Daily analysis for major currencies

2013.08.26

EURUSD:

Last week failed to penetrate 1.3480 the downtrend line target from 1.4246,13710. 

the paire closed last Fri below 1.3414 as 1.3378

EURUSD still trapped in range area of (1.3380– 1.3323). A break in either direction will determine the trading

bias in today`s session. Break below (1.3323) could trigger further bearish pressure targeting (1.3261),

while break above (1.3380) could trigger further bullish advances testing (1.3502). We need to hold for current session.

 

Res: 1.3403 1.3452 1.3477 1.3502 1.3527

Sup: 1.3343 1.3311 1.3286 1.3261 1.3236

Our view:
Pivot: 1.3391

Entry: short position below 1.3391

Targets: 1.3356, 13327 then 1.3300 in extension

Stop: above 1.3414
Alert: break above 1.3414 will call for 1.3450

where you will Re-entry short in case if first position done it stoploss