forex4you Posted January 23, 2012 Report Posted January 23, 2012 EUR/USD: Technical Analysis There is a general upside bias because of the strong support at 1.2850 and the unfinished elliot wave pattern higher. A break of the high at 1.2950 would lead to a rally and re-touch of the recent highs at 1.2985 -and then perhaps even further upside to the 200 - 4-hourly MA at around 1.3000 – which is also a key psychological level. If the pair falls however, then it could drift down to support at 1.2850 instead, with a possible resumption of the broader down-trend on the cards thereafter. 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
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