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Forex Trades 07/13 - European session
[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/eurusd"]EUR/USD - Euro / US Dollar[/url][/b]
[b]Entry[/b]: 1.26
[b]Stop[/b]: 1.2635
[b]Resistances[/b]: 1.2725 - 1.265 - 1.2615
[b]Supports[/b]: 1.215 - 1.248 - 1.255

[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/gbpusd"]GBP/USD - British Pound / US Dollar[/url][/b]
[b]Entry[/b]: 1.504
[b]Stop[/b]: 1.509
[b]Resistances[/b]: 1.5245 - 1.521 - 1.509
[b]Supports[/b]: 1.4775 - 1.4875 - 1.495

[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] ...

EURUSD Forecast
The EURUSD continued its bearish pressure yesterday, bottomed at 1.2550 but closed higher at 1.2596. The bias is neutral in nearest term but the potential downside scenario by the rising wedge formation remains intact especially if price able to move consistently below 1.2550 today targeting 1.2465/80 support area. On the upside, consistent move above 1.2650 resistance area could be a serious threat to the bearish scenario testing 1.2720/50 region.




GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.4948 but closed significantly higher above 1.5000 area. The bias is neutral in nearest term but overall the ...

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/USD
EUR/USD: 1.2595
Late Update At 13 Jul 2010 02:41 GMT

Although price ratcheted higher due to cross buying of euro at Asian opening after y'day's selloff to 1.2550, as 1.2615 has capped said recovery, consolidation with downside bias wud be seen but below 1.2550 needed to extend fall fm 1.2723 to 1.2530.


Hold short for 1.2560 1st n only abv 1.2645/50
wud abort daily bearishness on euro.


Range Forecast
1.2575 / 1.2605

Resistance/Support
R: 1.2615/1.2649/1.2688
S: 1.2550/1.2504/1.2479

http://www.acetraderfx.com

GBPUSD broke below the rising price channel on 4-hour chart and reached as low as 1.4948 level, suggesting lengthier consolidation of uptrend from 1.4346 is underway. Rang trading between 1.4873 and 1.5240 is expected in a couple of days. As long as 1.4873 support holds, price action from 1.5240 is treated as consolidation of uptrend and one more rise towards 1.5522 (Apr 15 high) is still possible.



Daily Forex Forecast