Thursday

Forex Forecast: 4 August 2011 EURUSD

Stochastic analysis for EURUSD shows an oversold indication. Short Up-trend might be expected. But please be noted that ECB bank will have a press conference @12:30 GMT+0 (please adjust the time based on your local timezone). The result of this press conference might pose a significant impact to the currency. I suggest you wait and see, or do quick hit-and-run strategy.

Supports: 1.4250, 1.4220, 1.4140, 1.4075
Resistance: 1.4320, 1.4354, 1.4400, 1.4465