EURUSD
Weekly
Analysis
19-July-2010
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EURUSD Weekly Analysis
Weekly Trend Direction: Bullish
Weekly Trend Reversal Level: 1.2500
Key Support Levels: 1.2740, 1.2575, 1.2440, 1.2300
Key Resistance Levels: 1.3000, 1.3300
Entry Strategy: Buying dips in an uptrend at support levels, while market trades
above trend reversal level
Trade Suggestion: This pair made a bullish run as we determined last week and
continued to trade above our weekly trend reversal level and reached our sited tar-
gets of last week which is 1.2830 and 1.3000
Now this pair reached as high as 1.3007 which is a corrective rise of the fall from
1.3691 to 1.1875, which is 61.8 of that fall. This pair has a critical region between
1.3000 to 1.3300 , which could be a potential resistance zone / reversal zone. How-
ever this pair could continue it run to 1.3300 target, exceeding this sited level will
give this pair more push upwards towards 1.3500 target.
What we are seeing now on this pair is a A B C correction on daily charts. Price level
exceeding 1.3300, w