EUR/ USD Daily Technical Analysis 31 July 2012

Amy Forex

Dear traders,

As it was expected yesterday, the EUR/USD prices continue to trade within narrow range ahead of the ECB and the Fed policy meetings. For the day trader, the stochastic is giving a sell signal, and the next possible downward movement will target 1.2230 and next 1.2201 area, its SMA (200) on the hourly chart.


Support 1: 1.2234
Support 2: 1.2199

Resistance 1: 1.2287
Resistance 2: 1.2359

Nice trading
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