forex4you Posted March 20, 2012 Report Share Posted March 20, 2012 EUR/USD: Technical Analysis "Bulls" failed to reach 1.3290/80 level - the price was held back by 1.3270/65 resistance and pulled back to level 1.3220/30, where it still resides. Indicators suggest further growth, but the readings seem to be weakening. Earlier breached uptrend (red) line around 1.3290/1.3300 level is likely to be tested anytime soon. To anticipate a medium-term uptrend this resistance has to be breached and the price should hold above. In this case we'll be expecting growth to 1.3380 and then to 1.3490/1.3500 levels. Before 1.3290 level breakout trading has all chances to recommence its decline. Should the price fall below 1.3100 level, the bearish trend with the first targets at 1.2970/60 and 1.2870/80 (new local minimums) will commence. 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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