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Eurusd weekly-analysis-19-july-2010

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Eurusd weekly-analysis-19-july-2010

  1. 1. EURUSD Weekly Analysis 19-July-2010 www.TopPips.com Disclaimer: There is a very high degree of risk involved in trading. In any market where a potential for profit exists, there exists also a risk of loss. Forex trading is a risky business. You should only trade with money that you can afford to lose. In case of loss, the amount should not affect your lifestyle and your family’s in anyway. None of the information on our website nor any information or education provided to the reader by any means assures that the reader will make money in the Forex market. Neither the au- thor nor the publisher will be responsible for the use or misuse of the information contained herein. The information contained in this ebook is for information purposes only. It is not intended as professional advice or a recommendation to act. Before engaging in any activity mentioned in this ebook, seek the advice and consultation of a competent professional. All trademarks mentioned herein are the property of their respective trademark owners.
  2. 2. EURUSD Weekly Analysis Weekly Trend Direction: Bullish Alternate suggestion: Any breach of our suggested weekly trend reversal level will open up doors targeting towards 1.1875 & 1.1639. Weekly Trend Reversal Level: 1.2500 Key Support Levels: 1.2740, 1.2575, 1.2440, 1.2300 Chart Key Resistance Levels: 1.3000, 1.3300 Entry Strategy: Buying dips in an uptrend at support levels, while market trades above trend reversal level Trade Suggestion: This pair made a bullish run as we determined last week and continued to trade above our weekly trend reversal level and reached our sited tar- gets of last week which is 1.2830 and 1.3000 Now this pair reached as high as 1.3007 which is a corrective rise of the fall from 1.3691 to 1.1875, which is 61.8 of that fall. This pair has a critical region between 1.3000 to 1.3300 , which could be a potential resistance zone / reversal zone. How- ever this pair could continue it run to 1.3300 target, exceeding this sited level will give this pair more push upwards towards 1.3500 target. What we are seeing now on this pair is a A B C correction on daily charts. Price level exceeding 1.3300, we could see a potential rise in this pair. Be cautious while trading in the zone between 1.3000 to 1.3300. A sustained break above 1.3000 level might push this pair to next price target level of 1.3300 The price level 1.3000 will be significant resistance on this pair, which is a big num- ber. Before we see any rise on this pair, we would wait for downward correction to any of our suggested support levels. Read Latest Analysis At www.TopPips.com Join Live Trading Room At www.TopPips.com
  3. 3. Risk Warning The risk disclaimer is meant to inform the user of the potential financial risks of en- gaging in foreign exchange trading. The transaction of such financial instruments known as forex, fx, or currency, and dealt on a valued basis known as ‘spot’ or ‘for- ward’, ‘day trading’ and ‘option’, can contain a substantial degree of risk. Before deciding to undertake such transactions with any other firm offering simi- lar services, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Trading foreign exchange may result in a sub- stantial or complete loss of funds and therefore should only be undertaken with risk capital. The definition of risk capital is funds that are not necessary to the survival or well being of the user. We strongly recommends that a user, who is considering trading foreign exchange should obtain a clear and accurate understanding of the risks inherent to fx trading. Opinions and analysis on potential expected market move- ments contained within the FirePips.com website are not to be considered neces- sarily precise or timely, and due to the public nature of the Internet, FirePips.com cannot at any time guarantee the accuracy of such information. Trading online, no matter how convenient or efficient it may be, does not neces- sarily reduce the risks associated with foreign exchange trading, and FirePips.com does not accept any responsibility towards any customer, member or third party, acting on such information contained on the website as to the accuracy or delay of information such as quotations, news, and charts derived from quotations.

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