27.07.201115:15 Forex Analysis & Reviews: EUR/USD Technical Analysis & Long Opportunity July 27, 2011

Long-term review

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EUR/USD is in a solid uptrend contained in the marked bullish channel since July 7.

Now the pair is retracing towards the support level 1.4343 marked on the chart.

This level is a solid support as it's confluence of the Fibonatcci levels , retest of the short term bearish channel broken before and the lower limit of the long term bullish channel.

So as we see the pair, the market offers a LONG opportunity around 1.4343 with TP at 1.4435 then 1.4515 .

SL should be 4H closure outside the bullish channel.

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