forex4you Posted January 13, 2012 Report Share Posted January 13, 2012 EUR/USD: Technical Analysis The price breached 1.2810 resistance. Level 1.2850/60 is currently holding back the price from further growth, trading is carried out at 1.2840/50. Indicators are mostly "bullish", which gives reasons to anticipate another ascension. It's worth noting, however, that the price now resides around significant resistance levels, which are strong enough to halt further upward movement. If trading falls below 1.2780/70 line, market sentiment will most likely turn "bearish", so we'll be expecting a reversal down and current local minimums -1.2660/70 levels - to be tested anytime soon after. Medium-term outlook looks to be bearish with the next target found at 1.2370/60 level. Even if the price proceeds with its growth, it will be held back by level 1.2900. 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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