Jump to content

Forex4you Technical Analysis 27 July 2011


Recommended Posts

EUR/USD: technical analysis

The bulls came very close to 1.4560/50 target level and almost reached it, but the price met a strong resistance at level 1.4530, so it now resides at 1.4470/80. Indicators are weakening their readings, they don't seem to suggest further growth anymore - we now expect sideways movement within 1.4550/40 – 1.4450 range, or may be with even lower border, at 1.4370/80 support line. Decline below 1.4260 support should be considered as a signal towards the change of sentiment in the market. Fixation above 1.4550/60 level will give reasons to expect the bulls to test a new support at 1.4700 level.

Forex4you

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.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...