namrata.yadav Posted July 18, 2011 Report Posted July 18, 2011 EUR/USD: pull-back in progress The euro-dollar pair has bounced off the lower boundary of a recent channel and it will probably rise to the upper channel line at the 1.4100 level, or resistance at 1.4125. There is a Demark buy setup on the 4-hour chart supporting this short-term bullish perspective. The bearish point and figure charts however indicate a probable resumption of the down-trend eventually, targeting 1.3950 to the downside. Forex 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.
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