forex4you Posted January 16, 2012 Report Share Posted January 16, 2012 EUR/USD: Technical Analysis The price declined below 1.2780/70 level, triggering a reversal of the "bearish" sentiment on the last session. Trading slipped to its local minimums and then even lower, reaching 1.2630/20 levels. At the moment we observe a pullback up, the price resides at 1.2670/80 level. Indicators are unclear, suggesting uncertainty in the market, which is very likely to result in another correction to recent growth, followed by a possible pullback up, probably to 1.2770/80 level or even higher. For now, consolidation range would be limited by 1.2700/1.2690 resistance. Speaking of a medium-term outlook, the "bearish" trend would be dominating with next target 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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