forex4you Posted March 13, 2012 Report Posted March 13, 2012 EUR/USD: Technical Analysis Earlier forecasts, expecting correction to continue and reach 1.3180 level, confirmed. The level turned out to be a strong resistance, so the price recommenced its decline and now resides at 1.3130/20 level. Indicators are "bearish" again, giving reasons to anticipate a reversal down. On the other hand, this "bearish" scenario will be possible only if the price falls below 1.3100 level. Medium-term outlook suggests the next targets to be found at 1.3030 and 1.2970/60 levels and lower. Growth above 1.3380 will indicate the change of sentiment towards the "bullish". 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. Belajar Forex
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