forex4you Posted January 18, 2012 Report Posted January 18, 2012 EUR/USD: Technical Analysis The EUR/USD has rallied up to resistance from the upper channel line of the bearish trend at 1.2785. It has also hit the sideways consolidation highs and the final move higher resembles an elliot 5th wave indicating the possibility of some downside to follow. Although the market hasn't reversed yet there are quite a few negative signals and a move down is expected. The base line of the consolidation and the swing lows at 1.2690 and below at 1.2670 compose the initial target zone. 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. Belajar Forex
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