Euro Technical Outlook

Published July 7th, 2008 - 07:54 GMT
Al Bawaba
Al Bawaba

The EURUSD has found its first level of support 1.5600 with deeper support residing in the 1.5550 -1.5600 zone.



We continue to view the move as corrective in an overall uptrend but a break below 1.5500 would create tremendous technical damage and put our upside scenario at risk.

STRATEGY: Bullish, against 1.5303 (but lighten up), target is above 1.6018