forex4you Posted March 9, 2012 Report Share Posted March 9, 2012 EUR/USD: Technical Analysis Euro-dollar has reversed its trend and started moving back down. The current bearish move is probably the Elliot 5th wave of the move down from the February highs and I would expect it to continue to the former lows at 1.3100. It has already reached the lower channel line of the rally since January and will probably bounce, possibly to 1.3240, before resuming the down-trend. Eventually, however, I would expect it to break through the channel and re-touch the lows at 1.31. 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. Quote Belajar Forex Link to comment Share on other sites More sharing options...
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