forex4you Posted February 1, 2012 Report Share Posted February 1, 2012 EUR/USD: Technical Analysis The price failed to rise above 1.3210\20 level, so it retraced back down and breached a short-term uptrend (green) line. Having plunged to 1.3020/30 level, the price is now attempting to recommence growth. Trading is carried out at 1.3090/1.3100 levels. It's worth noting, however, that indicators suggest a reversal down and the fact that the above mentioned trend line has been recently breached proves that the "bullish" potential is weakening. If trading fails to ascend and hold above 1.3150/40, it will be another sign in favor of a possible reversal. The final signal will be received if the price drops and holds below 1.2900 line. On the other hand, if it holds above 1.3230/20 level, trading will recommence its growth and the price will test 1.3280-1.3300 levels in the near future. 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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