EUR/USD Analysis - July 7, 2009

The currency pair is in the trading range between 1.3880 and 1.4020. Deeper decline is expected at about 1.3748 level today. An alternative scenario could be further rebound to 1.4120-1.4140 area.

Comment:
I have bought position at 1.3974 level at 5.31am GMT and a current profit of 10 pips has been confirmed. Will expect level of 1.3990 to sell the position.

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- Level of 1.3990 reached at 11.00am GMT leaving with a profit of 16 pips.