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EUR/USD Classical 07.19

EUR/USD Classical 07.19

2010-07-19 05:26:00
Joel Kruger, Technical Strategist
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EUR/USD:  However, on the other hand, the broader downtrend still remains intact and there is also the strong possibility for a bearish resumption with daily studies now looking stretched and the market reversing course after finally taking out 1.3000 on Friday. As such, we recommend that traders stay on the sidelines and look to see where the market settles at the Monday close for a better indication of where we could be headed. Next key topside resistance comes in by 1.3090, while there is no real support until 1.2780. 

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
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