Angles

From the last two days, the EUR/USD pair has been teetering on an angle at 1.5662, which is an up trending support. If this pair breaks the angle, the market might be on the bearish side of an up trending angle from 1.5302 (06.13.08). From February 7, 2008, a major up trending support from its main bottom of 1.4437 has come back to 1.5527. This position has held support for 110 trading days and stopped on June 13. If the market comes down, then watch for further to another up trending position at 1.5482.

The down trend resistance is at 1.5749 and 1.5229.

Chart Analysis

The present main range is at 1.5302 as on (06-13-08) to 1.5909 (07-03-08).  This range created a market movement zone at 1.5606 to 1.5534.

As on the up trend the minor range is at 1.5909 as on (07-03-08) to 1.5610 (07-07-08). The retracement zone inside of this range is 1.5760 to 1.5795.

Trading Tips

The reversal high at 1.5909 on (07-03-08) looks as it could become a major high.  Failure in the next rally would be one of the best signs, which could creation a secondary lower top. Come across to sell back into the market movement zone at 1.5760 to 1.5795.

Counter-trend traders an attempt to sell at weak through 1.5662, but if it holds the break at 1.5606 be quick to cover your position. At the retracement zone of 1.5606 to 1.5534, trend traders can watch a better position for buying.

For today, 1.5534 to 1.5527 is the best price to buy.