forex4you Posted January 9, 2012 Report Share Posted January 9, 2012 EUR/USD: Technical Analysis The EUR/USD pair has been making a correction of the bear trend, in what might be classed an elliot wave 4th wave. There are signs of short-term resistance from the daily R1 pivot at current highs which could indicate the possibility of wave 5 beginning and falling to re-touch the lows at 1.2665 as a minimum. Overall the outlook is for some sideways consolidation, however, over the next few days as the current cycle completes. 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. Belajar Forex Quote Belajar Forex Link to comment Share on other sites More sharing options...
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