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July 12th, 2007 @ 3:59 am by Bogdan Parascanu

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EUR/USD Technical View


Euro slowed down a bit yesterday forming a doji candle on the daily charts but seems to have found new strengths this morning and is trading just above Tuesday’s high at 1.3782. The uptrend, as clearly seen on the chart bellow, is very much in place and by the way things look the pair is heading towards the 1.3800 round number which is the closest resistance level we can see. Until something happens to disrupt the long move one has to resist the temptation to open a short trade, but we will mention some support levels just in case. Closest we have the above mentioned 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.

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

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July 11th, 2007 @ 3:40 pm by Eugene Teplitsky

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This is a video summary of the Live Trading Room New York session on July 11, 2007.

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[youtube]http://www.youtube.com/watch?v=qK_vqvxcl5w[/youtube]

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July 11th, 2007 @ 2:02 am by Bogdan Parascanu

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EUR/USD Technical View

Euro smashed any king of resistance that was in place in yesterday’s session and made a new high at 1.3782, the increased momentum was noticed on most USD pairs and the Euro didn’t stayed out. With an almost 200 points day, Tuesday’s move was the largest we have seen on this pair in a long time. Breaking above the 1.3660/80 resistance area, now turned into support, has given the pair enormous upside momentum, and this along side the general weakness witnessed in the US dollar have set the stage for the huge gain. As far as future resistance goes we have to mention yesterday’s high at 1.3782 as the level to break for a continuation, other than that there no other level to be aware of excepting round numbers. We will mention some support levels just in case the pair will start to retrace, closest we have the above mentioned 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.

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

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July 10th, 2007 @ 1:03 pm by Eugene Teplitsky

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This is a video summary of the Live Trading Room New York session on July 10, 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=LhJMFPMFox8[/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 10th, 2007 @ 1:43 am by Bogdan Parascanu

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EUR/USD Technical View

Euro started the week slow, losing a few point against the US dollar, getting close to the 1.3600 support level. We are basically trading inside last week’s range and are waiting for a breakout. On the south side, being aware of the overbought state we have on the daily charts, we can spot a couple of important support level very close to current trading price, first comes the 1.3600 round number which is followed by June 5th and July 6th range at 1.3550/60. Both of the above mentioned support areas can be a good starting point for another Euro bounce and a new try to take out the YTD high at 1.3680, on the other hand if those levels fail to hold the pair above them the next support zone is last moves .50% Fib at 1.3460. On the upside we have a very clear resistance zone at 1.3660/80 which has already rejected the pair last week but once broken should open up new target for longs.

Resistance Levels

  • 1.3680 – April 27th High
  • 1.3630 – May 7th High

Support Levels

  • 1.3550 – June 5th High
  • 1.3459 – May 10th/11th Low
  • 1.3365 – December 3rd High
  • 1.3300 – January 7th High

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July 9th, 2007 @ 2:50 am by Bogdan Parascanu

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EUR/USD Technical View


Euro put in a 4th consecutive week of gains, covering close to 400 points and getting very close to the year’s high at 1.3680. The week started with a strong move and the pair broke into what would prove to be an important range between 1.3550 and 1.3660, with Thursday’s high at 1.3660 proving to be a significant resistance Euro slipped lower only to bounce right back up from the 1.3550 support level. Looking at the daily charts one can spot that the pair seems overbought to some extent and if the current uptrend is to continue the 1.3660/80 resistance area must be broken in the following days; if this doesn’t happen bears will see it as an good opportunity to add and open new shorts and this will put lots of pressure on the pair. Getting above the YTD high at 1.3680 will open up new targets for longs, first one being the 1.3700 round number, above that we don’t have any clear resistance levels and we will analyze the situation as it happens. Conversely, a failure to break above the mentioned resistance levels will have to move focus towards support levels, closest support is the June 5th high at 1.3550, next we have May 10th/11th lows as well as the last moves .50% Fib at 1.3460 as a significant support level; both of these should at least slow down a possible trend reversal if not bounce the pair back up.
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July 3rd, 2007 @ 5:56 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 3, 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=hDQsE4vJkIk[/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 3rd, 2007 @ 4:08 am by Bogdan Parascanu

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EUR/USD Technical View

Euro started the week strong, breaking above 1.3550 and than above 1.3600 in yesterdays trading session. Making a high at 1.3640, the pair got only 40 pips away from the YTD high at 1.3680 which at this point is the head resistance and is also the main bullish target on an intermediary term. Currently the pair has slowly slipped towards the 1.3600 support level but we can’t say that we are still in a strong uptrend. We mentioned a scenario in our previous commentary, that consisted of ranging week days with a strong move on Fridays, well at this point that seemed to have reversed after we had a energetic move early in the week. If the pair doesn’t manage to hold above 1.3600 closest support is the 1.3550 former resistance level, followed in lower by the 1.3460/80 range, all levels will be possible turning points of future retracement if that happens.

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