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Monday, 16 July 2012

2012.07.16 07:09:58 EUR/USD intraday: rebound.

EUR/USD intraday: rebound.

Update on supports and resistances.
Pivot: 1.2205.

Our Preference: LONG positions @ 1.2215 with 1.2265 & 1.2295 as next targets.

Alternative scenario: The downside breakout of 1.2205 will open the
way to 1.2165 & 1.215.

Comment: the pair has broken above a MT declining trend line and
remains on the upside.

Trend: ST Ltd Downside; MT Range

Key levels Comment

1.2325*** Intraday resistance
1.2295** Intraday resistance
1.2265*** Intraday resistance
1.2235 Last
1.2205** Intraday pivot point
1.2165** Intraday support
1.215** Intraday support
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