08

6:21a GMT – Support for the EUR/USD at 1.5715 is being tested for the second time on the 4H chart after a good bounce on 6/26-6/27. Pair has been crashing against this support for the past 24 hours and I expect it to hold.

Trading Idea: Long positions above 1.5715 are favored while support holds. Targets at 1.5745, 1.5780 and 1.5830. If support is broken look for a return to 1.5675 and 1.5615.

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