Wednesday, July 9, 2008

EURO AND POUND RANGEBOUND.-JUL 10

The dollar and Euro are in a tug-of-war as both have weak spots. The pair is likely to remain in tight ranges.
TECH OUTLOOK:
Euro chart pattern shows a tight trading range for the day. Currency is expected to trade between 1.5660-1.5750.With good support seen at 1.5640 levels. key resistance is seen at 1.5780 levels. Currency is trading between the fast and slow moving averages. Stochastic is trending down supporting the bear note.

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