forex4you Posted January 12, 2012 Report Share Posted January 12, 2012 EUR/USD: Technical Analysis The “bearish†attempt to continue a down trend ended up at the old minimum. Reaching 1.2660/65 level, the price pulled back up and now resides at 1.2720/30 levels. Indicators are turning up, suggesting “bullish†development; MACD divergence seems to have commenced, which gives reasons to be cautious about the “bearish†strength and consider a possibility of reversal up, that may be triggered by today’s political news and ECB interest rate and monetary policy decision in particular. In this regard, our suggestion would be to postpone trading the instrument until the situation clears up. Technical picture looks the following - 1.2810 resistance breakout, if takes place, will hold back further growth either at 1.2850/60 or at 1.2900 resistance line. Downtrend is considered dominating in a medium-term, the next target will be found at 1.2370/60 level. Analysis by: Arkady Nagiev 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. Quote Belajar Forex Link to comment Share on other sites More sharing options...
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