July 31, 2007
|
|
|
|
|
|
The Euro recovered on yesterday rising smoothly towards the 1.37 area where the 1.3725 level has been reached during today’s Asian session. Support is currently formed by 1.3690 backed by 1.3660 and 1.3600. Resistance starts at 1.3700 and it is followed by 1.3725, 1.3750 and 1.3770. Daily sentiment remains slightly bearish due to the violent decline we’ve seen last week but a close above or near the half 1.37’s would signal an end of the current Euro retracement and will put pressure on 1.38
There are some deep technical reasons for wanting a micro lot account which you’ll learn about later. Just take it on faith for now that that is what you want. I would recommend Easy Forex who is my broker.