Dollar Versus Pound and Euro July 19th

FX Strategy Video > Currency Pairs Analysis

GBP/USD formed a third hammer in a row on Wednesday, and because of this we are very interested in this pair. The 1.57 level just above will continue to hold it down, but for how long? We suspect an explosive move could be coming in the near term.

The EUR/USD suddenly shows a lot of support. The 1.2150 level seems to have attracted a lot of buyers, but we feel the move higher has a very limited amount of room to go. The 1.24 level starts a serious resistance area, and as such we are simply waiting to sell from higher levels.

Published on 18th of July 2012
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