Thursday, August 20, 2009

EUR/USD Technical analysis

eurusd

EUR/USD looks heavy after making a new high for the current move which is confirmed by the doji candlesticks. The trading desk of Goldman Sachs issued a report that EUR is overvalued. I would suggest you to avoid long positions in EUR/USD. Support starts from 1.4370/65 more close behind around 1.4355/45 with stops below. If stops triggered a sell off could start a deeper move towards 1.4310/00. Resistance starts from 1.4420/25 then 1.4335 with option linked sell interest said to extend toward a suggested barrier at 1.4450.

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