forex4you Posted March 7, 2012 Report Share Posted March 7, 2012 EUR/USD: Technical Analysis The euro-dollar is currently correcting the recent decline. It has almost reached a band of resistance at the 1.3170 level where it might reverse and a move back down to the range lows at 1.3105. Some consolidation with more corrective rallies is forecast thereafter - and possibly even a move up to 1.3200. Eventually, however, the pair will probably resume the down-trend given the recent breakdown from out of its bullish channel, and the support at 1.3050 provides an initial downside target for such a move. 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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