MAXFOREXTRADER.COM » Forex today analysis by MAXFOREXTRADER http://maxforextrader.com Forex Trading Tip Technique and Strategies Fri, 30 Jul 2010 11:31:06 +0000 en hourly 1 The pivotal support at 1.4970 showed major strength in front of the euro versus the dollar http://maxforextrader.com/2009/12/the-pivotal-support-at-1-4970-showed-major-strength-in-front-of-the-euro-versus-the-dollar/ http://maxforextrader.com/2009/12/the-pivotal-support-at-1-4970-showed-major-strength-in-front-of-the-euro-versus-the-dollar/#comments Tue, 01 Dec 2009 23:44:39 +0000 admin http://maxforextrader.com/?p=217 The pivotal support at 1.4970 showed major strength in front of the euro versus the dollar; thus, pushing it strongly to the upside to fail the continuation of the bearish correction and starting by that a new bullish wave, as presented in yesterday’s scenario, where it currently stands in front of the pivotal horizontal resistance at 1.5080; while we await a clear breach that opens the way to for further bullish intraday trading for today that targets 1.5200. It is vital that 1.4970 remains intact for our expectations to prevail. 

The trading range for today is among the key support at 1.4825 and the key resistance at 1.5145.


The general trend is to the upside as far as 1.4135 remains intact with targets at 1.6000.


Support 1.5000 1.4970 1.4925 1.4860 1.4825 
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Resistance 1.5080 1.5145 1.5200 1.5290 1.5340 
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Recommendation Based on the charts and explanations above our opinion is buying the pair with the breach of 1.5080 targeting 1.5200 and stop loss below 1.5000, might be appropriate.


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