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08/04/2014: I have just sold EUR/USD @ $1.37703

The barrier of this downtrend is in place, with a band of resistance $1.3760/$1.3780 in place. I think this is a good chance to sell.

Mario Draghi’s dovish press conference created a high in Euro/Dollar at $1.3805 which I do not expect to be breached.  There is also a resistance at $1.3719 which is protective. I ultimately expect Friday’s low to be retested in due course at $1.3671.

My stop is a little wider than normal at $1.3820 (50 pips).

EURUSD   08042014

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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.