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Week of August 1-6, 2010

EURUSD’s broad outlook favors further downside risk while prices remain below 1.3124 as ONLY a weekly open and close above 1.3124 will complete the fall from the November 2009 high of 1.5143 while the 2010 low of 1.1876 holds.  Assuming prices  sustain above 1.3124, risk will then favor further rise within a 1.3124-1.3895 zone before another attempt to the downside.  As to the corrective rise from the 2010 low of 1.1876,  ONLY a daily open and close below 1.2636 will complete this rise while last weeks 1.3106 high caps. For the week ahead, look to buy EUUSD for 1.3124, and 1.3426 targets while 1.2740 supports.

  • Posted by adminfx
  • On August 1, 2010
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