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July 18th, 2007 @ 3:22 am by Bogdan Parascanu

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EUR/USD Technical View

The pair managed to get above 1.3800 early Today in the Asian session but has retraced andas we can see in the chart bellow is trading around 1.3780 area. We seem to have entered into a consolidation zone with the lower margin at 1.3750 and the high around 1.3800, in most cases the consolidation in a strong trend is a sign that the trend will continue, if that will be the case here, we have to break and stay above the 1.3800/30 resistance area otherwise bears might start reconsidering their situation and open up new short that will put downside pressure on the pair. As far as support goes we will have to reiterate out previous commentary that if price fails to breach above 1.3800 will force us to look for support levels, closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area.

Resistance Levels

  • 1.3810 – July 13th High
  • 1.3750 – round number

Support Levels

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July 17th, 2007 @ 7:52 pm by Eugene Teplitsky

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This is a video summary of the Live Trading Room New York session on July 17, 2007.

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[youtube]http://www.youtube.com/watch?v=cUoySneIALE[/youtube]

Click here to view higher quality versions of our past Live Trading Room summaries on our forums.

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July 17th, 2007 @ 4:16 am by Bogdan Parascanu

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EUR/USD Technical View

Yesterday we saw an undecided day on EurUsd, the daily candlestick is a doji, basically after a failed push at 1.3800 the pair closed the day where it opened, today on the other hand the pair started again to get close to 1.3800, and considering the general market sentiment this time it could be a successful attempt. The pair still needs to break above the 1.3800/10 resistance area in order that the long trend to resume, above that we will be trading at record highs without any real resistance levels ahead. Conversely a failure to breach above 1.3800 will force us to look for support levels, closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area.

Resistance Levels

  • 1.3810 – July 13th High
  • 1.3750 – round number

    Support Levels

    • 1.3680 – April 27th High
    • 1.3550 – June 5th High
    • 1.3459 – May 10th/11th Low
    • 1.3365 – December 3rd High

    Read the rest of this entry »

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    July 16th, 2007 @ 5:55 pm by Eugene Teplitsky

    Click here to read the full article.

    This is a video summary of the Live Trading Room New York session on July 16, 2007.

    We Trade – You Learn
    Our instructors perform trades on the real-time market, in our virtual Live Trading Room.

    See, Listen, Participate
    Watching professionals at work and learning from their example in the Live Trading Room is an essential part of becoming a better, more disciplined trader.

    To learn more about the Live Trading Room, please click here.

    [youtube]http://www.youtube.com/watch?v=b_baFVWKXzI[/youtube]

    Click here to view higher quality versions of our past Live Trading Room summaries on our forums.

    Click here to read the full article.

    July 16th, 2007 @ 9:40 am by Eugene Teplitsky

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    Hey everyone,

    We have a FREE webinar coming up on the FXStreet.com forex portal, on July 17, 2007 at 11:00 GMT (7:00am EDT).

    We will be presenting our Live Trading Room:

    “Observe dedicated market professionals trading in the real-time market – learn from their analysis, technique, and trade planning. Mistakes on Forex are very costly. That is why observing professional traders as they open positions in our Live Trading Room (LTR) is so essential for traders of all levels. Watch, listen, and participate, as we turn our knowledge and experience into market advantage.”

    I hope you will join us there!

    To register for the session, please click here.

    You can also see a list of all our upcoming FXStreet sessions by clicking here.

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    July 16th, 2007 @ 2:50 am by Bogdan Parascanu

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    EUR/USD Technical View

    Last week we marked a 5th consecutive green week on the EurUsd, a straight move up in excess of 550 points. As far as the price action developed, we had a slow start on Monday followed by a very strong push north on Tuesday fueled both by technical and fundamental reasons, and the move continued for the rest of the week but with weaker momentum. The high of the week was established on Friday July 13th at 1.3810 but the pair didn’t have enough energy to close above 1.3800. Resistance wise, for a future move up, we have the above mentioned 1.3800/10 area once that gets broken we will be, again, trading at record highs. We do have to mention possible support levels as the pair might start to retrace after such a move, closest support level we can spot is the 1.3750 round number which if breached will give us a sign that a bigger move south might happen; lower down we have a previous resistance area now turned into strong support at 1.3660/80, this is the main mid-term bearish target, and if the pair gets that low it will put up a fight, if Euro doesn’t find any decent support at 1.3660/80 it will more than likely sink towards the 1.3550/60 which is another significant support area. Overall the bias is still bullish but there are signs in the market that the $ might be in for a reversal so we will have to analyze everything very carefully and act accordingly.

    Resistance Levels

    • 1.3810 – July 13th High
    • 1.3750 – round number

      Support Levels

      • 1.3680 – April 27th High
      • 1.3550 – June 5th High
      • 1.3459 – May 10th/11th Low
      • 1.3365 – December 3rd High

      Read the rest of this entry »

      Click here to read the full article.

      July 13th, 2007 @ 8:49 am by Eugene Teplitsky

      Click here to read the full article.

      This is a video summary of the Live Trading Room New York session on July 12, 2007.

      We Trade – You Learn
      Our instructors perform trades on the real-time market, in our virtual Live Trading Room.

      See, Listen, Participate
      Watching professionals at work and learning from their example in the Live Trading Room is an essential part of becoming a better, more disciplined trader.

      To learn more about the Live Trading Room, please click here.

      [youtube]http://www.youtube.com/watch?v=XpGC2Y1oqTc[/youtube]

      Click here to view higher quality versions of our past Live Trading Room summaries on our forums.

      Click here to read the full article.

      July 13th, 2007 @ 3:31 am by Bogdan Parascanu

      Click here to read the full article.

      EUR/USD Technical View

      Euro made a new high yesterday at 1.3800, but it didn’t have enough strength to get over it so we are currently trading a few points bellow that. With such a clean move the situation is very clear and we can’t say that much about it, the uptrend is still going strong and the closest resistance is the 1.3800 round number, once the pair gets above it we will have to analyze price action to see if we have any signals of a slowdown. As far as support goes closest one is the 1.3660/80 area, followed lower down by the 1.3550/60, both support zones have already proven themselves as important ones price bouncing from them a few times in the last months. Personally i do like to look after symmetry pattern in price, so if we analyze euro from that perspective we can spot 3 waves of equal lengths formed from the start of the uptrend, from June 13th until now we can see 3 roughly 100 points waves that have formed the bulk of the up move; that is not meaning that the move is going to finish but we will certainly pay closer attention to price action at current levels.

      Resistance Levels

      • 1.3800 – round number
      • 1.3782 – July 10 High

      Support Levels

      • 1.3680 – April 27th High
      • 1.3550 – June 5th High
      • 1.3459 – May 10th/11th Low
      • 1.3365 – December 3rd High
      • Read the rest of this entry »
      Click here to read the full article.

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