Announcement

Collapse
No announcement yet.

Forex4you Technical Analysis 16 Feb 2012

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Forex4you Technical Analysis 16 Feb 2012

    EUR/USD: Technical Analysis

    Forecasts, expecting further decline to 1.3040/00 level confirmed. The price is currently testing 1.3000 support, mentioned earlier as the key barrier on the way down. Indicators are "bearish", so the above mentioned level may be breached anytime soon. If it happens, we'll have good reasons to anticipate a medium-term reversal down with the next targets found at 1.2900/10 and then at 1.2830/40 level. It's also worth noting, that the support, which is now being tested is strong enough to hold back the "bears" for quite a while. Reversal up, towards 1.3170/1.3200 range will cancel the "bearish" scenario.



    Analysis by: Joaquin Monfort
    Forex4you analyst

    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Top Active Users

Collapse

There are no top active users.
Working...
X