forex4you Posted February 2, 2012 Report Share Posted February 2, 2012 EUR/USD: Technical Analysis The price managed to ascend above 1.3150/40 level, but 1.3210/15 line hindered further growth, so the price is now likely to retrace back under 1.3150/40 support. Indicators are turning down, giving more reasons to anticipate a reversal down. If the pair continues to decline and the price tests earlier breached uptrend (green) line as a resistance and pulls back, we'll be expecting a highly possible reversal. 1.3080/70 support breakout will be the first sign for the growing "bearish" potential, decline below 1.2900 level will be another strong sign. If 1.3230/20 resistance is breached, levels 1.3280-1.3300 will be tested anytime soon after. 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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