Technical outlook and chart setups:
1. The EUR/USD pair is moving towards its lower end initial targets of 1.33 and 1.32 at the moment. Intraday pullback/rallies are possible towards 1.3510/20 before the lower ends are met. Recommendations are to initiate short positions around 1.3510/20 levels.
2. Support is seen at 1.3380, followed by 1.33 and lower while resistance is seen at 1.3510/20, followed by 1.3580/1.3600 and higher respectively.
3. The structure indicates that EUR/USD has resumed its long-term down trend and rallies should be sold into.
Trading recommendations:
Selling rallies into 1.3510/20 is preferable.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of EUR/USD for July 30, 2014 . Thanks for your support on Technical analysis of EUR/USD for July 30, 2014
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