Euro remains within the wider sideways formation, while its upper range was tested in the end of the previous week, but these levels could not be breached again. This week starts with a corrective move from 1,4300 and first important support emerges at 1,4180-00, followed by 1,4130-50. An upward reaction is possible from these levels and 1,4300-30 should be tested as resistance once again. A sideways move between these levels is a possible scenario today.
*STRATEGY: Buy orders could be tried at 1,4130-50 with target at 1,4200 and stops below 1,4100. However, sell orders could be tried at a possible reach of 1,4300-20 with target at 1,4250 and stops above 1,4350...
Monday, August 3, 2009
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