EUR/ USD Daily Technical Analysis 2nd August 2012

Amy Forex

Member
90 0
Dear traders,

As we have mentioned yesterday in our analysis, the upside movement of the EUR/USD prices faced a strong resistance at 1.2333 and the slide of the prices found support at 1.2216 after the Fed policy meeting disappointment. The same setup remains in place and the ECB policy meeting today is expected to drive the prices outside the range 1.2206—1.2335, depends on the decision. It is important to notice that both the Stochastic and the RSI (14) signal that more room for the downside is available.

chart02.png


Support 1: 1.2214
Support 2: 1.2160

Resistance 1: 1.2275
Resistance 2: 1.2302

Nice trading all
Source mbcfx.com
 
 
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